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TreviPay acquires Apruve

Friday 9 December 2022 13:35 CET | News

US-based B2B payments and invoicing network TreviPay has announced the signing of a definitive agreement to acquire payment solutions platform Apruve.

 

Apruve’s payment solutions suite for global enterprises is set to complement and expand on TreviPay’s order-to-cash technology offerings, merchant invoicing solutions, and the geographical reach of its B2B networks. With TreviPay having had a 30% growth in 2022 due to demand from global enterprise buyers and sellers, the acquisition helps further the company’s plan in expanding its order-to-cash technology offerings and B2B payment network, with the acquisition building on TreviPay’s Baton Financial Services purchase in February 2022.

As TreviPay offers payment and invoicing solutions to several leading manufacturers and OEMs (original equipment manufacturers), the Apruve acquisition is believed to help accelerate the company’s advancements within the technology manufacturing vertical and to expand its geographical reach into Asian markets. As per the company’s spokesperson, Apruve has a similar approach to market and shares TreviPay’s vision in simplifying how B2B suppliers are paid. The company expects a smooth transition as Apruve migrates their customers to TreviPay, with the company continuing to offer solutions for B2B customers to buy more with invoice-based purchasing.

US-based B2B payments and invoicing network TreviPay has announced the signing of a definitive agreement to acquire payment solutions platform Apruve.

Details on the acquisition and the companies’ B2B payment offering

TreviPay’s payments and invoicing networks offering is tailored to respond to the needs of businesses of all sizes, its networks helping automate the order-to-cash process through means of omnichannel checkout options, localised B2B invoicing that is engineered specifically for global expansion, managed receivables, and fraud and risk management. Having 90,000 buyers and 80,000 seller locations globally, TreviPay helps merchants and suppliers to create increasingly profitable and loyal trading relationships. 

Speaking on the announcement, Apruve officials have advised that the two companies are to collaborate on going to market together in the vertical of technology manufacturing, with all its personnel being retained, and its clients enabled to benefit from uninterrupted service from both companies. Details on the financial terms of the transaction are to remain confidential, as per the information provided in the press release. 

Following the acceleration of the global digital transformation due to the COVID-19 pandemic, B2B companies have their attention focused on the money flow within the B2B ecosystem. Having this knowledge in mind, TreviPay aims to help B2B merchants in manufacturing and other industries with the digitisation of complex payments and invoicing processes for their business buyers.

Apruve builds Trade Credit Automation programmes for enterprises looking to change their procure-to-pay process, combining A/R automation with guaranteed next-day financing on all open invoices. The company enables B2B suppliers in both local and international markets to reduce fixed costs in A/R by more than 50%, shorten DSO to one day, and create a purchase experience for their customers that is efficient. 

A B2B payment method for corporate buyers and sellers, TreviPay processes USD 7 billion in transaction volumes across 32 countries, 19 currencies, and 90,000 active buyers. The company enables clients to offer trade credit and is trusted by brands to deliver invoices with net terms and guaranteed payment across all sales and distribution channels.

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Keywords: acquisition, payments , B2B payments, e-invoicing, accounts receivable, accounts payable, Order-to-Cash, expansion, cash flow
Categories: Payments & Commerce
Companies: Apruve, TreviPay
Countries: World
This article is part of category

Payments & Commerce

Apruve

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TreviPay

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