EVO Payments secures $150 million cash injection as Covid-19 hits merchant proceeds

EVO Payments | April 01, 2020

US merchant acquirer EVO Payments has secured a $150 million equity injection to help it navigate through the Coronavirus pandemic. The investment came from funds associated with long-term partner Madison Dearborn, a private equity firm that has been a significant shareholder of the company since 2012. The proceeds will be used the strengthen EVO's balance sheet, pay down debt and to fund potential future investment opportunities. In a statement, the firm says: "EVO is closely monitoring COVID-19 and its impact on the company’s business. While EVO’s global portfolio represents a diversified mix of merchants across Europe and North America, many of these merchants operate in markets that are subject to broad governmental restrictions on movement and commerce, resulting in substantial reductions in merchant transaction count and volumes."

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PAYMENTS

ZIL MONEY CORPORATION PARTNERS WITH FISERV

ZIL MONEY | March 11, 2022

Zil Money Corporation announces its partnership with Fiserv, a global technology provider of financial service solutions. Zil Money, the parent company of onlinecheckwriter.com, will now offer the lowest cost credit card processing in the industry using Clover Connect. CEO and Founder of Zil Money, Sabeer Nelli states "We will meet or beat any price" when it comes to customers receiving payments using Fiserv solutions. Clover Connect is Fiserv's integration portal that will enable Zil Money customers to transform their software into an ultimate business management tool. Point of Sale systems will be made available to Zil customers to accept payments at lower costs to the business owner and seamlessly track sales with integration to their existing reports all in one place. Clover Connect cleverly uses its slogan "Powerful alone, better together" to emphasize the streamlined businesses' successes with their partners. This integrated payments approach as a solution to better serve Zil Money's current customers creates a more powerful union. Fiserv is one of the largest payments processors worldwide, moving money and information for thousands of financial institutions and millions of individuals and businesses, the company says. Fiserv helps more than 12,000 banks, credit unions, mortgage lenders and leasing companies, investment firms, and other business clients deliver financial services. According to their website, they have 1.4 billion accounts on file, working with six million merchant locations, and enable 100 million digital banking users. ZilMoney.com is a B2B account payable and receivable platform that offers integration with your bank or to open a FDIC insured bank account using their cloud banking options or through their zilbank.com platform. Zil Money offers expense cards, vendor management, cloud-based approval flow, auto reconcile, positive pay, and more. Since 2019, Zil Money has acquired more than 390,000 customers into their platform and processed over $27 billion in transactions. One million beneficiaries of their system stand to gain from their new credit card processing partnership. The partnership between Zil Money and Fiserv will strengthen the platform enabling businesses to process payments using credit solutions that drive sales faster and more efficiently. By adding this new tool, the Company's flagship platform, Online Check Writer, continues to underscore its all-in-one approach for small to medium-sized businesses.

