Doxo Looks to Disrupt Payments Industry, Gets New $10 Million in Funding

Chris CrumBusiness

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Doxo, a startup looking to overhaul the payments industry, has raised a new $10 million round of funding from new and existing investors like Amazon CEO Jeff Bezos' Bezos Expeditions.

What Doxo does is enable consumers to securely receive, manage, store and now PAY their bills and other documents from multiple service providers from one place with one password, online. CEO Steve Shivers told WebProNews how he plans to disrupt the payments industry. He gave us four points:

1. Payments to billers are 100% paperless (people only can pay via doxo when they are paperless for the bills), which is important to providers. 

2. Lower cost for billers. Paper savings + no credit card fees = lowest cost roundtrip of servicing the customer.

3. Solve key consumer barriers. User always in control of when money moves (never just taken from their account without user rules or input). One place to manage payment information, not with each biller. Neutral and not dependent on any one relationship.

4. Free to the consumer.

Doxo Wants to Disrupt the Payments Industry

"Doxo is always free to the consumer, and is NOT advertising supported," Shivers tells us. "Doxo's business model is based on charging providers who send the documents."

The company has now announced the addition of Puget Sound Energy to its list of providers, which also includes Sprint, and Kansas City Power and Light. More will be announced soon, Shivers says.
Chris Crum
Chris Crum has been a part of the WebProNews team and the iEntry Network of B2B Publications since 2003. Follow Chris on Twitter, on StumbleUpon, on Pinterest and/or on Google: +Chris Crum.