Exclusive: Payabli raises $28M to scale embedded payments
Why it matters: Payments are becoming a core strategy for software vendors and SaaS platforms to unlock new revenue streams and deepen customer relationships.
How it works: Payabli provides vertical software companies with an embedded platform that combines payment acceptance, payment issuance, and payment operations under a single API.
This lets software vendors and vertical SaaS providers offer branded payment solutions without managing multiple third-party providers.
"We remain laser-focused on our mission of making all software companies payment companies," co-founder William Corbera says. "And on unifying pay-in, pay-out and pay-ops through a single, unified API."
What they're saying: "Vertical-SaaS platforms used to see payments purely as a cost center, but Payabli makes it so easy to embed and monetize that it's a no-brainer," Fika Ventures general partner TX Zhuo says.
By the numbers: Payabli has grown nearly 8x since its Series A, processing billions annually and supporting over 50,000 merchants, Phillips says.
He expects the company to support over 100,000 merchants by year's end.
Between the lines: Insiders QED and Fika decided to double down on the company less than a year after it raised its Series A round.
"We didn't need the money ... but our investors came to us. They see Payabli as a multiple-billion-dollar company and wanted to accelerate our growth," co-founder Joseph Elias Phillips says.
Zhuo notes that the Series B round was the largest check Fika has written to date.
"The team is building the go-to platform for software companies looking to embed payments, and we wanted to ensure they had capital to accelerate," QED partner Laura Bock said in an email.
The latest: With the new funding, the company is betting big on AI, which it uses for risk management, fraud detection, customer support, and platform integration.
It recently introduced an AI-powered support agent, Amigo, that is trained on extensive customer and platform data.
"We've been investing heavily in AI — from Amigo on the support side to risk-and-fraud models across the platform — to keep the infrastructure reliable as we scale," Phillips says.
Zoom in: The funding brings Payabli's total raised to $60 million, just nine months after its Series A.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Newsweek
21 minutes ago
- Newsweek
Bojangles Announces Opening Plans for New York, New Jersey
Based on facts, either observed and verified firsthand by the reporter, or reported and verified from knowledgeable sources. Newsweek AI is in beta. Translations may contain inaccuracies—please refer to the original content. Bojangles, the North Carolina-based fast food chain known for its fried chicken and buttermilk biscuits, has unveiled plans to expand its East Coast restaurants. On Wednesday, Bojangles announced the signing of a 20-unit franchise agreement for New York City, adding that construction had begun on a first location in Brooklyn. In addition, plans are in place for more than 50 total locations across the New York metropolitan area over the next 10 years, including 35 units in New Jersey, as part of a major expansion of the Cajun-style restaurant chain. Newsweek has contacted Bojangles via email for further comment on the plans. Why It Matters Bojangles boasts more than 800 restaurants across several U.S. states. The announced expansion represents a strategic push into one of the largest, densest urban American markets and follows the chain's broader growth trend beyond its Southeastern base, where it has operated since 1977. What To Know According to Wednesday's announcement, Bojangles' 20-unit agreement for New York City has been spearheaded by Habib Hashimi and Hashimi Holding Corporation. In its news release, the company described Hashimi as an "experienced restaurant owner and operator" and "a natural fit to lead the brand's emergence into the New York market." According to Hashimi's LinkedIn page, he previously operated Dairy Queen and Popeyes locations. Construction is already underway on the first site, slated to open in East Flatbush, Brooklyn, this winter. A Bojangles restaurant in Charlotte, North Carolina, on June 19, 2022. A Bojangles restaurant in Charlotte, North Carolina, on June 19, 2022. Getty Images "As Bojangles enters New York City, the real estate opportunity, from high foot traffic to dense urban neighborhoods, is ideal for introducing the brand's Southern flavors to an entirely new audience," the company said. "That's great NYC is in for some seriously good chicken and biscuits," one X user wrote in response to an article about the announcement. The news marks Bojangles' return to New York City, where it had a short-lived presence in the early 1980s. The company also said the 35-restaurant development agreement signed for New Jersey underscored "Bojangles' larger mission to grow in key metropolitan markets." What People Are Saying Habib Hashimi of Hashimi Holding Corporation said in a news release: "Bojangles has always stood out to me—from its delicious chicken, biscuits and breakfast to its incredible franchisee support system. I couldn't be more proud to lead Bojangles' growth in New York City. Our team has extensive experience running quick-service concepts across New York and Connecticut, and I'm confident residents will fall in love with the Southern flavors, hospitality and convenience Bojangles has to offer." Bojangles CEO Jose Armario said in the news release: "It's a monumental moment, now that we're entering the New York Metropolitan area again. The East Coast is craving the authentic, Southern charm that Bojangles delivers, and we're excited to introduce locals to something new. The franchise groups behind this expansion are the exact partners we want to grow with—they bring the industry know-how, operational experience and leadership needed to grow Bojangles in a bustling market like New York." What Happens Next Bojangles has a number of similar development agreements in the pipeline, which Restaurant Dive calculated in 2023 could eventually push its total store count to over 1,000.
