Managing a team is not a very easy task, specially when it comes to getting the dues from the team members. Here comes WePay for your rescue. This is a promising startup in private beta that wants to fix group payments for good.

According to recent reports, the company had raised $1.65 million from August Capital and some angel investors. The company also has some big names backing them- PayPal cofounder Max Levchin as an investor, PayPal alum Dave McClure onboard, Paul Buchheit, Ron Conway, Mark Goines, Andrew McCollum, Joe Campanelli, and Angus Davis. WePay is also a part of the Y Combinator program.

PayPal cannot handle group payments as the account is tied to your name. On WePay, you can create a unique; FDIC insured account for your soccer team, your fraternity or your own personal transactions. Even though the account is still associated with your name, but you can make each group account totally separate.

WePay can also fully manage the payments to and from each of these accounts. When you want to collect money from your team, you can automatically send an Email to each player informing them the amount to be paid. Your team members can pay immediately through the website using a credit card or direct account transfer, or they can submit a check. For people who do not pay it, WePay will automatically remind them a few days later.

WePay charges a 3.5% transaction fee. However, there is another plan that charges 50 cents per transaction.

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