Payments Firm Stax Launches New Billing SaaS Arm

Payments services provider Stax has announced the launch of Stax Bill, a re-branding of a company called Fusebill that Stax acquired in March 2021.

Stax Bill, like Fusebill, offers automated billing software as a service, or SaaS, to purveyors and other subscription businesses, according to a Tuesday (Sept. 13) press release.

“This move will make it easier for finance teams to leverage multiple Stax solutions within its one, easy-to-use platform,” the Orlando, Florida-based firm said in the press release.

“As businesses grow, it’s important that their billing tools are able to scale alongside them to streamline the invoicing process and empower finance teams to work smarter, not harder,” Stax Bill General Manager TJ Carlson said in the release. “Not only does Stax Bill automate billing at scale, but it empowers enterprise organizations to maximize subscription growth, creating more reliable and predictable revenue — something that’s even more valuable in our current economic climate.”

The company’s goal is to provide a “seamless end-to-end payments experience for SaaS businesses (and) a big part of that for many of them is having automated billing and payments to offer a more seamless cash flow,” Stax Co-founder and President Sal Rehemetullah said in the release.

Stax was previously called Fattmerchant.

According to the company, it has more than 22,000 customers and has handled more than $10 billion in transactions.

PYMNTS reported in March that Stax had achieved unicorn status — a valuation of at least $1 billion — following a $245 million fundraising round. Investors in that round included Greater Sum Ventures, HarbourVest Partners and Blue Star Innovation Partners.

Rehemetullah and Co-founder Suneera Mudhani are brother and sister, PYMNTS reported.

Achieving unicorn status was especially noteworthy for Stax, PYMNTS reported, because few venture capital investments go to women-owned companies or minority-owned companies, and Stax is both.