pay.com.au Revenue, Valuation, Funding & Investors

pay.com.au is valued at $519M as of April 2026.

Last pay.com.au valuation

$519M

Undisclosed stage · Apr 2026

Last pay.com.au funding round

$28M

Series E · Aug 2026

pay.com.au revenue

$52M

Secondary · Nov 2025

Key investors in pay.com.au

pay.com.au Overview

About pay.com.au

pay.com.au is a Sydney-based financial services platform that streamlines payments for Australian Taxation Office bills, rental properties, superannuation contributions, consultant fees, equipment purchases, and general business expenses. The service offers secure online processing with direct debit options and receipt generation. pay.com.au connects users to over 8,000 billers nationwide, facilitating BPAY and direct bank transfers for individuals and SMEs.


Founded

2019

HQ

AustraliaMelbourne

Website

pay.com.au

Status

Privately held

Customer focus

B2B & B2C

Revenue model

Commission

Revenue

$52M (Nov 2025)

Valuation

$519M (Apr 2026)

pay.com.au Valuation

pay.com.au is currently valued at $519M, based on its undisclosed-stage round in April 2026.

pay.com.au's valuation has grown 1.2x from $449M at its secondary sale in November 2025 to $519M in April 2026, across 3 priced rounds.

pay.com.au valuation by funding round

Revenue multiple
pay.com.au valuation by funding round
DateStageValuationRevenue Multiple
Apr 2026Undisclosed stage$519M-
Nov 2025Undisclosed stage$431M-
Nov 2025Secondary$449M8.6x

pay.com.au Revenue

pay.com.au's latest recorded revenue is $52M, as of its secondary sale in November 2025. At a $449M valuation, that implies a 8.6x revenue multiple.

pay.com.au revenue by funding round

pay.com.au revenue and valuation multiple by funding round
DateRevenue *ValuationRevenue MultipleStage
Nov 2025$52M$449M8.6xSecondary

* Revenue (or ARR) figures are the values recorded alongside each funding round. Typically run-rate revenue at the time of the deal, or a reported LTM (last 12 months) revenue.

pay.com.au Funding History

pay.com.au has raised a total of $58M across 3 funding rounds, plus 1 secondary share sale.

pay.com.au's first fundraising round was a $16M undisclosed-stage round in November 2025. The most recent completed round was a $28M Series E in August 2026.

pay.com.au funding rounds

pay.com.au funding rounds
DateStageInvestorsRaisedValuationDeal Summary
Aug 2026Series E-$28M-Pay.com.au raised US$28 million in a Series E round in August 2026 to launch its U.S. business as PayRewards, with the round privately funded by existing and new investors. The capital is being used to expand the company into the U.S. small-business payments and rewards market, where the platform is positioned to let businesses earn rewards points on payments including ACH and credit card transactions while paying no monthly platform fee and only paying when they choose to earn points. The raise lifted total capital raised by the company to US$70 million since its 2019 founding. Pay.com.au is an Australian B2B payments and rewards platform headquartered in Melbourne, and the company described itself as Australia’s largest business rewards platform at the time of the announcement. The U.S. launch under the PayRewards brand extends its existing model into a larger commercial payments market.
Apr 2026Undisclosed stage-$14M$519M-
Nov 2025Undisclosed stageMorgans Financial Limited (lead); WAM Global; Ophir High Conviction; Thorney Opportunities$16M$431Mpay.com.au is an Australian B2B payments and rewards platform launched in 2019 that enables businesses to earn and redeem points on everyday expenses through 16 global partners including Qantas, Singapore Airlines, Virgin Airlines, American Express, Visa, and Mastercard. The platform has processed over $10 billion in business expenses and serves around 50,000 businesses, focusing on SMEs with its PayRewards model offering uncapped rewards on previously unrewarded outgoings like payroll and tax payments. In November 2025, pay.com.au completed a $53 million capital event led by Morgans Corporate Limited, comprising $25 million in primary equity and $28 million in secondary sell-down, with participation from Wilson Asset Management (including WAM Global), Thorney Investment Group (Thorney Opportunities), and Ophir Asset Management (Ophir High Conviction). The raise was conducted at a pre-money equity valuation of AUD$633 million, more than doubling the prior valuation, to fund Australian expansion, US market entry with partners like Amex, product enhancements, technology investments, and hiring. Financial traction includes annualized gross revenue of AUD$246 million in the quarter ending September 2025 and FY2025 revenue of AUD$73 million, up from AUD$33.2 million in FY2024, alongside expanded losses of AUD$8.5 million due to growth investments. The company has established a US subsidiary with teams in Dallas and San Francisco and is considering an ASX listing.
Nov 2025Secondary-$18M$449MPay.com.au is an Australian B2B payments and rewards platform that enables businesses to earn rewards on everyday expenses through its PayRewards model, supporting around 50,000 businesses and processing over AUD$10 billion in expenses since 2019. The platform partners with 16 global entities including Qantas, American Express, Visa, and Mastercard. On November 24, 2025, it completed a AUD$53 million capital event led by Morgans Corporate Limited, comprising AUD$25 million in primary equity and AUD$28 million in secondary sell-down by early shareholders including Wilson Asset Management, Thorney Group, and Ophir. This valued the company at AUD$633 million pre-money, more than doubling its prior valuation. Financially, pay.com.au reported FY2025 revenue of AUD$73 million, up from AUD$33.2 million in FY2024, with annualized gross revenue reaching AUD$246 million in the September 2025 quarter. Losses grew to AUD$8.5 million amid investments in technology, hiring, and expansion. The funding bolsters its Australian SME market penetration and US entry, with teams in Dallas and San Francisco, and a potential ASX listing under consideration. Previous fundraising included AUD$5 million in 2023 and AUD$18 million in June 2025, supporting initial US groundwork. The latest round positions pay.com.au as one of Australia's highest-valued private tech firms, targeting growth in the underserved business rewards segment where fewer than 20% of 2.6 million businesses participate.

