PayEm is an enterprise integrated spend management and procurement platform that automates the entire Request to Reconciliation process for finance and procurement teams in the mid-market. The platform offers smart procurement solutions, AP automation, expense reimbursement and smart credit cards. PayEm supports customers around the world from offices in San Francisco and Tel Aviv. The company plans to use the new capital to accelerate its growth. Since its launch in January 2020, PayEm has raised $247M in credit and equity, including the latest financing. The business is led by CEO Itamar Jobani and has added senior hires including a CRO, CFO, and VP Product. Founded in 2019 by Itamar Jobani and Omer Rimoch, PayEm builds a platform that automates reimbursement, procurement, accounts payable and corporate-card workflows, providing real-time visibility and continuous reconciliation. The product supports customized approval flows, purchasing codes, creates bills and sends payments to over 200 territories in 130 currencies. PayEm reported accelerated growth in Q2 2021, increasing transaction volume fourfold versus the prior quarter and generating millions in revenue, and it serves hundreds of customers including Fiverr, JFrog and Next Insurance. The company currently has about 40 employees and an office in New York. Proceeds from the recent raise will be used to triple headcount, focus hiring in the United States, and launch additional features and payment capabilities.

Total raised

$247M

Funding rounds

4

Latest round

Equity

Latest activity

Jan 2023