Paysquad: Buy Now, Pay Together

Josh Muccio (0:00)

Welcome to The Pitch, where startup founders raise millions and listeners can invest. I'm Josh Muccio.

Lisa Muccio (0:05)

And I'm Lisa Muccio. And on the show today, we have Cam with Paysquad. He's raising $1.5 million.

Josh Muccio (0:12)

All right, I'm going to say the name, you have to guess what it is. Paysquad.

Lisa Muccio (0:16)

Oh, a squad that pays together. You cheated.

Josh Muccio (0:18)

You know that that's the answer.

Okay, yeah, so money. Let's talk about money. Specifically, a little button at checkout called buy now pay later.

Lisa Muccio (0:29)

Oh, yeah.

Josh Muccio (0:30)

What if there was a button there where you could pay with your buddies? Buy now pay together.

Lisa Muccio (0:35)

But I could just be like, hey, I paid for this, everyone Venmo me. And then what happens? Half the people don't send you the money and you're stuck foot in the bill.

Josh Muccio (0:44)

Always.

Lisa Muccio (0:44)

Like trying to go see the Goo Goo Dolls with my brother Cody. And I'm like, hey, buy those tickets.

I think he still hasn't bought those tickets.

Josh Muccio (0:54)

I have to confess something, Lisa.

Lisa Muccio (0:56)

What?

Josh Muccio (0:57)

I don't really like the Goo Goo Dolls.

Lisa Muccio (0:58)

What?

Josh Muccio (1:00)

I don't know.

Lisa Muccio (1:00)

You don't want to go? Fine, then I'll go with that. You mean just me and Cody.

Cam Richardson (1:03)

No, no, I'm going. No, you're not invited anymore.

SPEAKER_4 (1:05)

I'm going to support you.

Lisa Muccio (1:06)

You don't like the Goo Goo Dolls?

Josh Muccio (1:08)

I just never.

Lisa Muccio (1:09)

Who doesn't like the Goo Goo Dolls?

Josh Muccio (1:10)

I grew up not listening to them. I want to like them.

Lisa Muccio (1:13)

You're not in the squad anymore. I'm kicking you out.

Josh Muccio (1:17)

Well, the question is, does the world really need another button at checkout or is Venmo enough?

Lisa Muccio (1:24)

The Pitch for Paysquad is coming up after this.

Josh Muccio (1:29)

But first, we are hosting two live events this season, one in SF coming up at SF Tech Week, and another one in November in New York City.

Lisa Muccio (1:40)

We're also hosting our next taping of Season 17 in San Francisco. Join us at any of these events, go to pitch.show.events.

Josh Muccio (1:50)

Welcome back to The Pitch for Paysquad. Let's meet the investors.

Elizabeth Yin with Hustle Fund.

Elizabeth Yin (1:56)

My best deals have been the ones that I've committed on the spot.

Josh Muccio (1:59)

Charles Hudson with Precursor Ventures.

Charles Hudson (2:01)

We have 500 companies, so you pick it, we have it.

Josh Muccio (2:04)

Mike Ma with Sidecut Ventures.

Mike Ma (2:06)

I got strings. I'm not an easy yes.

Josh Muccio (2:08)

Jesse Middleton with Flybridge.

Jesse Middleton (2:10)

I'm so sick of people that are building stuff for building stuff's sake.

Josh Muccio (2:14)

A new investor to the show, Yasmin Cruz Ferrine with Visible Hands.

Yasmin Cruz Ferrine (2:18)

There's one thing to be the first, but then there will be fast followers.

Charles Hudson (2:27)

The Pitch, day two, pitch one.

SPEAKER_10 (2:30)

Oh, perfect.

Elizabeth Yin (2:33)

That's how it's done.

Jesse Middleton (2:34)

How are we doing? Howdy.

SPEAKER_10 (2:37)

Morning.

Jesse Middleton (2:38)

Morning. Hey, Charles.

SPEAKER_10 (2:39)

Nice to meet you, Kim. Yasmin.

Jesse Middleton (2:41)

Yasmin.

SPEAKER_10 (2:41)

Lovely.

Jesse Middleton (2:42)

Hey, Jesse.

Cam Richardson (2:43)

Nice to meet you. Elizabeth. Nice to meet you.

Jesse Middleton (2:45)

Mike. Mike.

Cam Richardson (2:45)

Great to meet you.

Fantastic. Kia ora. I'm Cam Richardson, founder of Paysquad. Quick story. At my 21st party, my friends rolled out a three-wheeled motorbike as my gift. I was like, fellas, how did you do this? I said, Cam, everybody at the party chipped in to get this for you. Now, to some people, that's a nice memory. To me, it was a paradigm shift where I realized how much more is possible when people do things together and I had to see it happen more. The problem is, every time since then, whether we were buying a group gift or traveling together or buying tickets to a game and actually wanting to sit together, it was the same pain. One person, usually me, had to front the whole cost and then chase people to pay me back one by one. It was awkward, slow and it strains relationships. The world is designed for solo shopping, so when you hit checkout, you're going to see a pay now option. You might see a pay later option, but you're almost never going to see a pay together option, despite the fact that 30% of Gen Z, like myself, share the cost for something every day. So we built Paysquad to make group payments native at checkout. It's the first, buy now, pay together.