FinTech news in accounts receivable category

Billtrust, a company developing a platform to automate the invoice-to-cash process, today announced that it agreed to be acquired by EQT, the Sweden-based private equity firm, for $1.7 billion in an all-cash deal. It quickly grew to offer software-as-a-service (SaaS) products to manage billing for companies, including electronic billing and payments for consumer and business billing services. Approved by Billtrust board of directors, the transaction is expected to close in Q1 2023 subject to the green light from Billtrust’s shareholders and regulators. Prior to going public through a SPAC merger in 2020, Billtrust made nine acquisitions — most recently of Order2Cash, a cash processes management platform — and raised over $100 million in venture capital.