Joseph Phillips and William Corbera, both from business backgrounds, have been friends for more than a decade.
Corbera co-founded RevoPay, a payment processing platform that was acquired by payments solutions firm OSG in 2022. Phillips, for his part, led Seamless’ national sales team before leading sales of ServiceTitan, a management tool web-based for construction contractors. .
In 2020, Phillips and Corbera, who had worked in payments-related jobs for several years, decided to team up to found their own payments-focused company called Payabli. Payabli builds the infrastructure that allows businesses, specifically software companies, to integrate and facilitate payments through APIs.
“Payabli creates payment issuance and acceptance solutions [and] payment operations tools,” Corbera told TechCrunch. “We turn software companies into payments companies by providing them with payment facilitation capabilities without the heavy burden, administrative burden and exorbitant cost of becoming payment facilitators.”
Basically, Payabli is trying to disrupt traditional payment facilitators like Stripe, Adyen and Paytrix – companies that allow customers to accept electronic payments using their platforms. Payment facilitators act as intermediaries between businesses and their banks, providing the back-end for payment processing.
Payabli offers the standard range of “checkout” payment acceptance tools, including tools to allow a business’s customers to make recurring or scheduled payments or request invoices. But it also provides “payment” tools to help businesses themselves pay sellers and suppliers, such as virtual credit cards, physical checks, and banking integrations.
Payabli’s services also extend to various “payment operations” products, including products designed to mitigate risk and fraud, manage disputes and compliance, and facilitate underwriting.
“Payments and other fintech programs are the low-hanging fruit for software companies to generate new revenue and create stronger, more valuable customer relationships,” Corbera said. “This is not only true for software companies, but also for any entity that coordinates the movement of money between payers and recipients.”
Payabli’s commercialization approach has won approval from venture capitalists, who have invested a substantial amount of capital in the startup. Payabli announced this week that it raised $20 million in a Series A funding round led by TTV Capital, Fika Ventures and Bling Capital, bringing the company’s total raised to $32 million at a “nine-figure” valuation. . (Corbera did not reveal the exact amount.)
Payabli has about 60 clients, Corbera said, adding that revenue has tripled in the past 12 months to “seven figures.”
“The new funding round will be used to drive further product innovation, strengthen security and scalability, drive new customer acquisition, and empower existing software partners to more easily integrate and activate full processing volume.” and fast,” said Corbera. “We had over 16 months of runway left when we raised, but decided to do so opportunistically to further accelerate our growth and acquire some large enterprise clients.”
Payabli, based in Miami, has 49 employees and expects to have almost 70 by the end of the year.
