Fortis Payment Systems, LLC, a payment tech provider for businesses, independent software vendors (ISVs) and developers, reveals that it has acquired OmniFund, whose Cloud-powered Payments-as-a-Platform service is being leveraged by software and enterprise resource planning ERP solutions.
Established in 2005, Omni is focused on offering various commerce solutions for their software partners and business customers. The acquisition should allow FortisPay to further expand its existing platform of offerings and capabilities. It should also help with pursuing new accounts receivable and ERP projects. The financial terms of the deal have not been shared publicly.
Greg Cohen, CEO at FortisPay, stated:
“This represents an exciting expansion of our platform. OmniFund has developed a full technology stack with additional commerce enablement features that will make our unified offering unmatched in our target markets. The addition of Stacy and her team to our family is exciting as they share our passion for making software partners better through technology and amazing experiences.”
Stacy Roderick, CEO of OmniFund, will be joining the FortisPay professional team and her entire team will keep on working as they had been, but now they’ll be integrated into the larger organization.
Roderick remarked:
“We are excited to join FortisPay during a time when the company is rapidly expanding. FortisPay offers the market a truly modern, fully integrated commerce and payment facilitation experience, and OmniFund’s customized technology will further enhance their platform. Joining forces means the software partners and businesses of both entities will benefit from new solutions and innovation.”
FortisPay has been expanding its line of products and its market reach. During the past few months, the company has acquired payment facilitation and new vertical capabilities. It has also expanded operations into Canada and established several integrated software partnerships.
Technology is vital when it comes to scaling operations and the FortisPay platform remains focused on supporting innovation and investment.
OmniFund aims to provide scalable, Cloud-powered payments tech to companies in various sectors. The Payments-as-a-Platform service provides credit-card processing, SMS payment requests, recurring payments, mobile payments, and a virtual terminal. The firm has entered partnerships with several software firms, with a special focus on finance and healthcare.