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15 November 2021 – Identitii Limited (ASX:ID8) (‘Identitii’, ‘the Company’) is pleased to announce that
the Commonwealth Bank’s venture scaling entity, CBA New Digital Businesses Pty Ltd (x15ventures), is
investing a further $0.7 million in Identitii subsidiary, Payble Pty Ltd (Payble), taking up the right to
follow its initial investment. The new funding follows Payble’s early success in the energy retail sector,
having completed a commercial trial and subsequently signing its first customer in 2021.
Payble will leverage open banking technology to make missed or late payments a thing of the past and
to help consumers better manage recurring payments to avoid the debt cycle. Initially targeting the
energy sector, Payble is pursuing a rapid growth strategy aimed at identifying key industries where
late or missed payments present challenges for companies and consumers alike. It is also currently
pursuing Consumer Data Right (CDR) accreditation with the ACCC, following Identitii’s participation in
the ACCC’s CDR testing program in 2019.
Commenting on the announcement, John Rayment, CEO, Identitii, said: “Payble’s early success is a
great credit to Managing Director Elliott Donazzan and his growing team of payments experts and we
are thrilled their efforts have been recognised by x15ventures as they follow on their initial
investment. Payble is creating a two-sided marketplace, using technology to solve a significant
problem for both consumers and businesses alike, an operating model that has accelerated new
industries like Buy Now Pay Later. The future is very bright for Payble and we’re excited to be along for
the ride.”
Commenting on the investment, Elliott Donazzan, Managing Director and Co-Founder, Payble says
“We began our journey with x15ventures last year and are thrilled they have chosen to follow that
initial investment today. We are rapidly accelerating our commercialisation and go-to-market strategy,
having successfully completed a commercial trial and signed our first customer in the energy markets
this year, and we are incredibly grateful to Toby and the x15 team for their ongoing support. We look
forward to what promises to be an exciting year ahead.”