Latest from Axios
Axios
3 hours ago
- Business
- Axios
Exclusive: Base10 leads €25M round for Italian HR startup Jet HR
Jet HR, a Milan-based platform serving small and midsized enterprises, raised €25 million in funding led by Base10 Partners, founder Marco Ogliengo tells Axios exclusively. Why it matters: There is increased investor appetite for vertical SaaS solutions tailored to regional markets with high regulatory complexity. How it works: Jet HR provides an all-in-one payroll and HR platform that is specifically designed to navigate Italy's complex payroll regulations. It integrates with over 600 government entities and offers modules for payroll, health and safety course management, VAT account management, shift scheduling, and time and attendance tracking. The big picture: Italy's payroll processing market is notably expensive and complex, averaging over €30 per employee per month compared to about $6 for U.S.-based payroll services. Jet HR is betting that its digital-first platform and simplified regulatory management give it an edge over legacy incumbents like Zucchetti and TeamSystem, which Ogliengo says rely more heavily on manual processes. By the numbers: The startup says it grew its annual recurring revenue 6x in 2024 and serves more than 700 customers, primarily SMEs with an average of around 15 employees. Context: Before Jet HR, Ogliengo founded ProntoPro, a marketplace for local service professionals — like a Thumbtack for Italy. Zoom in: Since its founding in December 2022, Jet has raised about €42 million from investors that include Exor Ventures, Italian Founders Fund, and Picus Capital. Ogliengo notes the company was close to breaking even without the additional funding, but "having more capital now increases our optionality significantly," he says. Between the lines: The round marks Base10's first investment in Italy, reflecting a growing interest in under-invested European markets. "We were already very well networked across Europe through our existing investors. The first thing Base10 brings is the U.S. network. Moreover, Base10 is specialized in vertical SaaS and payroll and accounting," Ogliengo says. Along with the funding, Base10's Adeyemi Ajao — founder of Tuenti and former investor in Stripe, Nubank, and Cabify — will join Jet HR's board. What's next: Jet HR plans to double its team in the next 18 months, primarily investing in software engineering and product development.
Axios
5 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.
Axios
7 hours ago
- Politics
- Axios
GOP congressman says he was "run off the road" by man with Palestinian flag
Rep. Max Miller (R-Ohio) said Thursday he contacted the Capitol Police after being "run off the road" by a man displaying a Palestinian flag while he was driving in his congressional district. Why it matters: The alleged incident comes as lawmakers are still reeling from the shooting of two Minnesota state legislators and their spouses last weekend that left one couple dead and another hospitalized. The attack has left members of Congress in both parties in a state of heightened alarm about their personal security and pushing for more Capitol Police protection. Driving the news: "Today I was run off the road ... and the life of me and my family was threatened by a person who proceeded to show a Palestinian flag before taking off," Miller said in a post on social media. Miller said in an accompanying video that the man initially "decided to lay on his horn," but then ran him off the road "when he couldn't get my attention." The man also yelled "death to Israel," he said. Miller, who is Jewish and pro-Israel, has been open about his fears of antisemitic violence since the onset of the war in Gaza, telling Axios in 2023 that he carries a weapon for self-protection. State of play: Miller claimed to know the identity of the alleged assailant, though he didn't name them in the video. "We know exactly who you are ... and the police are going to pay you a visit," he said in the video, writing in his post that he filed a report with the Capitol Police. A Capitol Police spokesperson did not immediately respond to Axios' request for comment. What they're saying: House Democratic leadership, in a joint statement, re-upped their call to House Speaker Mike Johnson (R-La.) to allocate additional funds for members' security after the Minnesota shootings. "We condemn in the strongest possible terms the attack on Congressman Max Miller and his family and are thankful they are safe," said House Minority Leader Hakeem Jeffries (D-N.Y.), Minority Whip Katherine Clark (D-Mass.) and Democratic caucus chair Pete Aguilar (D-Calif.). "The rise in political violence in this country is unacceptable," they continued. "This is a moment of crisis that requires Congress to act decisively in order to ensure the safety of every single Member."
Axios
8 hours ago
- Business
- Axios
Supply chain tech startup Pelico raises $40M round led by General Catalyst
Supply chain orchestration platform Pelico raised $40 million in strategic financing led by General Catalyst, co-founder Tarik Benabdallah tells Axios Pro. Why it matters: Fragmented supply chains restrict manufacturers' ability to make proactive decisions and rapidly respond to disruptions. Follow the money: Existing investors 83North and Serena joined General Catalyst in the financing round. Pelico has raised $72 million to date. How it works: Miami-based Pelico provides a platform to synchronize data and processes, helping manufacturers reduce backlog and lower inventory costs. It serves aerospace, defense, luxury and industrial customers, though Benabdallah sees relevance in medical devices and energy. What they're saying:"In a factory, every day, at 7am when you show up, you have a perfect plan," Benabdallah says. "On average, [by] 7:16, it's a different story. "It's a late delivery from a supplier, quality issue, some operations that didn't finish on time, demand change from a customer. Each one of those disruptions basically has snowball effects." Pelico "collects data from the systems and continuously scans for those disruptions [and] propagates their impact so that teams stay aligned," Benabdallah says. "We've been deeply impressed by the team's ability to deliver measurable impact in complex environments — fast, global and enterprise-grade," Jeannette zu Fürstenberg, General Catalyst managing director and La Famiglia founding partner, tells Axios Pro. By the numbers: Customers see an average reduction of 40% in parts shortages and a 15% increase in on-time deliveries, according to the company. Customers such as Airbus, Safran, Eaton and Daikin have successfully deployed Pelico in only 12 weeks, the startup says. Pelico's customers operate more than 1,000 factories globally, and the startup works with half of the world's top 10 aerospace and defense firms. Zoom in: The platform "brings structure, clarity and collaboration into environments where even a single late part can disrupt billion-dollar production lines," Zu Fürstenberg says. Catch up quick: Pelico was founded in Paris in 2019 by Benabdallah, Mamoun Alaoui and Jonathan Hickson. The company also maintains offices in Miami and Frankfurt, Germany. Pelico raised $18 million led by 83 North and Serena in 2022. What's next: The startup will be able to foresee its profitability within two years if it does not take on any new funding to accelerate its growth, Benabdallah says.
Axios
9 hours ago
- Health
- Axios
You can still get vitamin D while using sunscreen
Getting sun helps you get vitamin D, but too much sun is bad for your skin — and wearing sunscreen could reduce vitamin D absorption. Why it matters: It feels like a conundrum.
