A wholesale investment opportunity within an established payments group.
- $25M
- 36 months
- Since 2003
An established healthcare payments ecosystem, open to wholesale investors.
The opportunity gives eligible wholesale investors exposure to an operating group with more than two decades of healthcare payment-plan experience, supporting the ongoing provision of eligible payment plans through Payon DentiCare's established practice network.
How the Fund Works
A simple structure, clearly explained.
Investor capital supports eligible BNPL credit contracts through a structure operated by a group with more than two decades of payment-plan experience.
- 01
Investor capital is raised through the Payon BNPL Unit Trust (also referred to in the Information Memorandum as the Payon Capital BNPL Fund).
- 02
The Fund provides debt funding to Payon Capital.
- 03
Payon Capital deploys this funding into eligible Buy Now Pay Later credit contracts supporting customers across relevant healthcare and wellness markets.
- 04
Principal and applicable targeted returns are payable according to the Fund terms.
Individual Buy Now Pay Later credit contracts are limited to a maximum of $2,000 per contract. This is a high-level summary only — full terms are set out in the formal investment documents.
Preferred Investor Program
A limited program for qualifying investors.
The formal offer documents describe a limited Preferred Investor Program with an enhanced target yield for qualifying investors. The minimum investment for the program is AUD $250,000, and the initial program tranche is limited to AUD $10 million. Eligibility and unit class are confirmed by Payon Capital under the formal offer documents.
Market momentum is only half the story. The real opportunity lies in our ability to capture that growth through the Payon DentiCare® payments ecosystem. By leveraging established infrastructure in a market projected to grow from $31.34 billion to $67.07 billion by 2031, we provide investors with a vehicle designed not just to follow trends, but to lead them.
Where the capital goes
Debt funding for
Payon BNPL.
The Fund provides debt funding to Payon Capital to support eligible BNPL credit contracts across healthcare, beauty and wellness. It is a wholesale-only opportunity governed by the formal offer documents, which set out the terms, targeted returns and risks in full.
The deployment thesis
The Fund provides debt funding to Payon Capital to support eligible BNPL credit contracts. It draws on operating experience the group has built over more than two decades of payment-plan activity.
Built on the group's established operating experience.
Payon BNPL draws on the operating experience of the Payon DentiCare network — a group platform that has processed more than $620M in annual transactions across 2,100+ practices since 2003. The Fund itself provides debt funding to Payon Capital to support eligible BNPL credit contracts; investor capital does not fund infrastructure, technology or group expansion.
Expanding into high-growth consumer markets.
The BNPL market in Australia is projected to grow from $31.34 billion to $67.07 billion by 2031. Payon BNPL is being positioned to capture a material share of that growth — not through a generic offering, but through industry-specific products built for Dental, Health, Beauty and Wellness that incumbent BNPL providers are structurally unable to serve well.
A wholesale opportunity governed by the offer documents.
The Fund provides debt funding to Payon Capital to support eligible BNPL credit contracts. The terms, targeted returns and risks are set out in the formal offer documents, which are controlling. Targeted returns are not guaranteed.
Integrated operating model.
Payon BNPL draws on proprietary infrastructure built and maintained within the group, alongside external service providers where required. It is funded through Payon Capital Pty Ltd, which holds AFSL & ACL 509400.
THE INVESTMENT PROCESS
Five steps,
start to finish.
Straightforward and handled directly by the Payon Capital team. Formal documents are issued only after eligibility is confirmed.
Register your interest.
Eligible wholesale investors register through the Payon Capital enquiry form.
Eligibility confirmed.
The Payon Capital team contacts you to confirm your eligibility as a wholesale investor and discuss the opportunity.
Approved materials provided.
Once eligibility is confirmed, the approved fund materials and the formal offer documents are provided.
Secure application completed.
Payon Capital issues a personalised, expiring secure application link. You complete the required structure-specific application and the PandaDoc document and signature steps.
Funding proceeds.
