Payall builds the infrastructure banks use to move money across borders, work that at most banks still runs on email and manual checks. Gary Palmer, its founder, has built and sold a bank-technology company before, and Payall's cap table already held a16z, Presidio, an affiliate of Sumitomo Corp, and the executives he competed against 25 years ago. He had interest lined up for the round. What he wanted was more specific than money. He was looking for investors with banks as LPs, people who had worked in or built banks, or a presence in the jurisdictions Payall is entering, and he could not find those on his own while most of his time goes to customers, central banks and regulators.
The cap table was already strong.
What he wanted next were investors that came with relationships to banks.
The investor had to be a door to a bank.
Payall sells to banks. An investor with banks as LPs or fintechs in the portfolio is a universe of potential customers.
No time to dial for dollars.
The majority of Gary's time goes to customers, prospects, central banks and regulators. He wanted to hand over his criteria and have the sourcing done against them.
“I'd like to expand my cap table to include investors from different parts of the world. Ideally, those that either have banks as LPs or have worked with banks or have fintechs as portfolio companies. That represents a universe of potential customers.”
Gary Palmer, Founder, Payall
The first introductions came before the engagement was signed. Gary mentioned he was in London and on 24 hours' notice Pairs set up three back-to-back in-person meetings at a private members' club there. That pace is the standard now, as onboarding on the Pairs platform takes a few minutes and loses none of the depth, and first introductions are booked within 24 to 48 hours of completing it.
1
Take the criteria as written.
Gary asked for investors with banks as LPs, people who had spent time inside a bank, or a presence in the jurisdictions Payall is entering. He wanted family offices first, because he has watched them work for the companies they back.
2
Source to it, in other parts of the world.
That meant family offices with bank connections from London to Central and Southeast Asia, and venture firms that grew out of family offices and are run by people who have worked at or built banks. Gary set the brief and every one of the more than 30 names met it.
3
Ask each investor which bank they can open.
The question to every investor was which bank they could introduce Payall to, rather than whether they wanted in. The first bank introduction came within two weeks of Gary meeting the investor, and several more followed across Central and Southeast Asia.
“I don't need someone to carry our water and sell. I want that investor to open some doors. And you've introduced us to an investor that did that within the first couple of weeks of meeting them.”
Gary Palmer, Founder, Payall
One of the family offices Pairs introduced has invested with a strategic allocation and it comes with bank connections. The more important outcome is on the customer side. Investors Pairs introduced have since opened several banks to Payall in Central and Southeast Asia, the first within two weeks of meeting Gary, and customer relationships with those banks have started.
Gary has a clear view on why those introductions matter more than the size of the allocation. Once a bank understands what Payall does it responds, so the hard part is getting in front of it in the first place. When Payall then solves that bank's problem, the investor who made the introduction looks good with that bank, and Gary expects that investor to introduce the next one. Across more than 30 meetings the cap table also picked up the texture he asked for, bank-connected family offices and venture firms run by former bank operators, from London to Central and Southeast Asia.
RELATIONSHIP IN NUMBERS
Client since
April 2025
Round
Series A
Investors met
30+
Investor types
Bank-connected family offices, venture firms with bank operators
Geographies
US, UK, Middle East, Central Asia, Southeast Asia
Time to first introduction
24 hours, with three in-person meetings in London before signing
Investment closed
One family office, a strategic allocation
Bank introductions from introduced investors
Several, in Central and Southeast Asia
Customer relationships from them
Started
Ask the investor what they can open.
Gary did not want anyone selling Payall to banks, only the introduction, because once a bank understands what Payall does it responds. Several of those introductions came through investors Pairs brought in, across Central and Southeast Asia.
An LP base is a customer list.
Investors with banks as LPs or fintechs in the portfolio are a universe of potential customers for a company that sells to banks. That is the alignment Gary wanted from new investors, rather than capital alone.
The bank's win is the investor's win.
When Payall solves a bank's problem, the investor who made the introduction gets the credit with that bank, and that is what leads to the next introduction.
Family offices hustle.
Gary asked for them specifically because in his experience they work for the companies they back, and that is the kind of alignment he wanted on the cap table.
Deliver once, early.
Gary mentioned he was in London and within 24 hours he had three back-to-back in-person meetings at a private members' club, before anything was signed. He backs people who do what they say they will do.
Your competitors are your future investors.
The executives Gary competed against 25 years ago are now his biggest individual investors, which he puts down to both sides keeping it honest while they were competing.
Frequently Asked Questions
Pairs took Gary's criteria and sourced against them across the UK, Central Asia and Southeast Asia. The criteria were investors with banks as LPs, people who had spent time inside a bank, or a presence in the jurisdictions Payall is entering, with family offices first. The first three meetings were set up in London on 24 hours' notice and in person, before the engagement was signed, and more than 30 followed. One family office introduced by Pairs has invested. Investors Pairs introduced have opened several banks to Payall in Central and Southeast Asia, the first within two weeks of meeting Gary, and customer relationships with those banks have started. Gary ran every conversation himself.
Gary set criteria and every name met them, whether that was banks as LPs, former bank operators in the firm, or a foothold in a market Payall is entering. The difference to a list is that these investors can introduce Payall to a bank, and several have.
No. Gary had interest lined up before Pairs came in and a cap table that already included a16z. What he wanted was bank-connected investors in markets he could not reach on his own. Pairs sources against the criteria and makes the introduction, and the meeting itself is Gary's to run.
Family offices with bank connections, and venture firms that grew out of family offices and are run by people who have worked at or built banks. For Payall the geography ran from London to Central and Southeast Asia. One firm in Vietnam and Singapore, run by a former banker, put Payall through the most detailed diligence Gary has seen, with copious notes on every call and questions deep enough that he brought his team in to answer them.
Twenty-four hours, and that was before the engagement was signed. Gary mentioned he was in London and Pairs set up three back-to-back in-person meetings at a private members' club there on a day's notice. That is the standard now, as onboarding on the Pairs platform takes a few minutes at the same depth and first introductions are booked within 24 to 48 hours of completing it.
Introductions to banks in Central and Southeast Asia, the first of them within two weeks of Gary meeting the investor, and customer relationships with those banks have started. Gary values those introductions above the capital, because once a bank understands what Payall does it responds, and when Payall solves that bank's problem he expects the investor who made the introduction to bring the next one.
Gary writes every investor update himself and answers every investor call, text and email personally. He also sends those updates to some prospective investors so they can see how Payall communicates before they commit. Payall is careful with capital and does not have an IR team, so this sits with the founder.
