PayByGroup is powering the social era of commerce by enabling people to rent and buy things together online. Whether it's friends renting a yacht for a birthday, siblings buying a gift for a parent, or an extended family renting a beach house, PayByGroup increases consumer purchasing power and merchant sales across a variety of industries. Consumers can start large purchases risk-free because no one is charged until a tipping point is reached, after which everyone pays their fair share. Merchants no longer suffer from shopping cart abandonment that results when groups try to purchase together via conventional means (typically known as wrangling cats!) and thus on average increase their sales by 10% using PayByGroup.
PayByGroup exists primarily as a checkout button on merchant sites, but is also available for consumer use at PayByGroup.com. The company is based in San Francisco, CA.
Geography: San Francisco, CA, USA
Other Investors: 500Startups and Ben Ling