Embedded payments platform Payabli has successfully secured $20 million in a Series A funding round.
Based in California, Payabli offers a unified API that enables software developers to create tailored payment experiences for both payment acceptance and issuance, along with operational tools to manage the complexities of a payments business. The platform is particularly suited for “Need-to-Pay” industries, including property management, utilities, education, and government services.
The company, which collaborates with over 60 software firms, reported an impressive 340% revenue growth in the year leading up to this funding round.
Joseph Elias Phillips, co-founder and co-CEO of Payabli, commented, “Our Series A will be invested to further fuel innovation, especially in our Pay Out and Pay Ops product categories, and enhance support for our software partners, simplifying integration and accelerating their processing volume activation.”
This funding round was led by QED Investors, with contributions from existing backers TTV Capital, Fika Ventures, and Bling Capital, driven by the company’s significant revenue growth exceeding 3X.
Laura Bock, a partner at QED Investors, noted, “As software platforms increasingly embed payments and other financial products to create new revenue streams and enhance customer engagement, the underlying payments infrastructure must evolve. Traditional payment processors are not designed with software platforms in mind. Payabli is at the forefront of a significant shift in payment volumes towards software companies, crafting the next generation of payments infrastructure.”