TreviPay, a global financial technology company, has acquired Baton Financial Services, a technology company that has built a B2B invoice payments network. To meet the trade credit needs of small businesses, Baton’s payments network has enabled the delivery of structured financial services in partnership with financial institutions. This acquisition is part of TreviPay’s ongoing, global expansion plan to make B2B payments faster and more flexible for its clients, the company said.
It also allows TreviPay to further expand its support for small businesses suppliers to offer trade credit to their customers without the risk, delay in payments and complexities associated with managing accounts receivable. As liquidity continues to be a challenge for small businesses, the ability to extend trade credit helps free up cash flow while building customer loyalty and maintaining a competitive B2B market share.
“Baton’s extensive track record in revolutionizing financial services for small businesses made the company a natural, strategic fit for TreviPay,” said Brandon Spear, CEO of TreviPay. “By joining forces, TreviPay will grow its trade credit solutions to help expand the selling power and global commerce capabilities of small businesses lacking traditional financing support.”
“As small businesses emerge from the pandemic, they will need capital to carry them forward. Unfortunately, traditional loans and financing are not readily available,” said Rissi Lovern, former CEO of Baton, now chief risk officer of TreviPay. “A business’s best source of capital is often hidden in its balance sheet, in accounts receivable. TreviPay’s acquisition of Baton enables us to take our solution directly to small businesses, in addition to financial institutions, to unlock this capital. Together, we will be able to provide a trade credit solution to support this underserved market.”
The announcement follows TreviPay’s naming of Jeff Coppolo as Chief Revenue Officer and Lovern as Chief Risk Officer this past December.