Payabli secures $20m in Series A to enhance payment solutions for software companies
Payabli, a pioneering payment infrastructure provider for software companies, has successfully closed a $20 million Series A funding round. This significant investment was led by QED Investors, with participation from existing investors including TTV Capital, Fika Ventures, and Bling Capital. The infusion of capital comes on the heels of Payabli experiencing a remarkable revenue growth exceeding 340% over the past year.
The newly acquired funds are earmarked for a variety of strategic initiatives aimed at amplifying the company’s market impact. Key areas of focus include advancing product innovation, enhancing security features, increasing scalability, and broadening customer acquisition efforts. Additionally, the funding will support the enhancement of Payabli’s existing software partnerships, facilitating easier and quicker integration and activation of total processing volumes through its API-first Payments Infrastructure and Monetization Platform.
Payabli’s platform is distinguished by its comprehensive offering that includes Pay In, Pay Out, and Pay Ops solutions, all accessible via a single unified API. This approach not only simplifies the payment experience for software developers but also enables them to tailor payment solutions to their specific needs, encompassing payment acceptance, issuance, and robust operational tools.
Co-founders William Corbera and Joseph Elias Phillips emphasize the strategic significance of this funding in furthering Payabli’s mission. Corbera highlights the company’s steadfast commitment to unifying various payment functionalities under one API, a vision that has propelled their growth. Phillips adds that the Series A investment will fuel further innovations, particularly in Pay Out and Pay Ops product categories, thereby enhancing support for software partners.
Laura Bock, Partner at QED Investors, praises Payabli’s forward-thinking approach, noting the shift in payment processing from traditional systems to software platforms. She commends the founders for their deep industry expertise and visionary leadership in developing a solution that aligns with the evolving needs of software companies.
With the rise of industry-specific SaaS platforms, there is a burgeoning opportunity for these platforms to enhance their service offerings by integrating financial services. Payabli is at the forefront of this transformation, providing the essential infrastructure that allows software companies to seamlessly incorporate payment solutions, thereby boosting revenue and enhancing customer engagement.
The company’s client list includes notable names such as Roofr.com, BuildOps, and PayHOA, among others. The recent funding will also facilitate the expansion of Payabli’s team, particularly in engineering and customer service, to support continued growth and innovation.
Neil Kapur, Partner at TTV Capital, commends Payabli’s trajectory and the strategic direction under the leadership of Corbera and Phillips. He reflects on the company’s consistent growth and product-market fit, which he believes will continue to attract more partnerships and foster expansion.
Payabli’s successful funding round marks a significant milestone in its journey to redefine the payments landscape for software companies. With a robust product suite and a strategic focus on expanding its capabilities and reach, Payabli is well-positioned to continue its rapid growth and influence in the fintech industry.