HYDERABAD: Technology has brought with it efficiency and transparency into several businesses through innovative products and solutions. One such proposition in the domain of Property Rental management is Paymatrix, which streamlines rent and deposit payments and collections by facilitating credit. This Hyderabad-based end- to-end digital rent management platform becomes the first start-up to be selected and supported by IIIT Seed Fund.
Paymatrix enables tenant profiling, rental documentation, rent payment management and risk mitigation for thousands of tenants, landlords and property managers across India.
The start-up’s value proposition starts with profiling the right tenant for a landlord using an algorithm designed to incorporate identity, social, credit and psychometric attributes. Tenants and landlords can then also get into a lease with digital rent/ lease agreements easily and ensure transparent documentation. The platform further helps the tenants to better manage their rent and deposits to landlord by extending the facility of credit both with and without a credit card.
IIIT Seed Fund’s focus is to nurture seed stage, early stage start-ups, innovative technologies, support them with mentoring and coaching, business guidance, market access, and any other growth stage support. “As mentors and key players in the start-up ecosystem, we found that the lack of resources, mentoring, market reach and early stage funding seriously impedes and limits many start-up founders with great ideas. As a group, we wanted to address this through the mentor intensive fund we launched along with IIIT Hyderabad Foundation. IIIT Seed Fund is keen to invest in start-ups improving efficiencies and democratizing the financial systems,” said Viiveck Verma, Cofounder & Designated Partner IIIT Seed Fund.
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