TreviPay Buying Apruve to Expand into New Verticals and Markets

TreviPay is acquiring Apruve to expand its reach into new industry verticals and geographic markets.

The provider of B2B payments and invoicing solutions has signed a definitive agreement to acquire Apruve, a payment platform, the companies said in a Thursday (Dec. 8) press release.

The acquisition will add Apruve’s suite of payment solutions for global enterprises to TreviPay’s order-to-cash technology offerings and merchant invoicing solutions. It will also expand the geographic reach of TreviPay’s B2B networks, according to the release.

“TreviPay provides payment and invoicing solutions for a number of leading manufacturers and OEMs [original equipment manufacturers]; the acquisition of Apruve will accelerate our advancement in the technology manufacturing vertical and expand our geographic reach into key Asian markets,” TreviPay CEO Brandon Spear said in the release.

The TreviPay networks include omnichannel checkout options, localized B2B invoicing, managed receivables and fraud and risk management. They are used by 90,000 buyers and 80,000 seller locations around the world, according to the press release.

With the acquisition, all Apruve personnel will be retained and the same teams will serve the existing Apruve clients, the release said.

“We are thrilled to join TreviPay, a global leader in optimizing order-to-cash processes,” Apruve CEO Michael Noble said in the release. “Our teams have tremendous synergies and will more efficiently go to market together in the technology manufacturing vertical.”

As an increasing amount of commerce moves online, all suppliers want to serve as many buyers as they can. At the same time, these suppliers want assurance they can be paid in a timely fashion, Spear told PYMNTS’ Karen Webster in an interview posted Aug. 1. The TreviPay Network is geared to midmarket companies that need to offer trade credit and invoicing but do not require a branded solution.

Spear said that platforms, and directories created from the data moving across those platforms, can create B2B ecosystems and cement trust between firms.