Payable: Our Journey and New Beginnings
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.
Our goal was to build a generational company, so we aimed as high as possible. Charlie Munger once said, "You have to learn to quit a much-loved hand when new facts change the odds." After careful consideration and analysis, we realised our thesis of building a massive company couldn't be true due to two realities: 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. The engineering investment versus customers' willingness to pay for a standalone product simply didn't match up.
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.
In this next exciting chapter, Raz and I will join Stripe's Money Movement and Storage (MMS) team. We're thrilled to continue our mission of helping businesses operate and grow worldwide without the complexities of moving money, now as part of Stripe's world-class team.
Stay tuned for more detailed posts about our journey, including key lessons learned and insights from building Payable. Follow along here.