# Payble

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/payble-pty

- Industry: Financial Services
- Headquarters: Chippendale, Australia
- Website: www.payble.com.au
- Total disclosed funding: $2.1M
- Latest round: Seed (Nov 20, 2023)
- Investors on record: 3

## About

Based in Australia, Payble Pty Ltd is a financial technology company that specializes in providing a payment experience platform for local governments, enhancing payment processes and financial management for councils.Founded in 2020 in Chippendale, Australia, Payble Pty Ltd focuses on creating efficient payment solutions for local governments. The firm has adapted its strategy to cater specifically to the needs of councils in managing financial processes. Elliott Donazzan, the founder, has a history in developing technology solutions for various sectors. With a total of 4 deals, the company raised AUD 3.137 mn in a SEED funding round led by OIF Ventures on November 20, 2023, bringing the total amount raised to AUD 3.137 mn and the current company valuation to AUD 11.118 mn.Payble offers a sophisticated payment experience platform designed specifically for local governments, enabling councils to tailor their payment processes to enhance cash flow, boost productivity, and reduce costs. The platform supports a variety of payment methods, including direct debit and credit or debit card transactions, allowing ratepayers the flexibility to choose their preferred payment frequency—weekly, fortnightly, or monthly. Payble’s core aim is to streamline rates collection, providing councils with the tools needed to recover unpaid rates and manage arrears effectively. Their client base prominently includes councils in Australia, particularly in New South Wales and Victoria, where they help combat rising arrears and improve overall customer satisfaction, evidenced by an impressive average score of 4.8/5 from users. The platform has been operational since its inception, adapting to the evolving needs of local authorities facing challenges in rate collection and financial management.Payble generates revenue through its payment experience platform, which operates on a subscription model tailored for local government clients. The company engages directly with councils, offering its services to improve their financial processes and enhance ratepayer engagement. The revenue structure is based on service subscriptions that provide access to the platform's features, enabling councils to manage transactions efficiently and reduce dependency on costly alternatives such as AusPost and BPAY, which can incur significant fees. Payble's flagship service, Authority Payments powered by Payble, specifically targets the needs of Australian councils, focusing on optimizing payment processes and facilitating better financial outcomes. The transactional relationship between Payble and its clients is centered on fostering improved cash flow and operational efficiency, ultimately benefiting the end-users—ratepayers—through better service delivery.In November 2023, Payble Pty Ltd raised AUD 3.13 million in SEED funding, led by OIF Ventures with participation from Identitii Limited and other individual investors. The company plans to use this funding to investigate prospects for international growth while maintaining and expanding its footprint in local government payments. Specific new products are in the development phase to enhance their service offerings, which will be rolled out as market conditions permit. The strategic focus on both domestic and international markets aims to further address the evolving needs of local governments.

## Funding rounds

- Seed, Nov 20, 2023, $2M — OIF Ventures, Identitii Limited
- Seed, Dec 1, 2020, $0.1M — x15ventures

## Investors

- x15ventures (https://capitalatlas.ai/funds/x15ventures) — Seed
- OIF Ventures (https://capitalatlas.ai/funds/oif-ventures) — Seed
- Identitii Limited — Seed