Billtrust acquires iController for USD 58 million

Wednesday 13 October 2021 14:50 CET | News

US-based accounts receivable automation company Billtrust has acquired purchased collections management company iController for USD 58 million.

Belgium-based iController was founded in 2017 and offers a SaaS product that provides credit and collections professionals visibility into cash flow management. Billtrust will acquire the iController team, along with the company’s 566 Europe-based clients. iController employees will continue working in the company’s offices in Belgium and The Netherlands.

Billtrust was founded in 2001 and today’s deal marks the company’s eighth acquisition. Billtrust offers credit, ecommerce, invoicing, payments, managed services, training, and more. The company also offers a collections tool, which will be enhanced with iController’s collections product. 

In 2013, Billtrust launched its Business Payments Network, a service that connects suppliers to accounts payable automation platforms buyers are using to pay, as well as to a network of third-party banks and ERPs. Earlier this year, the company updated the platform to now support bi-directional exchange of transactional data and documents. The new release now enables invoice presentment to accounts payable portals.

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Categories: Banking & Fintech | E-invoicing, SCF & E-procurement
Countries: United States
This article is part of category

Banking & Fintech