Latest news with #Payabli
Axios
17 hours ago
- Business
- Axios
Exclusive: Payabli raises $28M to scale embedded payments
Payabli, a Miami-based embedded payments platform, has raised $28 million in Series B funding led by existing investors Fika Ventures and QED Investors, its founders tell Axios exclusively. Why it matters: Payments are becoming a core strategy for software vendors and SaaS platforms to unlock new revenue streams and deepen customer relationships. How it works: Payabli provides vertical software companies with an embedded platform that combines payment acceptance, payment issuance, and payment operations under a single API. This lets software vendors and vertical SaaS providers offer branded payment solutions without managing multiple third-party providers. "We remain laser-focused on our mission of making all software companies payment companies," co-founder William Corbera says. "And on unifying pay-in, pay-out and pay-ops through a single, unified API." What they're saying: "Vertical-SaaS platforms used to see payments purely as a cost center, but Payabli makes it so easy to embed and monetize that it's a no-brainer," Fika Ventures general partner TX Zhuo says. By the numbers: Payabli has grown nearly 8x since its Series A, processing billions annually and supporting over 50,000 merchants, Phillips says. He expects the company to support over 100,000 merchants by year's end. Between the lines: Insiders QED and Fika decided to double down on the company less than a year after it raised its Series A round. "We didn't need the money ... but our investors came to us. They see Payabli as a multiple-billion-dollar company and wanted to accelerate our growth," co-founder Joseph Elias Phillips says. Zhuo notes that the Series B round was the largest check Fika has written to date. "The team is building the go-to platform for software companies looking to embed payments, and we wanted to ensure they had capital to accelerate," QED partner Laura Bock said in an email. The latest: With the new funding, the company is betting big on AI, which it uses for risk management, fraud detection, customer support, and platform integration. It recently introduced an AI-powered support agent, Amigo, that is trained on extensive customer and platform data. "We've been investing heavily in AI — from Amigo on the support side to risk-and-fraud models across the platform — to keep the infrastructure reliable as we scale," Phillips says. Zoom in: The funding brings Payabli's total raised to $60 million, just nine months after its Series A.
Yahoo
2 days ago
- Business
- Yahoo
Payabli secures $28m in Series B funding
Payabli, a payments infrastructure platform serving software firms, has raised $28m in its Series B financing round. This round was led by Fika Ventures and QED Investors, with additional contribution from current investors TTV Capital and Bling Capital. It comes nine months after the company's Series A, bringing the total capital raised to $60m. With the fresh infusion, Payabli plans to continue product development and expand its 3P offering, including Pay In, Pay Out, and Pay Ops capabilities. The company has launched an embedded Spend Management solution, offering branded expense programs with physical and virtual cards, giving platforms full API control and the ability to capture interchange revenue. The company states the recent funding will enable Payabli, headquartered in Florida, to grow its team further. Fika Ventures managing partner TX Zhuo said: 'We've believed in Payabli's vision since day one and have seen Jo and Will consistently exceed expectations as they build the future of embedded payments. Their ability to deliver a full stack, developer first platform that wins in complex, need-to-pay verticals is unmatched.' QED Investors Partner Laura Bock said: 'We initially backed Payabli because we believe deeply in Jo and Will's approach to embedded payments—and they've executed relentlessly. They've built the right platform at exactly the right time, as software platforms become the next major players in payments. With a full-stack offering, rapid product velocity, and strong traction in complex verticals, Payabli has emerged as a category leader. We're excited to double down and support their next phase of growth as they redefine modern payments infrastructure.' The Series B funding builds on Payabli's growth over the past year, highlighted by a sevenfold increase in revenue and the activation of multiple billions in live processing volume, the company release stated. The platform now has over 50,000 merchants and has introduced embedded payments for enterprises in essential payment verticals, alongside multiple new integrations and partnerships. The company aims to enhance its product development with the new funding, focusing on AI-powered features to provide customised customer experiences. Payabli is harnessing the power of AI to streamline operations and enhance customer experiences. The company's first AI-driven support agent, Amigo, is stated to assist software companies with integration, support, and analytics through a chat-based interface. Payabli is also building 'advanced' risk and fraud detection models, leveraging NVIDIA's AI infrastructure to provide tailored risk assessments. "Payabli secures $28m in Series B funding" was originally created and published by Electronic Payments International, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Sign in to access your portfolio
Finextra
2 days ago
- Business
- Finextra
Payabli raises $28M Series B
Embedded payments platform Payabli has closed on a $28 million Series B funding round. 0 The new funding comes just nine months after Payabli raised its Series A led by QED Investors bringing the total capital in the company to date to $60,000,000. The Series B is led by Fika Ventures and QED Investors with participation from existing investors TTV Capital and Bling Capital. California-based Payabli provides a single unified API to allow software developers to create any payment experience they need for acceptance and issuance of money, as well as operational tools to manage the tactical needs of a payments company. This includes vertical-specific capabilities that lend themselves to certain 'Need-to-Pay' businesses, like property management, utilities, education, and government. Over the past year, the company has posted a 7x year-over-year increase in revenue and surpassed 50,000 merchants on its platform. Joseph Elias Phillips, co-founder and Co-CEO of Payabl, says the new funding will be directed to product development, with a focus on AI-driven features. 'We're fortunate to be experiencing rapid growth at a time when AI is poised to revolutionize the financial services industry," he says. "When our investors approached us about doubling down on Payabli, we saw a clear opportunity to go on the offensive by accelerating AI enablement across our platform and organization to drive further growth and bring groundbreaking new products and capabilities to market faster.' Payabli recently launched Amigo, its first AI-powered support agent, now available through the company's technical documentation, web platform, and natively within Slack. Amigo delivers a wide range of functionality, from acting as a solution engineer that helps software companies integrate faster, to serving as a support representative that resolves tickets quickly, to functioning as a business analyst that assists software partners with reporting and analytics through a user-friendly, chat-based interface. In parallel, Payabli is working with Nvidia to develop advanced risk and fraud detection models trained on proprietary customer data to deliver tailored risk assessments specific to each customer's business and industry.
