Melbourne-based bill payment AI company Gobbill has kicked off a $2 million early-stage fund raise, receiving expressions of interest for half the round with a number of its users showing interest in investing.
The company, which recently signed a deal with ASX-listed iSignthis for payment processing, has seen payment volumes jump 375 per cent last quarter compared to the same time last year.
“Our system users and people we know have asked us over the last three years for an opportunity to invest before we grow too big,” CEO and co-founder Shendon Ewans said.
“And secondly we have just signed key partnerships with iSignthis and myprosperity that will accelerate our business growth, meaning we require the additional capital to run the business faster.”
Founded in 2015, Gobbill protects users from online scams and late fees by scheduling and automating bill and invoice payments. It also helps them maximise discounts and secures their credit-rating scores; and allows small businesses to have the additional benefit of invoice digitisation, scheduled payments and synchronising data with their accounting software.
Gobbill pays bills issued from any Australian provider, including utilities, telecoms, council rates and insurance.
It currently operates predominantly across Australia’s east coast but in the next 12 months plans to launch in the UK.