Pay.com.au raises US$28M to launch rewards platform in the US as PayRewards

What's the deal? Pay.com.au, Australia's largest payments and rewards platform, has raised US$28 million in a Series E round to launch a US arm called PayRewardsDealroom has a profile for this one. Try Dealroom →. The round was privately funded by existing and new investors, bringing total capital raised to US$70 million.

What does it do? PayRewards lets US small businesses earn points on payments that usually go unrewarded — commercial rent, supplier invoices, and other bills paid by ACH bank transfer or card. Points can be redeemed across airline and hotel loyalty programs, gift cards, employee incentives, or credit against future invoices.

How it works: The platform charges no monthly fee; a business pays only when it chooses to earn points. Because PayRewards layers its own points on top of a business's existing card rewards, it can double the rewards on the same dollar — a feature it calls the Double-Dip.

Why now? The launch follows a November 2025 raise of A$25 million (about US$18 million). Parent Pay.com.au processed more than US$7 billion in business expenses over the past 12 months for 30,000-plus businesses, marking 100% year-on-year growth.

The gap: PayRewards targets US businesses that move trillions through accounts payable yearly but earn nothing on most of it, since payments like rent, utilities, and taxes often fall outside credit card rewards. "It's the best rewards program we've used across our business, and we're earning points on expenses we'd be paying anyway," said Steve Shillington, a McDonaldDealroom has a profile for this one. Try Dealroom →'s franchisee and customer.

What's the endgame? The US company is led by chief executive officer Blake Hutchison, who framed it as an end-to-end platform to "pay anyone, by card or bank transfer, and earn full credit card and PayRewards Points in return." PayRewards is available to small businesses in most US states, though not yet in Connecticut, Hawaii, New Mexico, South Dakota, Washington, DC, and West Virginia.

The signal: The US$28 million round sits in the top third of deals by size, a notable cheque as rewards-driven spending moves from consumers into the underserved business payments market.

Image credit: Generated with Gemini