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REPAY Announces Strategic Partnership with Veem

REPAY | September 24, 2021

REPAY Announces Strategic Partnership with Veem
Repay Holdings Corporation, a leading provider of vertically integrated payment solutions, today announced it has entered into a commercial partnership agreement with Veem to expand each party’s B2B payment capabilities. With the agreement, REPAY will expand its ability to deliver cross-border payment options, and Veem will broaden its capabilities by leveraging REPAY’s core B2B virtual card and acquiring technology.

In addition to the commercial relationship between REPAY and Veem, REPAY has made a minority equity investment in Veem to provide additional support for Veem’s go-forward growth. The investment was financed with cash on hand and pro forma net leverage is expected to remain at the current level of approximately 2.8x.

“This mutually beneficial commercial agreement and investment strengthens our relationship with a strategic and long term B2B partner,” said Darin Horrocks, EVP of REPAY’s B2B business. “We are excited to partner with the Veem team to offer our clients a more robust B2B offering, with the help of Veem’s cross-border technology. This should help us unlock more of the massive global B2B payments market, which is estimated at approximately $125 trillion today and anticipated to grow to $200 trillion over the next decade. Additionally, REPAY will enhance Veem’s offering by providing Veem customers with access to REPAY’s issuing technology and virtual payment capabilities. With our companies now strategically aligned, we expect this to be the beginning of a long and successful partnership.”

“This partnership with REPAY will empower business users to conduct globalized business transactions with ease and convenience,” said Bimal Shah, Head of Corporate Development for Veem. “Merchants today demand fast, reliable and secure payments. To meet these needs, we’re excited to join forces and give REPAY users access to our digital payment offerings. The digital payments revolution is in full swing and we are thrilled to complement our existing transnational technology products with REPAY.”

About Veem
Founded in 2014, Veem is an accounts receivable and accounts payable automation provider serving small and medium-sized businesses. Veem offers a wide variety of services, including invoice automation, reconciliation, approvals, and B2B payments, enabling its customers to seamlessly make and receive payments both domestically and cross-border. Veem’s client base includes over 300k customers located in 110+ countries. In addition to REPAY, Veem is supported by an impressive list of financial and strategic equity investors, including but not limited to, Kleiner Perkins, Google Ventures, and Truist Ventures.

About REPAY
REPAY provides integrated payment processing solutions to verticals that have specific transaction processing needs. REPAY's proprietary, integrated payment technology platform reduces the complexity of electronic payments for merchants, while enhancing the overall experience for consumers and businesses.

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Global Processing Services Raises Over US$300 Million to Accelerate Technology Development and Global Growth

Global Processing Services | October 14, 2021

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After 35 years dedicated to international investing, Advent remains committed to partnering with management teams to deliver sustained revenue and earnings growth for its portfolio companies. For more information, visit: About Viking Global Investors LP Founded in 1999, Viking is a global investment management firm that manages approximately $48 billion of capital for its investors. It has offices in Greenwich, New York, Hong Kong, London, and San Francisco and is registered as an investment adviser with the U.S. Securities and Exchange Commission. For more information, please visit www.vikingglobal.com.

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Billtrust Acquires iController, a Belgium-based B2B Collections Software Provider

Billtrust | October 13, 2021

Billtrust (NASDAQ: BTRS), a B2B accounts receivable (AR) automation and integrated payments leader, announced today it has acquired iController, a leading B2B provider of intelligent solutions for collections management, for $58 million, financed with cash on hand. Founded in 2007, Belgium-based iController’s software-as-a-service (SaaS) offering enables a wide range of users, from credit and collections managers to CFOs, to see information and communication in real time, providing visibility into cash flow management. “Acquiring a great company like iController is consistent with our growth plan of strategic global expansion in targeted ways to broaden our customer footprint and provide extended value to our current customers,” said Flint Lane, Billtrust Founder & CEO. “We are pleased to welcome Peter Janssens and the entire iController team to Billtrust,” said Steve Pinado, Billtrust President. “With 566 European customers, iController is a powerful resource for credit and collections professionals and a strong strategic fit for Billtrust, expanding our physical presence in the European market while enhancing our global collections capabilities.” “Joining the Billtrust family will help us more rapidly scale our business and increase the level of resources we can deploy to better serve our growing customer base,” said Peter Janssens, iController Founder & CEO. “Our shared values and aspirations make this an ideal combination for iController.” iController’s team will continue to operate from its offices in Ghent, Belgium and Amsterdam, The Netherlands, expanding Billtrust’s strategic presence in the region. About Billtrust Billtrust is a leading provider of cloud-based software and integrated payment processing solutions to simplify and automate B2B commerce. Accounts receivable is broken and relies on conventional processes that are outdated, inefficient, manual and largely paper based. Billtrust is at the forefront of the digital transformation of AR, providing mission-critical solutions that span credit decisioning and monitoring, online ordering, invoice delivery, payments and remittance capture, invoicing, cash application and collections. For more information, visit Billtrust.com.

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Finastra introduces instant onboarding for cloud payments technology

Finastra | October 12, 2021

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