Round led by QED Investors arrives after company surpasses 340%
growth in revenue over the past 12 months
Payabli, the payments infrastructure solution for software
companies, has closed a $20M Series A. The round was led by QED
Investors with participation from existing investors TTV Capital,
Fika Ventures and Bling Capital based on the company’s greater than
3X revenue growth. The new round of funding will be used to drive
further product innovation, reinforce security and scalability,
fuel new customer acquisition, and empower existing software
partners to integrate and activate total processing volume easier
and faster.
Payabli’s API-first Payments Infrastructure and Monetization
Platform allows software companies to make payments a core part of
their business model. Payabli focuses on providing a single unified
API to allow software developers to create any payment experience
they need for payment acceptance and payment issuance, as well as
robust payment operations tools to manage the tactical operations
of a payments company.
“We’ve been resolute in our product vision of unifying Pay In,
Pay Out and Pay Ops via a single unified API since founding the
company. The strong traction and growth we’ve experienced over the
last year is a testament to the fact that software companies have
become the modern distribution for payment processing and rely on
modern solutions like Payabli to run their payments business,” said
William Corbera, Payabli's Co-Founder, Co-CEO and Product
Architect.
“Our Seed round helped us establish credibility to go up-market
and win larger partnerships, as well as develop innovative products
like Creator, our no-code embedded component builder. Our Series A
will be invested to further fuel innovation, particularly in our
Pay Out and Pay Ops product categories, and better support our
software partners to not only easily integrate our technology, but
accelerate the activation of their total processing volume,” added
Joseph Elias Phillips, Co-Founder and Co-CEO of Payabli.
Payabli is unique in the embedded payments category given the
robustness of the company’s product offering focused on Pay In, Pay
Out and Pay Ops. Payabli’s Payment Acceptance offering has nuanced
vertical-specific capabilities that lend themselves to certain
“Need-to-Pay'' verticals, like property management, utilities,
education, government and more. Moreover, the company’s Embedded
Payables solution is an integral asset as it allows Payabli to grow
existing customer's share of wallet, and acquire customers that may
already have an established payment acceptance integration but are
interested in monetizing their sub merchants’ payables. Lastly,
Payabli has been a pioneer in the unbundling of payment operations
solutions, offering a-la-carte SaaS modules that software companies
can leverage as they scale their payments business to take on more
control over the user experience and to unlock superior
economics.
“While software platforms are increasingly embedding payments
and other financial products to generate new revenue streams and
deepen customer engagement, the supporting payments infrastructure
has not kept pace as traditional payment processors were not built
with software platforms in mind,” said Laura Bock, Partner at QED
Investors. “We were so excited when we met the Payabli team. Will
and Jo bring a wealth of payments and software expertise having
felt the pain firsthand while architecting Service Titan's payments
platform. There is a tectonic shift in payments volume onto
software companies, and Payabli is building the next generation of
payments infrastructure with this buyer front and center.”
Today, trillions of dollars in payment processing are shifting
from legacy systems and traditional channels to vertical SaaS
platforms, which act as industry-specific systems of record. This
integration offers SaaS companies a chance to boost revenue and
enhance customer experiences by embedding financial services
directly into their software. To scale this payments monetization
strategy, SaaS providers need modern infrastructure partners like
Payabli. Payabli delivers the technology and expertise to
seamlessly integrate payment solutions, helping SaaS companies
expand their offerings, drive growth, and strengthen customer
relationships.
“When we met Will and Jo two years ago, Payabli had just entered
the market. What we saw then still applies today: Payabli’s robust
product offering and easy-to-implement APIs solve a critical need
for software companies, as they need modern infrastructure to
successfully integrate payments into their platform,” said Neil
Kapur, Partner at TTV Capital. “Payabli’s upward trajectory over
the past year proves there is a strong product-market fit with even
more growth to come. We continue to be impressed by Will and Jo’s
leadership as they expand Payabli’s product offerings and forge new
customer partnerships, and we are proud to support them in this
next phase of the business.”
