TreviPay to acquire fellow US paytech Apruve for undisclosed sum
TreviPay, a US-based B2B payments and invoicing solutions provider, is set to acquire payments platform Apruve for an undisclosed amount.
The firm says Apruve’s payment solutions will “complement and expand” on its existing order-to-cash technology offerings and merchant invoicing solutions and will help the company grow its B2B payments network.
Headquartered in Minneapolis and founded in 2013, Apruve helps streamline B2B invoicing by combining embedded trade credit and accounts receivables automation with next-day financing. It claims its tech can help B2B suppliers in local or international markets reduce fixed costs in accounts receivables by over 50%.
Brandon Spear, CEO of TreviPay, says in Apruve, the company has found a “likeminded” partner with a shared vision of “simplifying the way B2B suppliers get paid”.
“The acquisition of Apruve will accelerate our advancement in the technology manufacturing vertical and expand our geographic reach into key Asian markets,” Spear adds. “We anticipate a seamless transition as Apruve brings their customers to TreviPay.”
All of Apruve’s employees will be retained, while Apruve’s clients can expect “uninterrupted service” from the same teams, TreviPay says.
Kansas-based TreviPay has over 40 years of experience in the payments industry. It operates a global B2B payments and invoicing network for corporate buyers and sellers and claims to have experienced 30% organic growth in 2022.
The latest acquisition follows TreviPay’s purchase of Baton Financial Services in February this year.