Payabli, the payments infrastructure solution for software companies, has closed a $20M Series A.
The investment round was reportedly “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.”
William Corbera, Payabli’s Co-Founder, Co-CEO and Product Architect said:
“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.”
Joseph Elias Phillips, Co-Founder and Co-CEO of Payabli said:
“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.”
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.”
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 “integrate payment solutions, helping SaaS companies expand their offerings, drive growth, and strengthen customer relationships.”
Payabli grew steadily 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.”