# Payra

> Payra is a Nashville fintech that bolts modern payments onto the aging ERP systems that concrete yards, lumber suppliers, and HVAC distributors already run. Instead of ripping out software these firms have used for decades, Payra layers digital invoicing, card and ACH acceptance, and automatic cash application on top - and says customers cut days sales outstanding and clear past-due invoices as a result. Co-founded by Riley Lovingood and Thomas Cecil, it bootstrapped to a reported eight-figure revenue run rate before taking its first outside money, a $15 million growth round from Edison Partners in early 2026.

- **Founded:** 2024
- **Headquarters:** Nashville, Tennessee, United States
- **Founders:** Riley Lovingood (CEO and Co-Founder), Thomas Cecil (Co-Founder and Head of Product)
- **Team size:** About 14-21 employees (2026)
- **Products:** Cash Application, Smart Invoicing, Custom Notifications, Credit Management, Physical & Virtual Terminals
- **Notable:** Reached a reported $10M+ revenue run rate within about 15 months of launch while bootstrapped, Raised $15 million from Edison Partners in February 2026 - its first outside capital, Reports customers cutting days sales outstanding by up to 40% and past-due invoices by 75%

## Products & services

- **Cash Application** — Automatically matches incoming payments to open invoices inside the customer's ERP, with a reported 99% auto-match rate, eliminating manual reconciliation.
- **Smart Invoicing** — Delivers invoices by email and SMS with embedded payment links so customers can pay by card or ACH in a click.
- **Custom Notifications** — Automated payment reminders and follow-ups that reduce the manual chasing of past-due invoices.
- **Credit Management** — Digitizes incoming credit application processing for new trade customers.
- **Physical & Virtual Terminals** — In-person and online payment acceptance for counter sales and remote transactions.
- **Client Portal** — A branded, 24/7 self-service portal where customers view invoices, payment history, and enroll in autopay.

## Achievements

- Reached a reported $10M+ revenue run rate within about 15 months of launch while bootstrapped
- Raised $15 million from Edison Partners in February 2026 - its first outside capital
- Reports customers cutting days sales outstanding by up to 40% and past-due invoices by 75%
- Integrates with legacy ERPs as old as nearly 30 years without requiring replacement
- Reports a 99% automatic cash-application match rate and roughly 3-week implementation time

## Latest updates

- **2026-02** — Payra announced a $15 million growth investment from Edison Partners, its first outside funding after bootstrapping.
- **2026-02** — Company reported crossing a $10M+ revenue run rate within roughly 15 months of launch.

## Links

- Website: https://payra.com
- LinkedIn: http://www.linkedin.com/company/payrasoftware

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Profile page: https://yespress.io/payra
Published by YesPress — https://yespress.io
Last updated: 2026-08-21