Newsweek
24 minutes ago
- Newsweek
Construction Soars Up on World's Tallest Building: 'Unprecedented Heights'
Based on facts, either observed and verified firsthand by the reporter, or reported and verified from knowledgeable sources. Newsweek AI is in beta. Translations may contain inaccuracies—please refer to the original content. The world's tallest building—the Jeddah Tower in Saudi Arabia—is expected to be completed by August 2028, with construction having been "ramped up," the architectural firm behind it told Newsweek. Designed by American architect Adrian Smith, who cofounded the Chicago-based firm Adrian Smith + Gordon Gill Architecture (AS+GG), the Jeddah Tower will reach "unprecedented heights," its developers describe. Soaring at over 3,280 feet high, upon completion it will surpass the current world's tallest building, the Burj Khalifa in Dubai, which was also designed by Smith. Located in the northern part of Obhur, a bay located just north of the city of Jeddah, the new skyscraper will be at least 568 feet taller than the Burj Khalifa and form the centerpiece of the $20 billion Jeddah Economic City development, formerly known as the Kingdom City. A view of the Jeddah Tower under construction in July 2025 (left); a rendering of the exterior of the tower (right). A view of the Jeddah Tower under construction in July 2025 (left); a rendering of the exterior of the tower (right). Adrian Smith + Gordon Gill Architecture AS+GG, Sharing an image of the tower under construction captured by architect Robert Forest, a partner at AS+GG, during a site visit in July, a spokesperson for the firm told Newsweek, "The construction schedule reflects August of 2028 completion," adding that "the tower has been constructed to Core Level 69, which will be reached this week." "The wings follow about five to 10 floors behind," the firm said, adding that "50 percent of the concrete has been placed." The mixed-use building will feature a luxury hotel, office space, apartments and condominiums, as well as a sky terrace at its 157th level, which will be the world's highest observatory. Forest told Newsweek: "Construction activities have ramped up, and the atmosphere on site is robust. The entire team is committed and focused on realizing this iconic structure for the Kingdom of Saudi Arabia." A rendering of showing the tip of the Jeddah Tower. A rendering of showing the tip of the Jeddah Tower. Adrian Smith + Gordon Gill Architecture AS+GG, The design of the tower was inspired by a "vision to establish a striking form while keeping the structure simple," architect Gordon Gill, a partner at AS+GG, told Newsweek. "As it developed, the overall ethos of 'new growth' for KSA [Kingdom of Saudi Arabia] was defined by the symbolic palm fronds. Today, the building is very consistent with the palm-frond concept." Its exterior design "evokes a bundle of leaves shooting up from the ground—a burst of new life," while the tower's sleek, streamlined form references "the folded fronds of young desert plant growth," the firm describes on its website. The building's "high-performance exterior wall system" aims to minimize energy consumption by reducing thermal loads. The tower's three sides will have a series of notches that create pockets of shadow to shield parts of the building from the sun and provide outdoor terraces with views of Jeddah and the Red Sea, the firm adds. Renderings of the base of the Jeddah Tower (left) and its observation desk (right). Renderings of the base of the Jeddah Tower (left) and its observation desk (right). Adrian Smith + Gordon Gill Architecture AS+GG, The tower will also feature "one of the world's most-sophisticated elevator systems," consisting of 59 elevators, including 54 single-deck and five double-deck elevators, along with 12 escalators. "Elevators serving the observatory will travel at a rate of 10 meters [33 feet] per second in both directions," the firm says. Construction of this new supertall skyscraper, which refers to buildings that are 300 meters (around 984 feet) or higher, first began around 2013 before it was plagued by delays and halted for years due to the onset of the COVID-19 pandemic. Construction officially began again in January this year. Gill said: "No changes have occurred since the restart. The masterplan is proceeding, and the development of a new bridge over the creek will link the project directly to the Jeddah city core." While the firm told Newsweek that the estimated current total cost of the Jeddah Tower is "confidential," the tower is expected to cost $1.2 billion to construct, according to the firm's website. A view of the base of the Jeddah Tower, located in the northern part of Obhur, a bay located just north of the city of Jeddah. A view of the base of the Jeddah Tower, located in the northern part of Obhur, a bay located just north of the city of Jeddah. Adrian Smith + Gordon Gill Architecture AS+GG, Do you have an architecture, design or travel-related story to share? Let us know via life@ and your story could be featured on Newsweek.
CNBC
24 minutes ago
- CNBC
Ulta and Target will end deal for in-store beauty shops next year
Ulta Beauty and Target said Thursday that they have decided to end a deal that opened makeup and beauty shops in hundreds of Target's stores. Shares of Target fell about 2% in early trading, while Ulta's stock slid about 1%. In a news release, the companies said the partnership — which also added some of Ulta's merchandise to Target's website — will end in August 2026. Target had added more than 600 Ulta Beauty shops to its stores, according to a company spokesperson. That's nearly a third of Target's 1,981 U.S. stores. The loss of the popular beauty retailer's products could be another blow to Target as it tries to woo back both shoppers and investors. Target's annual sales have been roughly flat for four years and it expects sales to decline this fiscal year. Shares of the company are worth less than half of what the were back in 2021, when they hit an all-time closing high of $266.39. On earnings calls and in investor presentations, leaders of the Minneapolis-based company had touted Ulta's shops and its trendy beauty brands as a way to drive store traffic. At a investor presentation in New York City in March, CEO Brian Cornell highlighted beauty as a growth category for Target and cited it as reason for confidence in Target's long-term business. He said the company gained market share in the beauty and its sales in the category rose by nearly 7% in the fiscal year that ended in early February. In a statement on Thursday, Target Chief Commercial Officer Rick Gomez said the discounter is "proud of our shared success with Ulta Beauty and the experience we've delivered together." "We look forward to what's ahead and remain committed to offering the beauty experience consumers have come to expect from Target – one centered on an exciting mix of beauty brands with continuous newness, all at an unbeatable value," he said. In a statement, Ulta's Chief Retail Officer Amiee Bayer-Thomas described the Target deal as "one of many unique ways we have brought the power of beauty to guests nationwide." "As we continue to execute our Ulta Beauty Unleashed plans, we're confident our wide-ranging assortment, expert services and inspiring in-store experiences will reinforce our leadership in beauty and define the next chapter of our brand," she said.