Once an application is accepted, funding proceeds under the formal offer documents, supporting the ongoing provision of eligible healthcare payment plans across the Payon DentiCare network.
Named, credentialled, reachable.
Payon Capital is led by a senior team with decades of experience across healthcare payments, financial operations, and regulated investment management.
David Cathie
Chairman & Managing Director
Co-founder of DentiCare in 2003, with more than 24 years of executive leadership across healthcare and medical sectors in Australia, New Zealand and Southeast Asia. David has played a central role in developing the broader Payon ecosystem, which now manages more than $620M in annual payment-plan transactions. His focus spans strategic leadership, regulatory compliance, privacy, data security and continued fintech development.
Ghafur Barchia
Director & CFO
A Chartered Accountant who first became involved with DentiCare as a strategic adviser in 2014, became CFO in 2022 and Director of Payon Capital in 2026. His experience spans accounting, taxation, mergers and acquisitions, capital raising, funds management, private equity, corporate governance, capital efficiency and risk management.
Charles Smith
Director & Fund Manager
Joined DentiCare in 2021 and holds a Bachelor of Commerce majoring in Accounting and Finance. His role spans financial reporting, investment-focused analysis, governance and the financial insight required to support continued growth and scale.
Jessica Pearse
Chief Product Officer
Holds a Master of Financial Technology from UNSW and leads product development across regulated financial technology and payments. Her remit includes regulated consumer lending, multi-rail payment orchestration, payment-facilitator capability, credit assessment, identity verification, AML/CTF controls, product strategy, and technology and commercial delivery.
Key Terms
The terms that
matter, in one place.
Full terms, applicable rates, eligibility requirements, fees and risks are contained in the formal investment documents.
Register InterestTargeted Returns
Detailed in the IM
Applicable targeted returns, and the full basis on which they apply, are set out in the formal investment documents. Targeted returns are not guaranteed.
Target Fund Size
$25 million
Payon BNPL Unit Trust — an unregistered managed investment scheme structured as a unit trust.
Initial Term
36 months
The initial term is 36 months from allotment. The Manager may offer a further term of up to 24 months at its discretion, as described in the formal offer documents.
Investor Eligibility
Wholesale investors only
Investment Levels
From $100,000
Minimum application of $100,000, subject to wholesale-investor eligibility. Full application terms are set out in the formal investment documents.
Offer Documentation
IS · IM · Application Booklet
Investment Summary, Investment Memorandum and Application Booklet.
Licence
AFSL & ACL 509400
Held by Payon Capital Pty Ltd ACN 625 146 303.
Questions
Common questions, answered directly.
If you have a question not covered here, register your interest and a member of the Payon Capital team will be in touch.
Register InterestThe opportunity is available only to eligible wholesale investors. The Payon Capital team will confirm the relevant eligibility pathway following your initial enquiry.
The initial investment term is 36 months. Refer to the formal documents for complete terms, including extension provisions.
Applicable targeted returns, and the full basis on which they apply, are set out in the formal investment documents provided to eligible wholesale investors. Targeted returns are not guaranteed.
No. Returns and repayment of capital are not guaranteed. Investment involves risk, including the possible loss of capital. Prospective investors should read the formal investment documents and obtain independent professional advice.
Register your interest and the Payon Capital team will contact you to confirm eligibility and provide the appropriate documents.
Payon Capital
Speak directly with the Payon Capital team.
Register your interest and we will be in touch to confirm eligibility and provide the relevant formal documents. Available to eligible wholesale investors only.
$25M
Target Fund size
Payon BNPL Unit Trust.
36 months
Initial term
A further term of up to 24 months may be offered at the Manager’s discretion.
From $100k
Minimum investment
Subject to wholesale eligibility.
This information is general information only and does not take into account your objectives, financial situation or needs. The opportunity is available only to eligible wholesale investors. Investment involves risk, including the possible loss of capital. Targeted returns and repayment of capital are not guaranteed. Prospective investors should read the formal investment documents and obtain independent professional advice before making an investment decision.