HealPay has made a name for itself for its accounts-receivable software and mobile apps. Now the downtown Ann Arbor-based start-up is expanding into rent collection with a new app, Rent Roll.
"We're trying to streamline the accounts receivable part of accounting," says Erick Bzovi, co-founder & CEO of HealPay
The 2-year-old start-up was looking to get more into merchant services and transaction services so it could harness a more consistent revenue stream. Helping facilitate payments meant they could be paid back within three to six months. Helping landlords collect rents means it can collect money every month.
"We're really into recurring revenue and payments," Bzovi says.
HealPay launched Rent Roll
early this spring and already has about half a dozen landlords with at least 50 units each signed up. The rentals include multi-units in Sterling Heights and Ann Arbor and accounts for hundreds of thousands of dollars of transactions each month.
It also opened up an opportunity for HealPay's original accounts-receivable software
. Now when renters fall behind on their rent their landlords can switch them over to HealPay's settlement app to make sure they collect.
Source: Erick Bzovi, co-founder & CEO of HealPay
Writer: Jon Zemke
Read more about Metro Detroit's growing entrepreneurial ecosystem at SEMichiganStartup.com.