Fifth Third leads strategic investment in Payload

Payload has secured a strategic investment led by Fifth Third to expand its embedded payments platform. Founded in late 2019, the company reported processing nearly $500 million in May alone.

Payload has established itself as a leading processor of earnest money deposits for the residential real estate markets in the United States and Canada. Its platform is also utilized by professional services, property management, homebuilding, franchises, and legal payments sectors.

The company intends to use the new capital to expand its engineering and go-to-market teams, accelerate the rollout of new payment rail integrations, and increase its reach across various software ecosystems and industry verticals.