Commonwealth Bank’s x15ventures invests $1 million in Payble

Payble is a better way for businesses to get paid, and an easier way for consumers to pay their bills

On Monday 12 April 2021, we announced that the Commonwealth Bank’s venture-scaling entity, x15ventures, has invested $1 million in Payble, to acquire a minority ownership stake. It was a big day for us here at Payble and we are thrilled to have x15ventures join us on our journey. We’d like to say thank you to the entire x15ventures team and the team at the Commonwealth Bank. We look forward to what’s to come.

Commenting on the announcement, CEO and Founder of Payble, Elliott Donazzan, said:

“Over 500 million bills are sent to Australian consumers every year, and over 75 million of those aren’t paid on time. This is a huge problem for Aussie businesses who spend time and money following up on late payments, fielding calls from customers about their billing details or retrying payments when they fail.”

“Payble sets out to fix failed or late payments before they happen and we are thrilled to have x15ventures join us on this journey. I’d like to thank the x15ventures team for their support to date and look forward to working together as we accelerate our go-to-market strategy.”

Toby Norton-Smith, Managing Director, x15ventures, said:

“We’re thrilled to welcome Payble into the x15ventures family. Working closely with the startup community is key to our strategy to build, invest and acquire digital businesses that are reshaping banking and benefiting Australian businesses and consumers.”

If you’d like to read more you can see the full announcement here. Or read the article from James Eyers, Senior Reporter at the AFR here.

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