Startup Watch : BillFloat Helps you Pay your Bills

Paying off your bills is not always an easy task since the deadlines are different, the payment modes are different and you have to do them individually. Billfloat tries to solve this problem with their newly soft launched service. This sure automates billing, postpones your bills till the next pay check, but this comes at a fee.

Billfloat is backed by seed funding from paypal has also raised $4.5M series A funding. It is interesting to note that paypal also already a similar service billmelater. Billfloat is also said to be in talks with other financial services including debit cards.

Billfloat has a large database of services in the United States, ranging from phone services, internet, cable, insurance and other services which involve a monthly recurring payment. You can pick up a service, schedule your bill and request billfloat to pay your bill. You then have 30 days to settle your micro loan back to Billfloat. This loan does not come free and comes with a price tag of $4.99 or more depending on the amount.

billfloat

Billfloat seems to have done the homework with their analysis of United States users, and their stats show that a lot of them borrow money to cover their monthly bills. Waking up from the recession, a perfect opportunity and the right time to launch the product.

Trivia:
1. The system seems to be still in beta and less intuitive, while they are still shaping up the system.
2. I like the Logo a lot!
3. Also, they are hiring.

Teraom Quick Watch:

Company : BillFLoat

Funding : $4.5 Million Series A funding

Quick Pitch : Billfloat pays your utilities bills, you return billfloat 30 days later.

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