PayUp, a Rex company, announced it has partnered with ResMan, a leading property management system that drives profitability and efficiency for nearly a thousand property management companies across the U.S. PayUp is an early payment fintech solution for small and medium sized businesses ensuring convenient and affordable access to capital.
“Vendors in the real estate industry typically get paid 30 days after they complete work, which causes working capital issues, often costing them new business opportunities,” said Peter Rex, executive chairman and founder of Rex. “Most available financing options for this market are complex and add debt to businesses that can’t afford it. PayUp is empowering vendors who perform critical work that ensure properties keep running and residents are well-served.”
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PayUp partners with businesses and their customers to expedite payments providing a fully integrated experience that seamlessly fits into existing invoicing workflows and provides instant verification and early, predictable payouts.
“Partnering with an industry leader like ResMan is an exciting new chapter for our business,” said Denver Lobo, co-founder and CEO of PayUp. “This partnership gives PayUp access to thousands of vendors who will be able to control their financial destiny.“
Since May 2022, PayUp has processed thousands of invoices totaling over $2.0 million in payments, and has recently secured a multi-million dollar line of credit to continue expansion.
SOURCE: PR Newswire