Just when it looked like mergers and acquisitions had gone on vacation, there’s some FinTech news to report in the B2B sphere.
Repay Holdings Corporation, a provider of vertically-integrated payment solutions, announced it has acquired Kontrol Payables. The deal is worth up to $11 million US, of which $8 million was paid at closing. Repay Holdings is financing the acquisition with cash on hand.
Kontrol, founded in 2011, is an integrated accounts payable automation solutions provider. It serves clients in a variety of end markets, including construction, food production, software, manufacturing, and education. It is expected to process approximately $300 million of virtual card volume in 2021.
“With their AP automation capabilities and supplier network, Kontrol is the perfect partner to grow our AP automation business and enhance our comprehensive B2B offering. In an increasingly digital world, there continues to be ever-strengthening demand for technology-first B2B automation and payment solutions, as enterprise customers aim to reduce costs and streamline back office processes. This acquisition will give us the opportunity to leverage REPAY’s B2B technology infrastructure, increase our virtual card volume, and better position us to address the $2.2 trillion total addressable market for our B2B AP automation business,” said John Morris, CEO of REPAY. “We are thrilled to welcome the Kontrol team to the REPAY family.”
Finstro is expanding into the American market. The provider of trade credit and payment solutions for B2B commerce is based in Australia. The company is leveraging its proprietary, data-driven credit engine to create a card solution and an integrated ERP solution to solve risk, cash flow and client onboarding challenges that exist in supplier-buyer relationships.
Founder and CEO Brad Prout has relocated to the US to oversee the expansion.
“Over half of all suppliers in the US have to provide goods and services to their business customers with trade credit to effectively compete. Finstro has more efficient tools to extend and manage this credit. Suppliers remove risk and get paid instantly and buyers gain access to more flexible payment options and terms. Ultimately, this removes friction from the B2B commerce relationship and allows suppliers to focus on their core business,” said Prout.
The marketing and promotion of software to support the construction industry is becoming more pronounced.
Brighttail, Inc., a B2B Marketing-as-a-Service (MaaS) agency has announced the launch of a new website for its client Avontus Software. Avontus is a leader in scaffolding software.
The new website represents the completion of a new brand strategy and identity for
Avontus. The website includes new features specifically designed to help users discover the best scaffolding software for their businesses.
“Whether they’re long-time customers or just curious about us, visitors of our new website will find it an even easier, more enjoyable way to learn about how we can work together to improve their businesses and lives through technology,” says Ali Hajighafouri, Director of Strategic Partnerships at Avontus.
More information: https://brighttail.com/