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CORE BANKING

BancTrust & Co. Investment Bank Announces Launch of U.S. Broker-Dealer Affiliate

BancTrust | May 13, 2022

BancTrust & Co. Investment Bank (BancTrust), a leading global emerging markets investment bank, today announced the launch of BancTrust Securities USA (BancTrust USA), its U.S. broker-dealer affiliate. BancTrust USA is a member of Financial Regulatory Authority (FINRA) and is registered with the Securities and Exchange Commission (SEC). BancTrust USA is based in New York City and will represent BancTrust with U.S. institutional investors and major U.S. institutional investors under a chaperoning agreement in compliance with SEC Rule 15a-6. The initial New York-based team is comprised of Jack Thomas, MD Fixed Income Trading; Erik Berg, MD Debt Capital Markets; Rafael Elias, MD LatAm Corporate Credit Strategy; Dan Bowers, ED Fixed Income Sales; and Maurice Batista, ED Fixed Income Sales. Prior to joining BancTrust USA, Jack was the Head of Emerging Market Trading - New York at Intesa Sanpaolo IMI Securities. He previously held positions at UBS Investment Bank, Santander, Societe Generale and ING Financial Markets. Jack has nearly 20 years of experience trading EM fixed income and has specialized in both Latin American and Asian credit markets. He holds a Bachelor of Arts in Economics and Accounting from the College of the Holy Cross. Erik has over 25 years of experience in international capital markets. He has had senior capital markets roles in New York at Deutsche Bank, ING, ABN Amro, Standard Bank of South Africa, Commerzbank, and Natixis, and been responsible for debt origination across Latin America including new bond issues, debt restructurings, debt buybacks and public and private sector debt exchanges. Mr. Berg is a graduate of Wesleyan University, Connecticut and holds an MBA from the IAE /Universidad Austral, Buenos Aires. Rafael (Rafa) was previously a Director of Research for Latin America at StoneX and formerly at Tellimer Markets. His experience spans over 25 years of being responsible for macro and corporate strategy at Cantor Fitzgerald, Credit Agricole, Knight Libertas, UBS, Deutsche Bank, ING, and Credit Suisse. Rafa holds a Master's degree in Public and Private Management (MPPM) from Yale University's School of Management and a Civil Engineering Bachelor's degree from Universidad Anahuac in Mexico. Dan is an investment professional with 20 plus years of experience in emerging markets. Before joining BancTrust USA, he held senior EM sales roles with Unicredit and Societe Generale. Previously Dan had trading roles at Moore Capital, Depfa Investment Bank and Galileo Asset Management. He has an MBA in Business Administration and Bachelors in Banking and Finance from Hofstra University. Maurice has over 20 years of experience in financial services, with a focus on global EM. Prior to joining BancTrust USA, he worked in EM institutional sales at Torino Capital and Stifel Financial. Previously, at Renaissance Capital Securities, he headed FICC sales in New York, focusing on Russia, CIS and Africa. He began his career in emerging markets at Chase Securities and has also worked in sales at BBVA and Cantor Fitzgerald. He holds an MBA from NYU Stern School and a BA in Political Science from UCLA. I am thrilled to announce the expansion of the BancTrust group in the U.S. We have assembled a senior team with extensive experience in dealing in frontier and emerging markets. Our New York presence will enable us to better serve and grow our current U.S. client base as we aim to be their trusted partner in emerging markets." CEO Carlos Fuenmayor. About BancTrust & Co. BancTrust & Co. Investment Bank is a leading London-based global emerging markets investment bank that offers corporate and investment banking, securities dealing and financing, investment research products and services to a diversified client base mainly comprised of emerging and frontier markets-based corporations, financial institutions, governments, and dedicated global EM asset managers.

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FINANCIAL MANAGEMENT

REPAY to Acquire Integrated Payments Provider BillingTree for $503 Million

REPAY, BillingTree | May 11, 2021

Repay Holdings Corporation, a leading provider of vertically-integrated payment solutions, today announced it has signed a definitive agreement to acquire BillingTree for approximately $503 million. The acquisition will be financed with approximately $275 million in cash from REPAY’s balance sheet and $228 million in newly issued shares of REPAY Class A common stock to be issued to the seller. The transaction is subject to certain customary closing conditions and is expected to close by the end of the second quarter of 2021. BillingTree, founded in 2003 and headquartered in Scottsdale, AZ, is a leading provider of omni-channel, integrated payments solutions to the Healthcare, Credit Union, Accounts Receivable Management (ARM), and Energy industries. Through its technology-enabled suite of products and services, including a variety of payment channels and reporting capabilities, BillingTree helps organizations get paid faster and more efficiently. “We are thrilled to announce this acquisition, our largest to date, and look forward to further expanding our position in Healthcare, Credit Unions, and Accounts Receivable Management with the help of BillingTree’s team and strong platform capabilities,” said John Morris, CEO of REPAY. “BillingTree satisfies all of our acquisition investment criteria, including a large addressable market opportunity that is amid a shift away from legacy payment methods and towards the technology-first, industry-specific payment mediums in which BillingTree specializes. Additionally, BillingTree has strong recurring revenue streams, high customer retention, approximately 50 unique ISV integrations, an attractive financial profile, and numerous opportunities for synergy realization. We are looking forward to welcoming BillingTree into the REPAY family and together pursuing many amazing growth opportunities ahead.” “BillingTree’s unique approach has always been to develop strategic alliances with service, software, and billing providers resulting in full integrations that create seamless, compliant, and innovative payment solutions. We believe that we are an ideal strategic partner for BillingTree, as we also go to market with a highly integrated, omni-channel approach. Together, we can capture more of the massive addressable market in payments and combine our incredible team members and technology to create simplified experiences for merchants across our collective, ever-expanding verticals,” continued Morris. Credit Suisse served as exclusive financial advisor and Troutman Pepper served as legal advisor to REPAY. Financial Technology Partners (“FT Partners”) served as exclusive financial advisor and Kirkland & Ellis served as legal advisor to BillingTree and Parthenon. About BillingTree BillingTree is a leading provider of integrated payments solutions to customers in the Healthcare, Credit Union, ARM, and Energy verticals. Leveraging more than a decade of market experience, BillingTree is dedicated to growing payments with technology through an integrated omni-channel offering, suite of proprietary products and value-added services, and a company-wide focus on delivering extraordinary customer service. 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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PAYMENTS

