PayRewards Raises $28M Series E

PayRewards, a New York-based rewards-first platform for small business, has raised $28 million in Series E funding to launch its services in the United States. This latest round brings the company's total capital raised to $70 million, following its expansion from the Australian parent company, Pay.com.au.

Investors

The funding round was provided by a group of existing and new investors.

PayRewards Use of Funds

The company plans to use the new capital to facilitate its official launch in the U.S. market, enabling American small businesses to earn rewards points on commercial payments such as rent, supplier invoices, and utility bills paid via ACH or credit card.

About PayRewards

PayRewards is the U.S. arm of the Australian rewards-first platform Pay.com.au. Founded in 2019, the company provides a payment ecosystem that allows businesses to earn rewards on transactions that typically go unrewarded, such as bank transfers and tax payments, which can then be redeemed for airline points, hotel stays, and other corporate incentives.

Funding Details

Company Website: https://payrewards.com

Company: PayRewards
Raised: $28M
Round: Series E
Funding Date: August 24, 2026
Company Website: https://payrewards.com
Software Category: Fintech
Source: https://www.prnewswire.com/news-releases/paycomau-australias-largest-business-rewards-platform-raises-us28m-to-launch-in-the-us-as-payrewards-302857628.html