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Payable raises $6.1m to modernise business payments

Payable raises $6.1m to modernise business payments

Payable, a payments operations platform for businesses, has raised $6.1 million in a funding round led by CRV and Earlybird.

Founded by Checkout.com vets Daniel Yubi and Razvan Musca, Payable has built a platform that lets firms connect their banks and automate payments from initiation to reconciliation with a single API and dashboard.

Writes Yubi in a blog: "For a healthy economy money needs to move efficiently between companies. Yet still in 2022 human intervention is required to download bank statements, reconcile payments, and initiate bank transfers. That's insane!"

He adds: "Our goal is for Payable to be the software that enables companies to bring their own corporate bank accounts, wallet provider or financial data source, so they can have one tool for initiating, tracking and reconciling payments."

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