Payabli, a Miami, Florida-based SaaS payments startup that provides payment infrastructure and a monetization platform, raised $8 million in extension funding, adding to the $4 million it raised for its seed round in May 2022.
The investment round came from TTV Capital, Fika Ventures, and Bling Capital, with participation from several angel investors including Louis Beryl and Ershad Jamil.
With the capital, the company plans to bolster its growth, streamline and enhance the implementation process of its technology, and support its innovation efforts.
This investment comes after a strong period of growth for Payabli. During 2022, the company nearly tripled its revenues to reach seven figures.
Payabli’s API First Payments Infrastructure is a unified API that allows companies to easily implement a payment system. It supports payment acceptance, payment issuance, and robust payment operations tools to manage the tactical operations of a payments company.
Its omni-channel payment acceptance capabilities include invoicing, virtual terminals, card present solutions, subscription billing, and more. Other features include accounts payable, spend management, onboarding, underwriting, risk management, reporting, analytics, dispute management, and more.
Company: Centavo, Inc.
Raised: $8.0M
Round: Seed Round
Funding Month: March 2023
Lead Investors: TTV Capital, Fika Ventures, and Bling Capital
Additional Investors: Louis Beryl and Ershad Jamil
Company Website: https://www.payabli.com/
Software Category: Payment Infrastructure and Monetization Platform
About the Company: Payabli is a PayTech startup that provides payment infrastructure and a monetization platform with the core thesis “If you’re a software company, you’re a payments company.” Payabli’s emphasis on what they deem the 3Ps (PayIn, PayOut, and PayOps) continues to be their core focus. Its developer-friendly API allows software companies to easily integrate omni-channel payment acceptance capabilities like invoicing, virtual terminals, card present solutions, subscription billing, and more. They’ve invested in building robust payables solutions like Managed Payables to help SaaS companies simplify and optimize the accounts payable process. It helps Software companies make payments a core part of their business model to drive revenue, enhance customer lifetime value, and boost enterprise value.
Source: https://fintech.global/2023/03/17/miami-based-paytech-payabli-scores-8m/