Choice Brings on Nexa Equity as Majority Investor and Acquires Direct Payment Consultants

Choice; Nexa Equity | April 27, 2022

Nexa Equity LLC, a private equity firm focused on scaling lower middle market software and fintech businesses, announced today that it has acquired Choice Inc., a leading global payments platform. Additionally, Choice has acquired Direct Payment Consultants, a payments provider that partners directly with merchants. After the acquisition, Choice's platform will process more than $3 billion in annual payments volume across 7,000+ customers in the United States and Canada. The founding teams of both Choice and Direct Payment Consultants each continue to hold a meaningful stake in the combined business. Financial terms of the transactions were not disclosed. The Choice global payments platform provides advanced, end-to-end omnichannel commerce solutions to merchants and technology companies of all sizes. The company's modern payment integrations and business management solutions empower independent software vendors (ISVs), payment facilitators (PayFacs), enterprise merchants and independent sales organizations (ISOs) to enable their merchants to accept multiple electronic payment types and tools to scale their businesses. Direct Payment Consultants is focused on helping merchants complete end-to-end payment transactions for their businesses. Combined with Choice's leading platform, the customers of Choice and Direct Payment Consultants will benefit from an expanded product portfolio and the shared knowledge of operators with a deep understanding of the payments space. Choice's mission to modernize the convergence of payments and technology to transform the future of commerce aligns well with Nexa Equity's investment strategy, We look forward to scaling the Choice platform through organic initiatives while continuing to actively pursue strategic acquisitions like Direct Payment Consultants." Nexa Founder and Managing Partner Vlad Besprozvany. Nexa Equity's investment will augment Choice's go-to-market team and enhance its omnichannel fintech platform. The platform includes a payment gateway, application programming interfaces (API), point-of-sale-software, invoicing, recurring billing, embedded financing, real-time underwriting, and comprehensive partner and merchant reporting. We wanted to bring on a capital partner that understands our business, goals and end customer, and we found that in Nexa Equity, Choice is laser focused on providing customers with the most comprehensive and cutting-edge omnichannel payment solutions in the industry to benefit all parties in the equation. Our acquisition of Direct Payment Consultants will enable us to execute on this vision even further and I'm thrilled to have the Direct Payment Consultants team join us and to take Choice to the next level together." Choice CEO John Paul Golino. We are excited to join forces with Choice and to enhance our service to customers by offering them the proprietary software and tools in Choice's platform, The combination solidifies our ability to deliver a leading integrated payments solution to our customers and partners, and we look forward to what we will achieve as a combined team." Direct Payment Consultants CEO Jim Black. About Nexa Equity Nexa Equity is a San Francisco, California based private equity firm that partners with founder-led, rapidly scaling SaaS and fintech companies that address markets underserved by technology to create enduring value for the benefit of its investors and portfolio companies. The firm has more than $250 million in private equity capital under management and is focused on continuing to grow its portfolio of companies. The Nexa Equity team brings substantial investing and operational experience to the table and helps management teams professionalize and scale their businesses and drive long-term sustainable growth. About Choice Merchant Solutions Choice is a fast-growing payments and technology fintech that offers merchants a robust, omnichannel commerce experience. The company's proprietary technology platform integrates seamlessly into software vendor technology stacks, enabling embedded payment monetization along with fraud management tools, analytics and comprehensive reporting for ISVs and their merchants. About Direct Payment Consultants Direct Payment Consultants is a Pennsylvania based payments company. Direct Payment Consultants partners with businesses across the country to accept all major payment cards. The company is committed to offering customers best-in-class payment processing services, alongside cost saving measures, to enable customers to drive better business results.

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