Priority Adds Payroll and Benefit Solutions With Acquisition of Rollfi

Priority Technology Holdings has added new payroll and benefit solutions to its payments and banking solution by acquiring Rollfi.

Rollfi enables banks, accountants, vertical software-as-a-service (SaaS) providers and other financial service providers to add payroll and benefits to their offerings through white-label solutions and application programming interfaces (APIs), the companies said in a Friday (Jan. 24) press release.

“This acquisition unites Priority’s robust financial infrastructure with Rollfi’s innovative payroll and benefits solutions, positioning us to deliver even greater value to our customers by enabling new routes to accelerate their cashflow and optimize their working capital,” Priority CEO Tom Priore said in the release.

Rollfi founder Kirubha Perumalsamy said in a Founder Note posted Thursday (Jan. 23) on Rollfi’s website that, “This isn’t just an acquisition — it is a validation of our vision.”

“Essentially, we now combine the focus, speed and obsession of a startup with the institutional strength of one of the largest payments businesses in the country,” Perumalsamy said.

This news came about 1.5 years after Priority completed its acquisition of bill pay and working capital platform Plastiq.

Priority said in an August 2023 press release that the acquisition of Plastiq would combine the companies’ B2B payment solutions and provide a full suite of working capital solutions that enable businesses of all sizes to optimize their vendor relationships, maximize cash flow flexibility and grow their business.

“Both companies have been focused on building leading B2B payment solutions,” Priore said at the time.

Priority said in November that its B2B business helped it reach record results in the third quarter, with revenues up 20% to reach $227 million and adjusted growth profit up 18.9% to reach $86 million.

The company forecast full-year revenue of between $875 million and $883 million, a growth rate of 16% to 17% compared to its results from fiscal 2023.

“We reported record results in the third quarter as we sustained our positive momentum, delivering consistently strong results in SMB acquiring, B2B payables and enterprise payments,” Priore said Nov. 7 when reporting the company’s quarterly results. “Our continued execution reinforces that Priority’s technology, operations and decision making have positioned us to excel through the remainder of 2024 and beyond.”

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