Sydney-based startup Payble, specializing in simplifying payment solutions for councils and residents, has successfully raised $3.5 million in a funding round led by OIF Ventures. This adds to the existing capital injections from Commonwealth Bank’s x15ventures, bringing Payble’s total seed funding to $6 million. The company’s payments workflow and customer engagement software act as a “gateway” for ratepayers, offering more convenient, automated payments via QR codes on council rates notices.
Founded in 2020, Payble has over a dozen councils using its services, targeting a market of 537 councils across Australia. The platform enables flexible payment options, helping local governments increase on-time payments and reduce administrative burdens associated with billing. Payble’s founder and CEO, Elliott Donazzan, notes that the solution addresses the increasing cost-of-living pressures on households, with councils expressing a need for flexible, self-service payment experiences.
OIF Ventures investor Oliver Darwin commends Payble’s founder for consistently executing milestones and understanding customer challenges. Donazzan anticipates global expansion toward the end of 2024 and expresses excitement about partnering with OIF Ventures for the journey ahead.