PayIt, LLC.

PayIt, LLC. is a digital government platform that enhances transactions between government entities and residents, streamlining services like payment processing and customer engagement to improve operational efficiency. Founded in 2013 in Kansas City, US, PayIt, LLC. specializes in digital government services, enabling various local and state governments to manage transactions efficiently.

The company was co-founded by John Thomson and Michael Plunkett. In August 2022, PayIt raised USD 90. 00 mn in a GROWTH funding round led by Macquarie Capital, bringing the total amount raised to USD 90. 00 mn.

The company has completed a total of 9 deals to date. PayIt offers a comprehensive digital government platform designed to streamline transactions between government agencies and residents. The platform integrates various services such as payment processing, transaction management, and customer engagement tools, which enhance the efficiency of government operations. By enabling local, state, and provincial governments to manage multiple services—including utilities, property taxes, motor vehicle registrations, and citations—PayIt facilitates a seamless digital experience for residents.

The platform emphasizes self-service capabilities, allowing users to easily handle transactions, view action items, and access their transaction history through a single account. PayIt services a wide geographic market across North America, catering to over 100 million residents in various governmental jurisdictions. PayIt generates revenue primarily through transaction fees associated with its digital government services. Each time a resident processes a payment—be it for property taxes, utility bills, or fines—a fee is incurred, forming a steady stream of income for the company.

Additionally, PayIt may engage in subscription-based partnerships with government entities, providing ongoing access to its platform and support services. While specific pricing structures are not disclosed, the revenue model is built around facilitating a high volume of digital transactions, with significant cost savings for governments in terms of payment processing and administrative efficiencies. The firm’s commitment to transparency and security is further underscored by its PCI Level 1 and SOC 2 Type 2 certifications, ensuring that all transactions are conducted in a secure environment. In August 2022, PayIt, LLC.

raised USD 90. 00 mn in growth funding led by Macquarie Capital. The company intends to utilize this funding to further develop its growth and product features. Specific upcoming products have not been detailed, but the funding will support initiatives aimed at enhancing their digital platform.

PayIt is also focused on expanding its market presence, targeting new geographic regions across North America to increase service adoption among government entities.