FinTech: M&A Deals Of Note
Three transactions this week cover bill payments, investment communications, and paperless invoices.
Fintech M&A to note:
Payveris-Paymentus
Payveris, an open-API, cloud-based digital payments and money movement platform for financial institutions and their digital partners has acquired Paymentus, an integrated, omni-channel platform for electronic bill payments.
The transaction value is $152.2 million, with approximately 56% payable in cash and 44% in Paymentus Class A common stock.
“This acquisition not only accelerates our ability to disrupt the legacy bill pay paradigm, but also helps us deliver greater value to our billers, strategic partners and financial institutions,” said Dushyant Sharma, Paymentus’ president and CEO. (CROWDFUND INSIDER)
Robinhood-Say
Robinhood, the commission-free trading app that has a mission to democratize finance for everyone, will pay $140 million in cash to acquire Say Technologies, a communications platform for broker-dealers, investors, and public companies.
“Say’s proxy processing technology helps broker-dealers give their customers seamless access to their vote,” the joint announcement by the companies said. Its Q&A portal “lets everyday shareholders participate in events like earnings by asking and upvoting questions.”
“We founded Say to give investors a better way to engage with the companies they own, and to give companies tools to better understand and access their investors,” said Alex Lebow, co-founder and CEO of Say Technologies. (PYMNTS.com)
Volaris-MetaViewer
Volaris, which acquires, strengthens, and grows vertical market software companies, has acquired paperless document management company MetaViewer, a division of Metafile Information Systems, a leading provider of accounts payable (AP) automation technology to Microsoft Dynamics users in North America.
The terms of the transaction were not disclosed, however.
“Our organization chose to become part of Volaris because we believe it is a perfect fit for Metafile,” said Metafile CEO Nick Sprau. “This change will benefit our customers and employees and brings us a multitude of opportunities simply not available on our own, including access to capital, talent and operational expertise, and synergies with other similarly situated companies.” (Intrado Globenewswire)
Related Story: Zip Acquires BNPL Providers In Europe And UAE
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