Payabli, which specializes in developing a payment infrastructure solution, was able to raise $20 million in investment funds as part of a Series A financing round.
The mentioned firm, which provides software as a service (SaaS) to consumers, plans to spend the money received to stimulate the product elaboration process. Also, part of the investment funds will be directed to reinforce security and scalability. The relevant information is contained in the company’s press release, which was published last Tuesday, June 25.
The current Payabli’s activity plans also include expanding the customer base. Moreover, the company intends to provide its existing software development partners with an easier and faster way to integrate and activate the total processing volume. The relevant information is contained in the press release of the firm.
Payabli offers client companies an API that provides them with the ability to customize payment acceptance and issuance. The firm also offers consumers the tools they need to conduct payment transactions. Using the Payabli platform, software companies can make payments a core part of their business model.
The firm’s co-founder, co-CEO, and Product Architect William Corbera says that since its founding, Payabli has adhered to the concept of combining operations for in and out payments using a single unified API. He also stated that companies specializing in software have become a modern distribution for processing payment transactions. Moreover, William Corbera says that the mentioned firms rely on solutions such as Payabli to run their payment business.
The financing round was led by QED Investors. Existing investors, including TTV Capital, Fika Ventures, and Bling Capital, also participated in this process.
As for investing in area SaaS, it should be mentioned that in May Forward raised $16 million. The company intends to use these funds to help more SaaS firms add payments as a product. In June, AccountsIQ raised $65 million. In part, the result of this funding round will drive the international growth of the SaaS Financial Management System (FMS) of the specified firm.
Currently, the tendency in the popularity of automated transactions is observed in the B2B payment space. Until now, many businesses have relied on traditional payment processes. Innovative solutions in this industry offer companies a faster way to pay and get payments. Using these solutions, firms better grasp their cash flows. Also, in the corresponding case companies can optimize their activity.
Boost Payment Solutions Chief Operating Officer Illya Shell in May, during a conversation with media representatives, said that traditionally payments were an afterthought, but upgrading global B2B functional solutions is an enormous opportunity. He envisions a situation in which globalization, cost-sharing models, and tokenization of payment products will redefine the future contours of B2B payments, ensuring that transactions are carried out efficiently and at the lowest possible cost.
As we have reported earlier, Genesys Acquires AI SaaS Startup Radarr.
