Cleo Pay

Company profile:

Startup name: Cleo Pay

Tagline: AI-powered AP automation for hospitality – vendor payments, invoice scanning, and QuickBooks sync for 3,000+ businesses.

Elevator Pitch: Cleo Pay is an AI-powered accounts payable and payments platform designed specifically for hospitality and entertainment businesses. Built by operators who ran four venues in NYC, we automate the entire AP workflow: AI invoice scanning, smart approval routing, same-day ACH payments, and automated W-9 contractor onboarding. Two-way QuickBooks integration keeps books accurate without manual data entry. Trusted by 3,000+ businesses including venues, bars, restaurants, and event production companies nationwide.

Target Market: Hospitality and entertainment businesses – venues, bars, restaurants, nightclubs, event production companies

How will you make money?: SaaS subscription model with transaction-based pricing on payments processed.

How much capital have you raised?: None

Website: https://www.cleo-pay.com

City/Country: New York, USA

AI-assisted summary:

Cleo Pay is a New York-based fintech startup that offers an AI-powered accounts payable (AP) automation platform tailored for the hospitality sector. By streamlining vendor payments, invoice processing, and tax compliance, Cleo Pay aims to reduce manual tasks and enhance operational efficiency for businesses such as hotels, restaurants, and event venues. (Source: https://www.cleo-pay.com/)

The Problem and Target Users

Hospitality businesses often grapple with cumbersome, manual AP processes that involve handling numerous invoices, coordinating vendor payments, and ensuring tax compliance. These tasks are time-consuming and prone to errors, leading to delayed payments and strained vendor relationships. Cleo Pay targets small to mid-sized hospitality businesses seeking to automate and simplify their AP workflows. (Source: https://www.cleo-pay.com/faq)

The Solution and Key Features

Cleo Pay addresses these challenges by providing a comprehensive AP automation platform with the following key features:

• AI Invoice Processing: The platform utilizes artificial intelligence to extract data from invoices, match them to purchase orders, and categorize line items automatically, reducing manual data entry. (Source: https://www.cleo-pay.com/)
• Vendor Onboarding and Compliance: Cleo Pay automates the collection of W-9 forms, verifies vendor information, and manages 1099 tax compliance, ensuring businesses remain compliant with tax regulations. (Source: https://www.cleo-pay.com/)
• Same-Day ACH Payments: Businesses can execute same-day ACH transfers to vendors without per-transaction fees, facilitating faster payments and improved cash flow management. (Source: https://www.cleo-pay.com/)
• Approval Workflows: The platform allows users to set up customizable approval chains for invoices and payments, ensuring that the right personnel review and approve transactions. (Source: https://www.cleo-pay.com/)
• QuickBooks Integration: Cleo Pay offers two-way synchronization with QuickBooks, keeping financial records accurate and up-to-date without manual entry. (Source: https://www.cleo-pay.com/)

Business Model, Pricing, and Traction

Cleo Pay operates on a subscription-based model with three pricing tiers:

• Free: Designed for vendors and invoice recipients, this plan allows users to receive unlimited payments at no cost. (Source: https://cleo-pay.com/pricing)
• Basic ($99/month): Includes up to 30 outbound payments per month, three user seats, AI invoice scanning, approval workflows, W-9 collection, QuickBooks integration, and payment scheduling. Additional payments are charged at $3 each. (Source: https://cleo-pay.com/pricing)
• Pro ($299/month): Offers up to 100 outbound payments per month, ten user seats, all features in the Basic plan, plus dedicated account management, personalized onboarding support, automated 1099 filings, and faster payment processing. Additional payments are charged at $2 each. (Source: https://cleo-pay.com/pricing)

Since its launch in October 2025, Cleo Pay has gained traction within the hospitality industry, with over 3,000 teams utilizing the platform to streamline their AP processes. (Source: https://www.cleo-pay.com/)

Expert Take

Cleo Pay effectively addresses a significant pain point in the hospitality industry by automating complex and time-consuming AP tasks. Its focus on AI-driven solutions and seamless integrations positions it as a valuable tool for businesses aiming to enhance efficiency and compliance. However, as with any emerging fintech solution, potential users should assess the platform’s scalability and adaptability to their specific operational needs.

Note: Information based on publicly available sources at the time of writing, and summarized by AI.

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