Keeping track of bills is hard. Calendar apps work well to remind you of upcoming payments but their usability ends there. Doxo, a Seattle-based fintech startup, takes payment reminders to the next level with its doxoDIRECT platform that not only acts as a reminder service but also lets users submit payments through the platform.
On Thursday, the company announced it secured $18.5 million in a Series C round led by Jackson Square Ventures and would be going on an “aggressive” hiring push as it seeks to double its headcount and grow its platform.
With a network of over 120,000 payable billers, doxo’s platform is one of the largest payment platforms and serves over 7 million users in the U.S. Through the app, users can set reminders for when bills are due, and after linking a bank account can make payments to their various billers direct from the platform.
DoxoPLUS, the paid version of the platform, provides additional features such as late fees, overdrafts, credit and identity protection.
Doxo was founded in 2008 and currently employs around 85 Seattle-based individuals. The company received featured several best company awards, including Built In’s Best Places To Work.
The startup was founded on the idea that paying bills should not be a stressful process that requires navigating a sea of websites. While doxo has made the process easier, it has also helped users improve their financial health by helping them stay on top of payments.
“People are shifting to more customer-centered, secure payment methods and billers are looking for ways to improve their payment experience and boost customer engagement. By meeting these needs, doxo’s growth has accelerated significantly this past year,” Steve Shivers, co-founder and CEO of doxo, said in a statement. “We’re very pleased to have Jackson Square Ventures as our partner as we continue to scale to meet demand and expand the benefits we deliver to consumers and billers alike.”
Since launching, doxo has raised $37.3 million in venture funding, including $10 million in a Series B round in 2011 and $4.8 million in a Series A round a year after the company launched, according to Crunchbase. Doxo has also had repeat investors including Jeff Bezos’ personal investment firm Bezos Expeditions.
In a prepared statement, doxo announced that it would be using its new capital to make key executive hirings and also double its headcount in the near future. The company will also work on growing the platform’s pay provider directory.
Currently, doxo has several openings including a software engineer and UX designer.
