Billtrust acquired by South Mountain

The combined company will continue as a publicly listed entity and have an implied estimated enterprise value of approximately USD 1.3 billion at closing, based on current assumptions. Upon closing of this transaction, the company intends to change its name to BTRS Holdings and is expected to trade on The Nasdaq Stock Market under a new ticker symbol.

Billtrust’s management team led by Flint Lane, Founder and Chief Executive Officer, Steve Pinado, President, and Mark Shifke, Chief Financial Officer, will continue to lead the new entity created. Billtrust is a provider of cloud-based software and integrated payment processing solutions that automate B2B commerce.

The software provider develops solutions that deal with accounts receivable (AR), providing services that span credit decisioning and monitoring, online ordering, invoicing, cash application and collections. Billtrust’s solutions integrate with several ecosystem players, including financial institutions, enterprise resource planning (ERP) systems, and accounts payable (AP) software platforms.

In November 2018, Billtrust created the Business Payments Network (BPN), a network that connects buyers, suppliers, and financial institutions to simplify and streamline the process of accepting electronic payments.