“Financial technology startup YayPay today announced the raising of $8.4 million dollars in funding to further its drive to bring automation to the back-office finance operations of mid-sized enterprises. YayPay will capitalize on its momentum in the multibillion-dollar credit-to-cash software and commercial payments market, and use the funding to pursue product development in data science, advanced-level product features, and sales team expansion. The funding is led by Information Venture Partners with follow on investment from existing shareholders including Birchmere, QED, Fifth Third Capital, the direct equity investment subsidiary of Fifth Third Bancorp, Gaingels, and 500 Fintech Fund. A new supporting institutional investor, Runway Venture Partners, also joined the round. The company’s total funding to date is $14 million dollars.”