FinTech news in eqt category

That was the disparity that led three payments engineers to found Payrails, a startup has developed a framework to build and operate more stable enterprise payment services. Enterprises and marketplaces that need to take and make payments across multiple geographies and products have typically relied on mix-and-match bags of third party services patched together by teams of engineers with some of their own code.

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.

The fourth fund will continue to focus on early-stage investments in enterprise software and deep tech, such as open source software, machine learning, quantum computing startups, finance, education and healthcare. Founded by the teams behind the Acronis and Parallels software companies, Runa Capital has so far more than 100 early-stage investments in Europe and North America. The first investments of the new fund include Barcelona-based embedded finance provider Hubuc and Paris-based open source enterprise software developer OpenReplay. Technology entrepreneur Serguei Beloussov (who has since taken the name Serg Bell and Singaporean citizenship) co-founded Runa after starting Acronis, and has since gone on to also establish the Acronis Cyber Foundation, which has partnered with UNICEF, built schools and educated migrants to Switzerland.