pay.com.au, the end-to-end payments and rewards platform, today announced it has successfully attracted AUD$53 million in its latest capital raise round, propelling the company’s strategic growth and international expansion plans. 

The raise was led by Morgans Corporate Limited and comprises $25 million in new capital and $28 million in secondary sell-down. The new capital will fuel strategic growth, driving local expansion alongside an international push into the US market with key partners like Amex. The funding will also be used to further enhance the company's core payments and rewards offering, which recorded an annualised gross revenue of $246 million in the quarter ending September 2025.

The newly secured capital is raised at a pre-money equity valuation of approximately AUD$633 million - more than doubling the company’s valuation in just a year. This milestone solidifies pay.com.au's position as one of the largest business loyalty ecosystems in Australia and validates its proven business model and impressive growth trajectory. 

“We’ve built a service that genuinely changes the game for business owners. In a market where fewer than 20 per cent of the 2.6 million businesses engage with rewards programs, we offer something real. A simple, practical way for businesses to get more value back from the expenses they already pay. As we refine our core product, grow our footprint and build stronger strategic partnerships, we are continuing to shape a strong business loyalty ecosystem for the Australian SME community,” said Edward Alder, Managing Director at pay.com.au

Since accepting its first payment in 2019, the company has processed over $10 billion in business expenses, earning PayRewards and empowering Australian business owners to unlock rewards from expenses they once couldn’t. The capital raise reflects strong investor confidence in pay.com.au's proven ability to capture a substantial share of the Australian payments market and its disruptive proprietary rewards model.

“From the beginning, we saw immense potential in pay.com.au’s vision and the  exceptional value proposition PayRewards brings for SMEs. Their disruptive model offers uncapped rewards on previously unrewarded expenses, like payroll and tax payments is truly unique, giving them a powerful competitive advantage. We are thrilled to back the team as they turbocharge their international scale and cement their position as a global leader in business loyalty payments,” said Sam Koch, Senior Investment Analyst at Wilson Asset Management.

The platform, which is highly scalable and secure with end-to-end data encryption, allows customers to earn and redeem points through a rapidly expanding network of 16 global partners, including Qantas, Singapore Airlines, Virgin Airlines, American Express, Visa and Mastercard. This extensive and growing ecosystem underscores pay.com.au's commitment to continuously unlock new value for its users in Australia and beyond.