Round led by QED Investors arrives after company surpasses 340% growth in revenue over the past 12 months

June 25, 2024 09:00 AM Pacific Daylight Time

MIAMI–(BUSINESS WIRE)–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.

“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”

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.

Contacts

Payabli
Camille Phillips I 949.742.1389
Camille@payabli.com

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