TreviPay, a key player focused on global B2B payments and invoicing solutions, announced the signing of a definitive agreement to acquire payment platform Apruve.
Apruve offers “a robust suite of payment solutions for global enterprises that will complement and expand on TreviPay’s existing order-to-cash technology offerings, merchant invoicing solutions, and the geographical reach of TreviPay’s existing B2B networks.”
TreviPay has experienced steady demand “from global enterprise buyers and sellers resulting in 30% organic growth in 2022, and this acquisition furthers TreviPay’s plans to expand its order-to-cash technology offerings and B2B payment network.”
This acquisition “builds on TreviPay’s recent purchase of Baton Financial Services.”
Brandon Spear, CEO of TreviPay, said:
“TreviPay provides payment and invoicing solutions for a number of leading manufacturers and OEMs; the acquisition of Apruve will accelerate our advancement in the technology manufacturing vertical and expand our geographic reach into key Asian markets. In Apruve, we have found a team that approaches the market in a likeminded way and shares our vision of simplifying the way B2B suppliers get paid. We anticipate a seamless transition as Apruve brings their customers to TreviPay, and as we continue to provide innovative ways for B2B customers to buy more with invoice-based purchasing.”
TreviPay reportedly “offers tailored payments and invoicing networks responding to the needs of businesses of all sizes.”
The TreviPay networks “automate the order-to-cash process with omni-channel checkout options, localized B2B invoicing engineered for global expansion, managed receivables and fraud and risk management.”
TreviPay, “which boasts 90,000 buyers and 80,000 seller locations globally, empowers merchants and suppliers to create more profitable and loyal trading relationships.”
Michael Noble, CEO of Apruve, remarked:
“We are thrilled to join TreviPay, a global leader in optimizing order-to-cash processes. Our teams have tremendous synergies and will more efficiently go to market together in the technology manufacturing vertical.”
All Apruve personnel will be “retained and Apruve clients can expect uninterrupted service from the same teams.”
The financial terms of the transaction “will remain confidential.”
Spear commented:
“Looking ahead, I am energized by the opportunities for TreviPay to continue solving challenges in B2B invoicing and payments in a number of industries. Following a global digital transformation trend that was accelerated by the pandemic, B2B industries are focusing attention on how money flows in the B2B ecosystem. We are helping B2B merchants in manufacturing and many other industries to digitize the more complex payments and invoicing processes for their business buyers.”