This release in the Valdosta Daily Times speaks to the latest acquisition by Billtrust, the New Jersey Payments automation firm that went public in early 2021 via the SPAC path. One of the main goals at the time was to use the new capital for expansion. In this case, the expansion is into Europe by acquiring Netherlands-based Order2Cash, a cash cycle automation firm. There is no information posted about the size of the deal.
‘For over 20 years, each company has pursued a similar vision to streamline and accelerate B2B payments for its customers. Now, those customers will gain access to a broader platform of SaaS modules and a global B2B payments network at a time when it is critical to digitally transform accounts receivable to maximize cash flow. Order2Cash’s enterprise customer base, global interoperability capabilities and established connections to over 70 B2B and B2G e-invoicing networks will broaden BPN’s reach to deliver fully compliant and secure e-invoicing across multiple markets. As an open network supporting buyers and suppliers, allowing both accounts payable and accounts receivable platforms to exchange invoices, payments and remittance data, BPN delivers invoices to over 170 leading accounts payable (AP) portals.’
Billtrust had been building a steady inflow of clients for about 15 years and began to develop some momentum with their Business Payments Network with Visa back in 2018. Then the pandemic hit and the value of digitization jumped and these payments automation fintechs with solid client bases took off in terms of new volumes, while the SPAC idea provided a good way to hit the stock market during this critical momentum swing.
‘“On behalf of our Order2Cash team, we are pleased and excited to combine with Billtrust, a true industry leader and innovator,” said Frank Hoekstra, CEO, Order2Cash. “Since 2000, we have worked to make the digital transformation of AR fast and simple while streamlining B2B invoicing and payments. Billtrust brings us an exciting opportunity to leverage our joint commercial and industry experience and offer all customers greater access to a global marketplace. Our coming together ensures that we can continue to provide the speed and quality of service needed to operate in today’s digital landscape.”…
The Order2Cash team will continue to operate from Netherlands locations in Amsterdam and Joure, as well as offices in Krakow, Poland and New York City, USA.’
Overview by Steve Murphy, Director, Commercial and Enterprise Payments Advisory Service at Mercator Advisory Group