The people
What they build
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Working at SparcPay
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On the TechTO stage
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About
SparcPay attacks the paperwork in business-to-business payments. Its founder's pitch from the TechTO stage in March 2021 was that most B2B invoices are still processed on paper and most are keyed into accounting systems by hand, which produces errors, then reconciliation work, then delay — friction he put, citing Scotiabank and other studies, at over $75 billion a year across North America. The product is end-to-end: capture the bill, synchronise the transaction for both the payer and the vendor, approve it from any device, and settle it digitally, with deep integrations into accounting platforms and into property-management systems including Yardi, Buildium and RentManager. It sells into property management, non-profits, accounting firms and hospitality, and is registered as a money services business with FINTRAC. Wally Vogel is co-founder and CEO; his previous company, Creditron, automated receivables processing at scale for clients he named on stage as Sun Life, Transamerica, the City of Toronto and the State of California. Lyle Juravsky is co-founder and CTO. The company presented as Sparcblock in 2021 and now trades as SparcPay; sparcblock.com redirects to the current site.
Backers
Aggregator profiles list a single undisclosed round with institutional investors including Graphite Ventures and MaRS IAF. No round size or announcement was found on a first-party or press source.
Quick answers
What does SparcPay do?
It automates accounts payable for businesses: capturing supplier bills, routing them for approval from any device and settling them digitally, with integrations into accounting software and property-management platforms such as Yardi, Buildium and RentManager.
Who founded SparcPay?
Wally Vogel, Lyle Juravsky and Kabir Daswani, in 2018. Vogel is co-founder and CEO and Juravsky is co-founder and CTO; before SparcPay, Vogel founded and ran the receivables-automation company Creditron.
Is SparcPay the same company as Sparcblock?
Yes. It presented at the Intuit Prosperity Accelerator Demo Day in March 2021 as Sparcblock, and sparcblock.com now redirects to sparcpay.com. The page is named for the current brand.
What did SparcPay present at TechTO?
Wally Vogel demoed it on the TechTO stage in March 2021, arguing that paper and manual data entry cost North American businesses over $75 billion a year in payment friction, and showing the end-to-end approach that synchronises a transaction for payer and vendor at once.