VersaPay Corporation Announces $4 Million Bought-Deal Financing

April, 18, 2016

TORONTO, ONTARIO, April 18, 2016 — VersaPay Corporation (TSX VENTURE:VPY) (“VersaPay” or the “Company”) is pleased to announce that it has entered into an agreement with a syndicate of underwriters led by Haywood Securities Inc. (collectively, the “Underwriters”), pursuant to which the Underwriters have agreed to purchase, on a bought deal basis pursuant to the filing of a short form prospectus, 4,000,000 common shares (the “Common Shares”) of the Company at a price of $1.00 per Common Share (the “Offering Price”) for aggregate gross proceeds of $4,000,000 (the “Offering”). The Company has granted the Underwriters an option (the “Over-Allotment Option”) to purchase up to an additional 600,000 Common Shares at the Offering Price, exercisable in whole or in part, at...

NEWSCYCLE Goes Live on VersaPay’s AR Automation Solution

April, 13, 2016

MINNEAPOLIS and TORONTO, April 18, 2016 – VersaPay Corporation (TSXV: VPY) (“VersaPay” or the “Company”), a leading provider of cloud-based invoicing, accounts receivable management and payment solutions, today announced that NEWSCYCLE Solutions is now live on VersaPay ARCTM, the company’s AR automation solution. “In forming NEWSCYCLE Solutions from the predecessor companies we made a commitment to continuously work to change the game, and be the leader for the global news media industry. To help achieve that status we have selected VersaPay as our invoicing and AR automation provider,” noted Lynn Danko, CFO, NEWSCYCLE. “With this new solution we can effectively manage all aspects of invoicing, accounts receivable and payments in a PCI compliant environment, provide automatic notifications and reminders, and...

VersaPay Selected by The Erb Group of Companies to Provide Accounts Receivable Automation Solution

April, 6, 2016

San Antonio, TX ; Toronto, ON – April 6, 2016 – VersaPay Corporation (TSXV: VPY) (“VersaPay” or the “Company”), a leading provider of cloud-based invoicing, accounts receivable management and payment solutions, today announced its newest customer, The Erb Group of Companies (Erb). Erb, which provides trucking and distribution services throughout Canada and the US, selected VersaPay to support its rapidly growing business and its commitment to maintaining a leadership position. “The growth we have enjoyed as a company stems from our commitment to continually search for new and better ways of doing things, coupled with our relentless focus on providing a great customer experience,” stated Irene Holdbrook, VP of Finance at Erb. “We are in a highly competitive market with thin margins so implementing process enhancements such...

VersaPay Reaches New Milestones With Invoicing and Accounts Receivable Automation Platform

April, 4, 2016

Toronto, ON – April 4, 2016 – VersaPay Corporation (TSXV: VPY) (“VersaPay” or the “Company”), a leading provider of cloud-based invoicing, accounts receivable management and payment solutions, today announced the latest milestones the Company has achieved with ARCTM, its accounts receivable automation platform. VersaPay now has 43 suppliers signed, including 33 that are currently live with 17,700 of their end-customers using the platform. This represents growth of 51% in the number of end-users in the past 3 months. Invoices received by customers have almost doubled over the period, to 396,000, and payments are up just over 2 times, to $23.1 million. The latest metrics reflect VersaPay’s continued focus on a number of target markets including the media industry. Most...

VersaPay Signs Partnership Agreement With Katipult To Bring Secure Investment Crowdfunding Software To The Canadian Market

March, 30, 2016

Toronto, ON – March 30, 2016 – VersaPay Corporation (TSXV: VPY) (“VersaPay” or the “Company”), a leading provider of cloud-based payment and accounts receivable management solutions, today announced that it has signed a partnership agreement with Katipult Software to bring a disruptive Crowdfunding solution for investment firms to the Canadian market. VersaPay’s gateway technology enables Katipult to provide clients using its crowdfunding software product with an integrated secure payment capability. Katipult is thrilled to offer VersaPay as a payment solution and further bolster its leading software product. “This is a game changing relationship for the Canadian investment community,” said Brock Murray, CEO of Katipult. “We’re bringing a product to the Canadian market that benefits everyone from investors to issuers...

VersaPay Announces Stock Option Grant

February, 11, 2016

Toronto, ON – February 11, 2016 – VersaPay Corporation (TSXV: VPY) (“VersaPay” or the “Company”), a leading provider of cloud-based invoicing, accounts receivable management and payment solutions, today announced the Company has granted incentive stock options to officers and employees of the Company to purchase up to 490,000 common shares in the capital stock of the Company under its share option plan. Each option entitles the holder to purchase one common share of the Company at an exercise price of $1.40, and will expire on February 8th, 2021. The options granted are subject to the approval of the TSX Venture Exchange and applicable hold and Company vesting periods. } About VersaPay VersaPay is a leading cloud-based invoice presentment and payment provider for businesses of all sizes....

VersaPay Chosen by Hadrian Manufacturing for AR Automation Solution

February, 9, 2016

Toronto, ON – February 9, 2016 – VersaPay Corporation (TSXV: VPY) (“VersaPay” or the “Company”), a leading provider of cloud-based invoicing, accounts receivable management and payment solutions, today announced that Hadrian Manufacturing Inc. has signed an agreement with VersaPay to automate their accounts receivable process using the VersaPay ARC platform. “As with any manufacturing business we are in a competitive space. Moving to the VersaPay AR solution enables us to become even more competitive as it allows us to be more efficient in day-to-day operations,” noted Rob Snyder, VP, Finance at Hadrian. “One of the other key outcomes we are excited about is that the VersaPay solution enables us to enhance our customer experience. We are constantly on the lookout...

Sun City Group Goes Live on VersaPay’s Accounts Receivable Automation Platform

February, 2, 2016

Toronto, ON – February 2, 2016 – VersaPay Corporation (TSXV: VPY) (“VersaPay” or the “Company”), a leading provider of cloud-based invoicing, accounts receivable management and payment solutions, today announced that Sun City Group, based in El Paso, Texas, is now live on ARC™, the company’s automated accounts receivable platform.

AR Automation Brings Big Benefits to Sihl Corporation

February, 1, 2016

While accounts receivable (AR) departments are looking into automation solutions for their processes, they have a long way to go until they achieve end­-to­-end processing. In the report The Power of AR Automation, Paystream Advisors points out that many AR departments are still using inefficient, manual receivables and payment processing systems that are expensive, unreliable, and overly complex. The report maintains, however, that AR automation is now within reach for most organizations. Cloud­based AR automation solutions reduce costs and build an easily traversed bridge between one company’s AR and another’s AP. The many benefits of AR automation, according to Paystream Advisors and other researchers, include . . . Accelerated cash flow; Reduced days sales outstanding (DSO); Elimination of printing...