B2B accounts receivable (AR) automation and integrated payments company Billtrust has acquired Netherlands-based B2B financial software platform Order2Cash, giving the company a stronger global presence and ability to expand its Business Payment Network (BPN), according to a on Tuesday (Feb. 15) press release. Terms of the deal were not disclosed.
This is Billtrust’s second acquisition within six months, following an October deal to add iController, the release stated.
Read more: Billtrust Enhances Collections Capabilities With $58M iController Buy
“Order2Cash’s enterprise customer base, global interoperability capabilities and established connections to over 70 B2B and [business-to-government (B2G)] eInvoicing networks will broaden BPN’s reach to deliver fully compliant and secure eInvoicing across multiple markets,” according to the release.
“This strategic acquisition aligns perfectly with our growth plan of expanding globally with companies that offer complementary expertise, shared values and local market presence,” said Billtrust President Steve Pinado in the release. “Our EU team now exceeds 100 members, serving more than 700 customers, and is accelerating our global expansion.”
BPN delivers invoices to more than 170 accounts payable (AP) portals across an open network that supports buyers and suppliers and allows both AP and AR platforms to exchange invoices, payments and remittance data.
“Billtrust brings us an exciting opportunity to leverage our joint commercial and industry experience and offer all customers greater access to a global marketplace,” said Order2Cash CEO Frank Hoekstra in the release. “Our coming together ensures that we can continue to provide the speed and quality of service needed to operate in today’s digital landscape.”
As part of the acquisition, Order2Cash will continue to operate from its Netherlands locations in Amsterdam and Joure, and offices in Krakow, Poland, and New York City.
Last month, Billtrust announced it surpassed $1 billion in supplier invoices delivered to AP portals in 2021, saying it was the company’s largest single-year total and a 58% increase over 2020.
See more: B2B Payments Company Billtrust Tops $1B in Invoices
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