How much capital did Pay.com.au secure in its latest Series E funding round?

Pay.com.au raised US$28 million in Series E funding from an unnamed group of new and existing investors. This latest round takes the total capital raised by Pay.com.au to US$70 million following a $25 million Australian raise completed in November 2025.

Why is Pay.com.au expanding into the US market?

Pay.com.au is expanding into the US under the PayRewards brand to target the small-business expense market. The platform allows companies to earn reward points on commercial expenses such as rent, utilities, and taxes that typically cannot be paid directly by credit card.

What volume of transactions did Pay.com.au (Unlisted: Pay.com.au) process over the past 12 months?

Pay.com.au stated that its Australian platform processed over $10 billion in business expenses over the past 12 months across more than 30,000 businesses. This performance represents 100% year-on-year transaction growth for Pay.com.au.

How does the PayRewards platform offered by Pay.com.au (Unlisted: Pay.com.au) generate rewards for businesses?

Pay.com.au operates a model where businesses can pay suppliers or taxes via credit card or bank transfer to earn rewards points without paying a monthly platform fee. The platform layers its own PayRewards points on top of existing credit card points, which Pay.com.au terms a "Double-Dip" feature.

How did the market react to the announcement from Pay.com.au?

Following the capital raise announcement, the equity valuation and share price of Pay.com.au remained unchanged because the company is privately held. Pay.com.au has not publicly listed its shares on any public stock exchange.

Financial

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Pay.com.au raises US$28M for US expansion

Written by Jon CuthbertPublished Aug 25, 2026, 2:59 AM

Pay.com.au raised US$28 million in Series E funding to launch its platform in the US.
The round brings total capital raised to US$28 million following US$10 billion in Australian transactions processed over the past year.
The funding will support the launch of PayRewards in the US to target small-business expense payments.

Pay.com.au raised US$28 million in Series E capital to expand its payment services into the US market.

The funding round follows a $25 million Australian capital raise completed in November 2025 and 100% year-on-year transaction growth.

"PayRewards is an end-to-end platform making it simple to pay anyone, by card or bank transfer, and earn full credit card and PayRewards Points in return,” said PayRewards US CEO Blake Hutchison.

The business stated that the new capital takes total funding to US$70 million from an unnamed group of new and existing investors.

Following the announcement, the Pay.com.au share price was unchanged as the company remains privately held.

Founded in 2019, the platform allows companies to process supplier invoices, tax payments, and payroll while earning commercial reward points.

The planned expansion targets US commercial rent, utility, and tax payments that typically cannot be processed using direct credit card options.