Payabli grew rapidly with over 340% growth in revenue in the
previous 12 months leading up to the Series A round. Payabli works
with over 60 software companies including Roofr.com, BuildOps,
PayHOA, BuilderPrime, CurbWaste, FitDEGREE, Cubby and Edstruments.
This latest round of funding will allow Payabli to hire more
engineering leadership and talent to further propel innovation and
scalability while hiring additional customer-focused team members
to acquire further partners.
About Payabli
Payabli is a next-generation Payments Infrastructure and
Monetization Platform that helps software companies make Payments a
core part of their business model through a single
developer-friendly API. Built by payment industry and SaaS
veterans, Payabli powers software companies with innovative payment
acceptance and issuance solutions, powerful payment operations
tools, and the ability to unlock lucrative economics. Payabli makes
Software companies Payments companies by giving them PayFac
capabilities without the heavy lift, administrative burden, and
exorbitant cost of becoming a payment facilitator. Payabli is
helping over 60 vertical SaaS companies build, manage, and scale
their Payments businesses. Payabli has raised $32,000,000 in
venture capital from respected fintech investors: QED, TTV Capital,
Fika Ventures and Bling Capital.
About QED Investors
QED Investors is a global leading venture capital firm based in
Alexandria, Va. Founded by Nigel Morris and Frank Rotman in 2007,
QED Investors is focused on investing in disruptive financial
services companies worldwide. QED Investors is dedicated to
building great businesses and uses a unique, hands-on approach that
leverages its partners’ decades of entrepreneurial and operational
experience, helping companies achieve breakthrough growth. Notable
investments include AvidXchange, Betterfly, Bitso, Caribou,
ClearScore, Current, Creditas, Credit Karma, Flywire, Kavak,
Klarna, Konfio, Loft, Mission Lane, Nubank, QuintoAndar, Remitly,
SoFi, Wagestream and Wayflyer.
About TTV Capital
Founded in 2000, TTV Capital is one of the longest-running
venture capital firms investing exclusively in early-stage fintech
companies. We create enduring value for our investors, founders,
and team by supporting our portfolio companies at every stage of
growth. Our distinct approach combines deep industry knowledge with
connections, resources, and founder-friendly relationships. TTV’s
portfolio includes more than 100 market leaders and emerging
pioneers across payments, banking, investing, crypto, and embedded
finance. The firm has been named to Inc.’s Founder-Friendly
Investors list, the top ten of the Founder’s Choice VC list, and
Institutional Investor’s Fintech Finance 40. TTV is headquartered
in Atlanta and has a presence in the Bay Area. For more
information, visit www.ttvcapital.com.
About Fika Ventures
Founded in 2016, Fika Ventures is a boutique early-stage venture
fund based in Los Angeles. We are hands-on investors who focus on
data-powered companies in enterprise software, marketplaces,
financial technology, digital health, and more across North
America. In Sweden, fika is an essential cultural activity that
involves getting to know someone better over a cup of coffee. For
us, it is an excuse to spend time with the best and brightest as
well as an opportunity to listen, create, and collaborate. Over the
past 8 years, we have backed 90 companies and over 170 exceptional
founders, many of whom have become leaders in their categories. We
are excited to continue building and supporting an incredible
community of entrepreneurs and changemakers who make an impact on
our future.
About Bling Capital
Bling Capital is an early stage venture fund founded in 2018 by
Ben Ling, a former product executive at Google, Facebook, and
YouTube. Since inception, Bling Capital has backed over 100
companies that have collectively raised over $2B. Bling Capital
offers a unique Product Council of 100+ top executives as resources
to its portfolio companies. We are honored to have been featured by
TechCrunch as “The VCs that Founders Love the Most” and Ben Ling
was recently ranked #5 on the 2024 Forbes Midas Seed List.
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Payabli Camille Phillips I 949.742.1389 Camille@payabli.com