Billtrust Set to Become a Publicly Traded company Through Combination With South Mountain Merger Corp

Billtrust, a fintech firm focused on B2B payment cycle management, announced on Monday it has entered into a definitive business combination agreement with South Mountain Merger Corporation. Billtrust reported that the combined company will continue as a publicly listed entity and have an implied estimated enterprise value of approximately $1.3 billion at closing.

Upon closing of this transaction, the Company intends to change its name to BTRS Holdings Inc. and is expected to trade on The Nasdaq Stock Market under a new ticker symbol. Billtrust’s management team led by Flint Lane, Founder and Chief Executive Officer, Steve Pinado, President, and Mark Shifke, Chief Financial Officer, will continue to lead the Company.”

Speaking about the merge, Flint Lane, Founder and CEO of Billtrust, stated:

“Over the last 19 years, we have built comprehensive B2B commerce solutions across the value chain, creating real business outcomes and significant value for our customers, while making it easy for them to get paid. As we begin our journey as a public company, we are thrilled to partner with the South Mountain team and know we will benefit from their extensive industry experience. We believe AR is ripe for innovation, and together we will continue to invest in opportunities to scale the business, growing both organically and inorganically, as we seek to tackle the large total addressable market.”

Chuck Bernicker, CEO of South Mountain, added:

Billtrust’s end-to-end solutions are truly driving the digital transformation of AR and represent the future of B2B payments. I couldn’t be more excited to partner with this visionary team to seek to transform B2B commerce.”

Founded in 2001, Billtrust claims to be the premier provider of Payment Cycle Management, helping businesses accelerate Invoice-to-Cash. The company provides a flexible, automated invoice-to-cash solution that meets diverse buyer requirements and speeds cash application through tailored invoice delivery, secure multi-channel payment enablement, and intelligent matching and payment posting.



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