Billtrust Enhances Collections Capabilities With $58M iController Buy

Billtrust, the B2B accounts receivable automation and integrated payments company, has said it’s acquired iController, a B2B provider of collection management solutions, for $58 million, according to a press release.

The sale was financed with cash on hand.

“We are pleased to welcome Peter Janssens and the entire iController team to Billtrust,” said Steve Pinado, Billtrust president. “With 566 European customers, iController is a powerful resource for credit and collections professionals and a strong strategic fit for Billtrust, expanding our physical presence in the European market while enhancing our global collections capabilities.”

IController’s team will continue to work from its Ghent, Belgium and Amsterdam offices.

“Acquiring a great company like iController is consistent with our growth plan of strategic global expansion in targeted ways to broaden our customer footprint and provide extended value to our current customers,” said Flint Lane, Billtrust Founder & CEO.

Meanwhile, Billtrust president Steve Pinado said iController’s 566 European customers would make it a “powerful resource” for professionals in credit and collections.

He added that Billtrust was looking to expand its presence in the European market and also boost its global collections capabilities.

Meanwhile, iController founder and CEO Peter Janssens said the new partnership will help “more rapidly scale our business and increase the level of resources we can deploy to better serve our growing customer base.”

Billtrust, which released its first quarterly and yearly earnings as a public company last March, has seen growth continuing.

Founder and CEO of Billtrust Flint Lane, per the PYMNTS report, said Billtrust’s results included higher expectations for the full year 2021. That comes from the company’s varied approach to B2B payments digitization, which includes lessening the friction to accept electronic payments.

Read more: Billtrust Raises 2021 Guidance As B2B Payments Digitization Accelerates

Lane said having access to ACH and card acceptance could help drive suppliers away from paper. He said there were other ways, though, including the company’s Managed eSolutions program, which helps customers find the best ways to adopt ePayments.