Running a small business isn’t that simple. One of the most challenging parts is keeping track of the company’s cash flow, receipts, and all other bookkeeping aspects. To help small business owners focus on what they are good at – their products or services – and worry less about managing their finance, products like WorkingPoint or GoDaddy’s Outright were created. Now a Thailand-based startup called MergePay has entered this same arena. Today, the company launches MergePay Pulse, a tool to help businesses get better insights into their financial metrics.
Launched in beta version back in 2012, MergePay wants to be Mint for business users. As with Mint, it connects to lots of financial services. In the case of MergePay Pulse, it ties to over 12,000 banks and financial institutions worldwide, with a heavy focus on Southeast Asia. The platform also supports over 100 currencies. Users can easily and instantly track and manage their income, expenses, and recurring bills through the web app or mobile app. In addition, it also pulls in and categorizes data from payment services such as Stripe and Paypal.
Already beta tested by businesses
The service is free to use, but customers can upgrade to a $39 per month plan for some premium features such as data exporting options and optical character recognition (OCR) which digitizes bills/receipts simply by snapping a photo of them via the mobile apps.
MergePay has a bigger plan for itself. According to Ian Borders, the company’s founder, the platform has pivoted since it was first launched.
Since then we have completely rebuilt the product from the ground up, and it’s a fairly different product now. The current version went into beta in February of last year and we are launching it to the general public today. Pulse is just one of the products. We are working on other financial tools for businesses which fall under the MergePay brand.
MergePay has been beta testing the product with nearly 1,000 businesses, with over 630 active on a weekly basis over the past year. Most of the businesses are in Thailand, Hong Kong, Singapore, Australia, and the US. Southeast Asia by far has the most traction on the platform.