Lavu acquires accounts payable automation startup Sourcery

Thursday 8 August 2019 13:11 CET | News

US-based payment processing platform Lavu has acquired Sourcery, an automated accounts payable solution designed for the restaurant industry.

The amount of the deal was not disclosed. The acquisition complements Lavu’s restaurant management platform with Sourcery’s end-to-end payment automation solutions, from invoice intake, to approvals, to payment execution.

Founded in 2012, Sourcery has developed a technology platform that removes the need for pen and paper and transfers the accounts payable process to the cloud. Information is saved, coded, and categorized for future use, with the data accessible from anywhere at anytime. Payments are automated and sent through a secure, online billpay platform and invoices are processed quickly. It is a Y Combinator-backed startup.

Lavu provides a mobile point-of-sale and payment processing system for restaurants and bars. Used in food service establishments in more than 90 countries, Lavu is a full-featured iPad-based POS system available in the Apple App Store.

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Keywords: Lavu, Sourcery, acquisition, AP automation, accounts payable automation, mergers and acquisitions, payment processing platform, automated accounts payable, US, North America
Countries: World