Who has invested in pay.com.au?

4 investors have backed pay.com.au across its funding rounds, including Thorney Opportunities, Ophir High Conviction, Morgans Financial Limited and WAM Global.

Lead investors include Morgans Financial Limited.


pay.com.au Investors

Investors in pay.com.au by funding rounds participated
InvestorHQRoundsRoleFirst check
WAM GlobalAustraliaSydney1ParticipantNov 2025
Morgans Financial LimitedAustraliaBrisbane1LeadNov 2025

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pay.com.au Competitors

pay.com.au competitors include listed companies like Hightech Payment Systems, PayPoint, Priority Technology Holdings and Lianlian DigiTech, and private ones like WeTravel and DgPays.

Public and private companies comparable to pay.com.au
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
Hightech Payment SystemsMoroccoMoroccoPublicly listed$156M$29M$496M3.2x
PayPointUnited KingdomUnited KingdomPublicly listed$453M$112M$495M2.1x
Priority Technology HoldingsUnited StatesUnited StatesPublicly listed$953M$200M$491M1.4x
Lianlian DigiTechChinaChinaPublicly listed$259M-$486M-
WeTravelUnited StatesSan Francisco, CAPrivate--$450M-
DgPaysTurkeyİstanbulPrivate--$600M-

pay.com.au Public Comps

pay.com.au is still privately-owned, but its public comps include Hightech Payment Systems, PayPoint, Priority Technology Holdings, Lianlian DigiTech, Boku, AvenuesAI, LINE Pay Taiwan, SZZT Electronics Co, Seshaasai and SLR Digital Finance.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
Hightech Payment Systems$156M$29M3.3x3.2x17.6x18.1x
PayPoint$453M$112M1.2x2.1x4.7x4.3x
Priority Technology Holdings$953M$200M1.5x1.4x7.1x6.2x
Lianlian DigiTech$259M-----
Boku$129M$25M2.2x2.1x11.1x7.1x
AvenuesAI$846M$39M0.6x-13.4x-
LINE Pay Taiwan$247M$24M----
SZZT Electronics Co$148M($7M)6.9x4.5x(143.3x)-

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Common questions about pay.com.au

When was pay.com.au founded?pay.com.au was founded in 2019.
Where is pay.com.au headquartered?pay.com.au is headquartered in Melbourne, Australia.
Is pay.com.au publicly listed?No, pay.com.au is a private, VC-backed company.
What is pay.com.au's valuation?pay.com.au was last valued at $519M in its undisclosed-stage round in April 2026.
How much funding has pay.com.au raised?pay.com.au has raised $58M across 3 funding rounds.
What was pay.com.au's last funding round?pay.com.au's last funding round was a $28M Series E in August 2026.
Who are pay.com.au's investors?pay.com.au's investors include WAM Global, Morgans Financial Limited, Ophir High Conviction and Thorney Opportunities.
What is pay.com.au's revenue?pay.com.au's latest recorded revenue is $52M (November 2025).
What is pay.com.au's revenue multiple?pay.com.au's latest valuation implies a 8.6x revenue multiple ($449M valuation on $52M of revenue).
Which companies are comparable to pay.com.au?Companies comparable to pay.com.au include Hightech Payment Systems, PayPoint, Priority Technology Holdings, Lianlian DigiTech, WeTravel and DgPays.

See companies similar to pay.com.au

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