Payable, a payments operations platform for businesses, has successfully raised $6.1 million in a funding round led by CRV and Earlybird.
Founded by former Checkout.com professionals Daniel Yubi and Razvan Musca, Payable provides a platform that enables companies to connect their banks and automate payment processes from initiation to reconciliation using a single API and dashboard.
Yubi expressed in a blog: “For a healthy economy, money needs to move efficiently between companies. Yet still in 2022, human intervention is required to download bank statements, reconcile payments, and initiate bank transfers. That’s insane!”
He further emphasized, “Our goal is for Payable to serve as the software that allows companies to integrate their corporate bank accounts, wallet providers, or financial data sources, enabling them to use one tool for initiating, tracking, and reconciling payments.”