Payabli, a payments infrastructure platform for software companies based in Miami, Florida, has closed a US$28 million Series B funding round.
This follows its Series A round completed nine months earlier, bringing total capital raised to US$60 million.
The latest round was led by Fika Ventures and QED Investors, with continued participation from existing investors TTV Capital and Bling Capital.
The funding reflects Payabli’s recent growth, including several billion in live processing volume and a sevenfold year-on-year revenue increase.
The company now supports over 50,000 merchants and has introduced embedded payments with several large enterprises in sectors with essential payment needs.
It has also expanded integrations and partnerships with processors and sponsor banks.
Payabli plans to use the new capital to accelerate product development, particularly in AI features designed to personalise customer experiences and improve operational efficiency.
The company will also strengthen its teams across customer success, operations, and go-to-market functions to support continued expansion.
Joseph Elias Phillips, Co-Founder and Co-CEO of Payabli, said,
“We are fortunate to be experiencing rapid growth at a time when AI is poised to revolutionise the financial services industry. When our investors approached us about doubling down on Payabli, we saw a clear opportunity to go on the offensive by accelerating AI enablement across our platform and organisation to drive further growth and bring groundbreaking new products and capabilities to market faster.”
Payabli is exploring AI across two key areas: streamlining operations and enhancing its platform through personalisation.
Its AI assistant, Amigo, is now accessible through technical documentation, the company’s web platform, and Slack.
Amigo supports software integration, customer service, and analytics through a chat-based interface.
Payabli is also developing proprietary fraud and risk detection models tailored to specific industries, in partnership with NVIDIA.
The company will continue expanding its Payables product suite, which includes capabilities for accepting payments, disbursing funds, and managing operations.
Following the launch of its On-Demand Payables feature, Payabli is introducing a spend management solution that enables platforms to offer branded physical and virtual cards.
With full API control over card issuance, spend limits, and fraud settings, the solution supports both credit and debit models.
The new funding will also support Payabli’s hiring efforts.
Operating on a remote-first basis, the Miami-based company was recently named to Inc.’s Best Workplaces for 2025.
Payabli is planning to hire across engineering, AI, product, go-to-market, finance and operations, and customer success.
Featured image credit: Payabli
