Pay.com.au, an Australian business payments and rewards company that serves more than 30,000 businesses, has raised US$28 million in Series E funding to launch PayRewards, a platform that lets small businesses in the United States earn rewards on expenses paid by bank transfer or credit card. The round included existing and new investors and brings the company's total capital raised to US$70 million, following an A$25 million raise, about US$18 million, completed in November 2025.
Pay.com.au was founded in 2019 and built its business on a gap in how loyalty programs treat business spending. Consumers routinely earn points on card purchases, but many of the largest recurring expenses at small and midsize businesses, including commercial rent, utilities, taxes and supplier invoices, are paid through bank transfers or through systems that don't accept cards at all.
In Australia, the company's platform lets businesses pay suppliers, taxes, payroll and other expenses while earning points redeemable through a network of 16 global airline, hotel and card partners. Over the past 12 months, Pay.com.au processed more than A$10 billion in business expenses, about US$7 billion, doubling its volume year over year.
PayRewards applies that same structure to the US market. Businesses use the platform to pay by ACH bank transfer or credit card and earn PayRewards points on the transaction, including on the kinds of payments that generate no rewards under conventional card programs.
"PayRewards is an end-to-end platform making it simple to pay anyone, by card or bank transfer, and earn full credit card and PayRewards Points in return," US CEO Blake Hutchison said.
Businesses paying by credit card keep the rewards their existing card already generates while earning PayRewards points on the same transaction, a structure the company calls the "Double-Dip." Unlike bill-payment platforms built around a monthly subscription, PayRewards charges no platform fee; customers pay only when they choose to earn points on a given transaction. Points can be redeemed through airline and hotel loyalty programs, including for cabin and room upgrades, as well as for gift cards, employee incentives, custom requests and credits against future invoices processed through the platform.
Steve Shillington, a McDonald's franchisee and PayRewards customer, said the platform lets his business accumulate points on expenses it would be paying regardless.
PayRewards is now available to small businesses across most US states, with Hutchison leading the company's US operations.
