Payable is a San Francisco-based 1099 tax and contractor payments service that integrates with Stripe Connect to enable companies to send payments to independent contractors. The company uses Stripe Connect to power its contractor payments platform and has launched a new tax integration for Stripe Connect companies. Marketplace platforms using Stripe Connect can integrate their payments data with Payable’s 1099 tax service, which includes e-delivery and e-filing of forms. The tax service will be included for free as part of Stripe Connect. Payable was co-founded by Tad Milbourn, Peter Terrill and Kyle Kilat. The company raised a round of funding from General Catalyst Partners; the amount was not disclosed and Payable is the second addition to General Catalyst’s GC Stripe Platform Fund. Payable builds a payments and invoicing platform for contractor-based businesses and freelancers. Its core product includes an app for contractors to track and bill hours and a dashboard that lets businesses manage invoices and pay contractors from one place. The company operates a SaaS pricing model charging $8 per contractor per month, with a $25 monthly base fee for accounts that have more than five users. Payable helps contractors manage multiple employers and intends to add tax-filing capabilities once it secures IRS approvals. It has worked with customers including Serious Eats, NEAT Method and Pretty Instant, and targets small- to medium-sized businesses as well as 1099-heavy startups. The seven-person, San Francisco–based team includes Intuit veterans and recently raised $2.1M to further develop the product.

Total raised

$2M

Funding rounds

2

Latest round

Equity

Latest activity

Aug 2015