Tilled

Tilled provides a PayFac-as-a-Service platform, empowering software companies to seamlessly integrate payment processing into their products. It provides a developer-friendly API and a white-label solution, simplifying payment facilitation requirements. This approach allows platforms to embed, monitor, and monetize merchant payments directly, capturing a significant share of transaction economics.

Caleb Avery founded Tilled in January 2019, leveraging his extensive payments industry experience. He recognized software companies needed both instant merchant onboarding and substantial payment revenue, a combination unmet by existing solutions without significant investment. Avery's vision was to bridge this gap, building a solution offering full payment facilitation benefits without traditional complexities.

Tilled primarily serves B2B Independent Software Vendors and SaaS platforms, transforming them into comprehensive embedded payment hubs. The company’s vision is to democratize payment facilitation, making it accessible and profitable for a wider array of software businesses. By simplifying payment integration, Tilled aims to empower partners to innovate, expand services, and enhance revenue potential.

High-Level Overview

Tilled is a Boulder, Colorado-based fintech startup founded in 2019 that provides PayFac-as-a-Service, an embedded payments platform enabling software companies, particularly independent software vendors (ISVs), to integrate and monetize payment processing without the regulatory compliance, costs, or liabilities of becoming a full payment facilitator.[1][2][4][5] It serves B2B software firms in sectors like retail and restaurants, solving the problem of complex payments integration by offering developer-friendly APIs, SDKs, transparent pricing, and white-label solutions that accelerate time-to-market, unlock revenue, and deliver seamless card-not-present and card-present (omnichannel) experiences across the US and Canada.[1][2][7][8] Tilled has raised nearly $40M in funding over five years, including a $12.5M round in October 2024 led by Canvas Ventures and UPC Capital Ventures, signaling strong growth momentum amid partnerships with firms like North and Handpoint.[1][5]

Origin Story

Tilled was founded in 2019 by Caleb Avery, its CEO, in Boulder, Colorado, with a mission to revolutionize payments by empowering ISVs to capture revenue from transactions flowing through their platforms.[1][5] Avery's background includes hands-on experience in merchant onboarding, from door-to-door sales to brick-and-mortar shops and managing token migrations for thousands of ISV customers, which informed Tilled's focus on simplifying embedded payments.[9] The idea emerged from recognizing the barriers software companies face in adopting payment facilitation—regulatory hurdles, high costs, and operational overhead—forcing many to forgo lucrative monetization opportunities.[2][4] Early traction built through pioneering PayFac-as-a-Service for card-not-present transactions, evolving to omnichannel support and international expansion via partnerships, culminating in significant funding and collaborations like the 2024 North partnership.[1][5][7]

Core Differentiators

• PayFac-as-a-Service Model: Turnkey solution with no upfront costs, headcount needs, or compliance burdens, allowing ISVs to launch white-label payments in weeks via easy-to-integrate APIs and SDKs.[1][4][8]
• Omnichannel Capabilities: Supports both card-not-present and card-present transactions (e.g., via Handpoint terminals) across US and Canada, maximizing revenue for retail/restaurant-focused software.[1][7]
• Transparency and Developer Focus: Public pricing page, customizable experiences, and delightful UX prioritized, with core values of fairness, partner success, and fun problem-solving.[2][8]
• Full-Service Support: Includes go-to-market assistance, instant human merchant onboarding/support, and partnerships (e.g., North for frictionless processing), treating partners' customers as their own.[5][9]

Role in the Broader Tech Landscape

Tilled rides the embedded payments trend, where software platforms increasingly integrate payments to boost revenue—projected to grow as ISVs in retail, restaurants, and beyond seek seamless monetization amid rising e-commerce and omnichannel demands.[2][7] Timing is ideal post-2024 funding and expansions, capitalizing on market forces like regulatory complexities deterring direct PayFac registration and demand for developer-friendly tools in a fragmented payments ecosystem.[1][4] By partnering with established players like North and Handpoint, Tilled influences the landscape by lowering barriers for ISVs, fostering innovation in North America, and setting standards for transparent, scalable embedded finance that benefits startups and incumbents alike.[1][5]

Quick Take & Future Outlook

Tilled is poised for accelerated expansion, leveraging its $12.5M raise to deepen global partnerships, enhance omnichannel features, and target more verticals beyond retail/restaurants.[1] Trends like AI-driven payments personalization and cross-border growth will shape its path, potentially positioning it as a leader in PayFac infrastructure amid rising embedded finance adoption. Its influence may evolve from pioneer to ecosystem enabler, empowering more software firms to own their payments stack—much like how it started by simplifying what once seemed impossibly complex for ISVs.[1][8]