Repay Holdings Corporation recently purchased Payix for up to $115 million. The acquisition was finalized over cash on hand. Repay also announced a $60 million increase in revolver capacity,with the goal of increasing its existing Revolving Credit Facility from $125 million to $185 million.
Repay offers cohesive payment processing solutions to verticals, which possess precise transaction processing requirements. Its technological platform functions to reduce the complexity of electronic payments for merchants. As a result, Repay and Paypix are working to create fine-tuned financial experiences for consumers and businesses in terms of finance. They aim to enhance the overall experience of seamless payment mode for everyone associated with their business.
Payix was founded in 2016 in Fort Worth. Since then, Payix has become the leading omnichannel payment technology platform. The platform provides solutions that simplify payments, communication, and data exchange to support customer service and collection efforts in loan repayment verticals. Paypix’s software supports a broad range of payment options. Its SaaS approach integrates seamlessly into loan management systems (“LMS”) and dealer management systems (“DMS”). In all, Paypix creates optimum solutions with the help of technology to deliver seamless solutions in the payment landscape.
We are thrilled about the acquisition of Payix, a highly complementary business to REPAY. With its robust and highly flexible technology platform, Payix creates a uniquely positive experience and adds value for both the lender and the borrower. Payix also has a strong pipeline and product roadmap, positioning it well for 2022 and beyond. We look forward to welcoming the Payix team into the REPAY family.”
John Morris, CEO of REPAY
During the acquisition, Troutman Pepper served as legal advisor to REPAY. Capstone Partners served as private financial advisor and Gunderson Dettmer as legal advisor.