US start-up Payabli raises $20m in Series A funding round led by QED Investors
US-based payments infrastructure firm Payabli has raised $20 million in a Series A funding round led by QED Investors.
Payabli raises $20m Series A led by QED Investors
The funds raised from the round – which was also supported by existing investors TTV Capital, Fika Ventures and Bling Capital – will be put towards “further product innovation”, according to the company.
Founded in 2020 and headquartered in Miami, Payabli operates an API-first payments infrastructure and monetisation platform that enables software companies to build payment capabilities, including payment acceptance and issuance, into their offerings.
The company says its single unified API allows software developers “to create any payment experience they need” while also providing “robust payment operations tools to manage the tactical operations of a payments company”.
Payabli aims to use its new funding to boost its platform’s scalability and security, while also fuelling “new customer acquisition” amid its claim to have achieved “340% growth in revenue over the past 12 months”.
Joseph Elias Phillips, co-founder and co-CEO of Payabli, explains that the company’s efforts will focus particularly on “our Pay Out and Pay Ops product categories”, as well as enabling its software partners to “not only easily integrate our technology, but accelerate the activation of their total processing volume”.
To support this endeavour operationally, the firm adds it will seek to “hire more engineering leadership and talent” alongside “additional customer-focused team members to acquire further partners”.
The raise builds on the $4 million seed funding round secured by the company in May 2022, along with the $8 million extension obtained the following March.
