Volopay

Volopay is a spend management company headquartered in Singapore, founded in 2019 by Rajith Shaji and Rajesh Raikwar and backed by Y Combinator and Antler. It was built for Asian businesses that still run company spending on directors’ personal credit cards and spreadsheets, and it now operates in Singapore, India, Australia, the United Kingdom, Canada and the United States.

The platform pairs physical corporate cards and unlimited virtual Visa cards with multi-currency business accounts, expense management, accounts payable, procurement covering intake-to-procure and procure-to-pay, employee reimbursement and accounting automation. Controls include per-card budgets, merchant restrictions and approval workflows of up to five levels, with real-time visibility of unsettled transactions. Accounting integrations cover Xero, QuickBooks, NetSuite, MYOB, Zoho Books and Tally. Volopay raised a 29 million USD Series A in 2022 with JAM Fund, Winklevoss Capital, Rapyd Ventures and Accial Capital, and lists customers including Zoho, Atlan and Polygon.

1. Corporate cards: physical cards plus unlimited virtual Visa cards for subscriptions, vendor payments and online purchases.

2. Spend controls: per-card budgets, merchant restrictions and approval workflows configurable up to five levels.

3. Multi-currency accounts: global business accounts for cross-border transfers alongside card funding and reimbursements.

4. Procurement suite: intake-to-procure and procure-to-pay workflows linked to accounts payable and vendor payments.

5. Accounting automation: native sync with Xero, QuickBooks, NetSuite, MYOB, Zoho Books and Tally.

6. Regional coverage: operations in Singapore, India, Australia, the United Kingdom, Canada and the United States.