FortisPay boosts commerce offering with OmniFund acquisition
US payments technology firm FortisPay has acquired Payments-as-a-Platform provider OmniFund as part of its growth and technology development strategy. Financial terms of the acquisition were not disclosed.
The paytech provider for businesses and independent software vendors (ISVs) says the deal will expand its platform offerings and capabilities, allowing it to pursue new clients and enterprise resource planning (ERP) initiatives.
FortisPay has experienced something of a growth spurt recently, expanding its portfolio of products through acquisitions, extending its market reach into Canada and launching a number of integrated software partnerships.
Founded in 2005, OmniFund provides scalable, cloud-based payments technology to businesses including credit card processing, SMS payment requests, recurring payments, mobile payments and a virtual terminal.
FortisPay CEO Greg Cohen says: “OmniFund has developed a full technology stack with additional commerce enablement features that will make our unified offering unmatched in our target markets.”
OmniFund CEO Stacy Roderick will join the FortisPay leadership team, and her entire team will be integrated into the wider organisation.
Roderick adds: “Joining forces means the software partners and businesses of both entities will benefit from new solutions and innovation.”