Payable: Our Journey and New Beginnings with Stripe
What's next?
Back in 2022, Raz and I started Payable with a bold mission: to help companies track, move, and reconcile money globally. We set out to build something that hadn't been done before - taking on the complex challenges of Treasury Operations in Europe.
"You have to learn to quit a much-loved hand when new facts change the odds." Charlie Munger
We aimed to build a generational company, but by 2024 two realities surfaced:
Integration drag: the heavy engineering effort required to integrate with legacy banking and ERP systems, and a market largely satisfied with existing heavily subsidised solutions offered as add-on services
Saturated demand: the engineering investment versus customers' willingness to pay for a standalone product simply didn't match up
AI commoditisation: rapid advances in AI meant our software’s edge wouldn’t stay defensible for long; what felt novel before was edging toward table stakes.
The economics simply didn’t pencil out for a standalone product.
After careful consideration, we realised we had a rare opportunity to accelerate Payable’s mission by joining Stripe’s mission to increase the GDP of the internet. Stripe processed more than $1.4 trillion in total payment volume in 2024—about 1.3 % of global GDP.
I have sincere gratitude to everyone who played a role in Payable's journey – our design partners and customers who gave us a shot, our brilliant team, our supportive investors, and our partners. We couldn't have done it without you. Payable exists because of your trust and energy.
Raz and I are joining Stripe’s Money-as-a-Service (MaaS) team, where we’ll keep pushing the frontier of treasury operations—this time for millions of Stripe users.
Stay tuned for more detailed posts about our journey, including key lessons learned and insights from building Payable. Follow along here.