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Payble banks $3.5 million investment | Fintech InShorts: Latest fintech news, analysis by experts

Payble banks $3.5 million investment

BankingBusinessFinTech

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Payble banks $3.5 million investment

January 2, 2024

Payble, a payments workflow, and customer engagement software provider, closed a $3.5 million funding round led by OIF Ventures.
The funding aims to capitalize on the strong demand for Payble’s citizen-centric payment solution in local government payments and explore global expansion opportunities.
Payble’s solution helps local governments boost on-time payments, reduce administrative burdens, and enhance community satisfaction.
Ratepayers can transition from larger annual or quarterly payments to flexible weekly or fortnightly payments without extra cost, simplifying payment adjustments without paperwork.
Founder Elliott Donazzan highlights the solution’s positive impact on community budget alignment, easing cost-of-living pressures, and addressing councils’ challenges.
60% of councils anticipate increased payment arrears, and 69% of council rates teams feel under-resourced. Payble offers a win-win solution.
OIF Ventures, with expertise in enterprise software and government growth, joins Payble, expressing excitement about the impressive CEO and the company’s positive outcomes for councils and ratepayers.
Payble Founder is thrilled about OIF Ventures’ involvement, citing their deep understanding of enterprise software and prior experience in government growth as a perfect fit.

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