Thursday, 4 June 2015

€500k investment allows schools’ payment system to grow

Cutting edge technology allows for seamless payments between schools and parents

Way2Pay, an innovative fee collection system for schools, has completed a successful fundraising round of €500k which will facilitate further expansion into the UK market and further afield. This investment round was led by Jenson Solutions.

Founded by Denise O’Grady, the Digital Hub based Way2Pay allows parents to easily pay for an activity or event using text message, email or a dashboard if they don’t have a smartphone. The company recently introduced the first ever dedicated school payment app.

“We already have a strong customer base in both Northern and Southern Ireland but this investment will now help us rollout in the UK market” said Denise. “The service was founded on highly innovative technology and makes fee payments between schools and parents much easier and more efficient” she added.

Since it was set up, Way2Pay, which now has a team of eight, has gone from strength to strength and is now available in a quarter of all Irishpost-primary schools and seven ETB schools across Ireland. The company participated in the DCU Ryan Academy’s Propellor Programme and the NDRC’s Launchpad programme.

Investors in the company include Enterprise Ireland, Patrick Joy Founder and Executive Chairman of Suretank Group Ltd and John Aiken from Jenson Solutions.

“I’m truly impressed by this business idea and by the energy and ambition of the founder Denise O’Grady” said Patrick Joy, EY Entrepreneur of the Year for 2013. “Way2Pay will easily transfer to other English-speaking markets with similar school systems” he added.

Kevin Sherry, Head of Enterprise Ireland’s High Potential Start-up Division, added “Enterprise Ireland is delighted to support Way2pay in the development of an innovative solution in what we recognise as a growing industry with scaling potential.”