- Personal Fairness Agency EQT has agreed to accumulate B2B accounts receivable and funds firm Billtrust.
- The deal is predicted to shut within the first quarter of subsequent 12 months for $1.7 billion.
- This transfer will take Billtrust again to a privately-held firm, following its public debut on the NASDAQ in 2020 after closing a SPAC merger.
B2B accounts receivable and funds firm Billtrust introduced immediately it has agreed to be acquired by EQT Personal Fairness for $1.7 billion. The transaction is predicted to shut within the first quarter of 2023.
As soon as finalized, the deal will take Billtrust from the general public markets. The corporate went public in 2020 in a SPAC merger valued at roughly $1.3 billion. Billtrust is presently listed on the NASDAQ and has a market capitalization of $1.52 billion.
“This transaction marks the start of an thrilling new chapter for Billtrust, our prospects and workers whereas offering shareholders an instantaneous and substantial money worth with a compelling premium,” stated Billtrust Founder and CEO Flint Lane. “We consider B2B funds and accounts receivable proceed to be ripe for large disruption and innovation, and our partnership with EQT will present us with higher sources and suppleness to construct on our management place.”
Billtrust was based in 2001 to supply a set of options that simplify and automate B2B commerce by cloud-based software program and cost processing options. In 2018, the corporate launched its Enterprise Funds Community (BPN) that connects consumers, suppliers, and monetary establishments to simplify and streamline digital cost acceptance. The corporate additionally provides instruments for credit score threat managers, ecommerce options for wholesale distributors and manufacturing companies, funds acceptance instruments, and extra.
For EQT, a Sweden-based non-public fairness agency with $100 billion in belongings underneath administration, this marks its third fintech deal. Others within the agency’s fintech portfolio embody SaaS cloud banking supplier Mambu and cost acceptance firm Mollie.
“The Billtrust platform options fashionable options, a compelling worth proposition, and, like EQT, a dedication to innovation and transformation within the digital period,” stated Arvindh Kumar, Associate and Co-Head of EQT’s World Know-how Sector Workforce. “Moreover, the Firm operates on the intersection of software program, fintech, and funds—sectors during which EQT has deep familiarity and a observe document of success. With proprietary end-to-end options that generate worth for all stakeholders and throughout financial cycles, Billtrust is poised to advance its main providing within the underpenetrated accounts receivable automation house.”
Photograph by fauxels