Back in 2020, Joseph Elias Phillips and William Corbera saw the writing on the wall. Software companies were becoming financial platforms. But most of them lacked the payments infrastructure to pull it off. So, they built Payabli.
Five years later, that bet is paying off in a big way.
This week, the Miami-based startup announced a $28 million Series B round led by Fika Ventures and QED Investors, with support from previous backers TTV Capital and Bling Capital. It comes just nine months after Payabli’s Series A and brings total funding to $60 million.
Over the past year, Payabli processed multiple billions in live payment volume and grew revenue 7x. The platform now powers over 50,000 merchants and has embedded itself into some of the largest enterprise software platforms in industries where payments are critical.
“2024 was a transformative year for Payabli,” Phillips, co-founder and co-CEO, shared in a statement. “The flywheel of embedded payments truly kicked in and propelled us to outperform even our most ambitious goals.”
What’s driving this momentum? A full-stack, developer-first payments infrastructure that’s built specifically for software companies. Payabli’s platform helps these firms integrate Pay In, Pay Out, and Pay Ops capabilities without the need to become payment facilitators themselves – a complex and costly process most would rather avoid.
From day one, the company positioned itself not just as a payments tool, but as a monetization engine. “Our 3P strategy – Pay In, Pay Out, Pay Ops – has always been about giving software companies more control, more revenue, and more flexibility,” said Corbera.
The Series B will fuel Payabli’s expansion on multiple fronts. One focus is AI. The company recently launched Amigo, its in-house AI assistant, which lives inside their web platform, documentation, and even Slack. Amigo acts as a support rep, analytics tool, and integration coach, helping software partners onboard faster and solve problems more efficiently.
Payabli is also developing custom fraud and risk models trained on partner data, and is working with NVIDIA to scale these efforts.
Laura Bock, Partner at QED, said their decision to double down came down to timing and execution. “They’ve built the right platform at exactly the right time, as software platforms become the next major players in payments,” she said. “With a full-stack offering, rapid product velocity, and strong traction in complex verticals, Payabli has emerged as a category leader.”
That sentiment was echoed by TX Zhuo, Managing Partner at Fika Ventures: “Jo and Will consistently exceed expectations as they build the future of embedded payments. Their ability to win in complex, need-to-pay verticals is unmatched.”
Beyond infrastructure and AI, the team is also rolling out a new embedded spend management solution, giving software platforms tools to issue virtual and physical cards, set spend limits, and manage fraud controls through their own branded expense programs. With this product, platforms can now capture interchange revenue and replace third-party expense tools with their own embedded solutions.
It’s part of a broader push to make Payabli indispensable to software firms, turning them into modern financial platforms in their own right.
With momentum on its side, Payabli is also hiring across engineering, AI, product, finance, and customer success. The team was just named to Inc.’s Best Workplaces for 2025, a recognition Phillips said reflects their mission to “power the entrepreneurial economy by making software companies payments companies.”
READ MORE IN REFRESH MIAMI:
- Payabli secures $20M to help SaaS companies get paid
- Inside the immigrant-focused startup outpacing VC-backed rivals
- Rails launches with $14M to fix what FTX broke
- Palla raises $14.5M to power instant cross-border payments for banks
- Miami startup Gail secures $8.2M to build the AI-powered brain of financial services
- Koywe’s answer to slow international payments started with a lifelong friendship - September 9, 2026
- Split Pay raises $125M to give your paycheck better timing - September 9, 2026
- PRIMA raises $5M to turn hot tables into a referral business - September 4, 2026