Pay.com.au Raises $28 Million to Launch PayRewards in the US

The company will use the new funding to launch its business in the US under the PayRewards brand.

The latest funding brings Pay.com.au’s total capital raised to US$70 million. The round included new and existing investors, but their names were not disclosed.

In the US, PayRewards will focus on small businesses. Its platform will let businesses earn rewards on expenses paid through bank transfers or credit cards.

“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,” PayRewards US CEO Blake Hutchison said.

Founded in 2019 by Damien Waller, Edward Alder and Grant Austin, Pay.com.au helps Australian businesses earn rewards when they pay for business expenses.

These expenses can include supplier bills, taxes and employee payroll.

As the company expands into the US, it will target small businesses and help them earn rewards on expenses such as office rent, utility bills and taxes, which often cannot be paid directly with a credit card.

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