NAME OF STARTUP: Paidnice
FOUNDED IN (Year): 2021
FOUNDER’S NAME: Denym Bird
THE IDEA: What is the problem being solved by your startup / business?:
Paidnice solves the crucial problem faced by businesses worldwide: timely payments. We simplify the process of adding late fees to overdue invoices, incentivize prompt payments, and automate reminders, enhancing cash flow management for businesses using Xero and QuickBooks.
THE FOUNDER’S STORY: When and how did you come up with the idea for the business?:
In November 2021, founders Denym Bird and Jack Daffron identified a growing need for late fees functionality on Xero’s community forums. Inspired by a thread active since 2012, they developed a Minimum Viable Product (MVP) over a weekend, marking the inception of Paidnice.
WHO IS THE CUSTOMER: What is the typical profile of your target customer? Where would they be located?:
Our typical customer is a small to medium-sized business owner, primarily located in English-speaking countries like Australia, New Zealand, the UK, Canada, and the USA. These businesses use accounting platforms like Xero and QuickBooks and seek efficient, automated solutions to manage cash flow.
LESSONS TO SHARE: What 3 key lessons from your startup journey you’d like to share with aspiring entrepreneurs?:
Our journey teaches us the power of speed – move quickly, even if it means breaking things initially. Secondly, customer conversations are invaluable. Their feedback and needs shape our product. Lastly, identifying a clear problem is key;it drives the creation of a valuable solution.
Latechaser is now Paidnice 👀
Today, we are thrilled to announce the rebranding of Latechaser to Paidnice and the launch of our complete suite of automations for accounts receivable. pic.twitter.com/DK18vnIc9C
— Paidnice (@getpaidnice) May 4, 2023
HQ City: Auckland
Website URL: https://www.paidnice.com/
Number of Employees: 1-5
Connect On Twitter: @getpaidnice
