Rapidly scaling PayIt raises another $90M amid ‘long-overdue transformation’ of govtech
August 4, 2022 | Startland News Staff
Growth and continued innovation are on the docket as Kansas City-filed PayIt closes a $90 million funding round.
Led by the global firm Macquarie Capital Principal Finance, the capital injection is expected to keep fueling PayIt’s commitment to simplify the way people interact with the public sector in everyday places like the DMV and court system.
“We are delighted to welcome Macquarie to the PayIt team,” John Thomson, founder and CEO, said in a release.
“We have exciting plans to further empower governments to deliver consumer-grade digital interactions everywhere, and Macquarie Capital’s investment and know-how will serve as a force multiplier in our achievement of that vision.”
The investment round brings PayIt — one of Kansas City’s top venture capital-backed companies — to more than $230 million in total funding raised to date. It comes in pace with rapid scale, the company said, noting the recent release of its next-generation platform architecture and a fully loaded backend dashboard that allows for deeper management and insights.
In recent months, PayIt has also welcomed new leaders to its executive team. Jean Nobile was recently named senior vice president of operations while Kelly Davis-Felner stepped into the role of chief marketing officer.
“PayIt is at the forefront of Citizen-Centric Governance. Their technology delivers much needed services more cheaply, quickly and with greater public satisfaction than ever before,” said Larry Handen, senior managing director at Macquarie Capital.
“The PayIt team and their customers are impressive and committed. We look forward to supporting their mission,” he continued.
Both Handen and Jared Doskow, fellow senior managing director at Macquarie Capital, will join PayIt’s board of directors, serving alongside investors from Insight Partners and Weatherford Capital.
Accolades from Kansas City Mayor Quinton Lucas followed an announcement of the funding round and offered further encouragement and support of the company’s goals.
“PayIt is powering a long-overdue transformation in the way government agencies and residents interact,” Lucas said. “I congratulate the team at PayIt on this important milestone in their growth, and look forward to seeing them continue to deliver on their vision of bringing people and government closer together.”
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