Today in B2B payments, FLEETCOR adds Accrualify to continue diversifying its portfolio, as the digital B2B payments shift comes to Wall Street with the Plastiq SPAC deal with Colonnade Acquisition Corp. II. Additionally, consumer convenience comes to B2B payments with the addition of integrated finance, and CFOs are keeping lines of communication open and financial oversight tight this year.
Plastiq’s SPAC deal brings SME digital B2B payments shift to Wall Street
Plastiq, the B2B payment platform focused on small and medium-sized enterprises (SMEs), said it has reached a merger agreement with Colonnade Acquisition Corp. II, then list its shares, according to a company press release on Thursday, Aug. 4. ).
Implied estimated enterprise value of approximately $480 million at closing, which equates to 6.4 times projected net revenue of $75 million and approximately 4.6 times projected $100 million in sales for the next year.
A projected 33% increase in revenue, even in a volatile macro environment, is not to be taken lightly; beyond that metric, the release noted that there is a $9 trillion addressable market opportunity in the United States alone. The change, of course, is one that moves SMBs towards payment platforms and away from paper checks and invoices and can also help reduce the fees that come with the transactions themselves. Choosing payments between wire, ACH, and bank transfers can help unlock the trillions of dollars that are frozen in accounts receivable on any given day.
Voice of the CFO: CFOs keep communication open and oversight tight in 2022
For a leveraged finance company that must react to many pushes and pulls in the market, awareness, readiness and measurability are key capabilities. Kafene is a payment partner and one-stop point-of-sale (POS) subscription technology platform that helps merchants offer flexible lease-to-own (LTO) purchases.
Roland Jeon joined the 3-year-old company in May with a background that includes a decade of experience as a flexible capital investor. As Kafene’s Chief Financial Officer (CFO), Jeon is responsible for setting the strategic direction of the company’s finance organization as the business evolves.
Interviewed for the PYMNTS series “A day in the life of a digital-first CFO”, Jeon said many of Kafene’s clients are near-prime or sub-prime consumers who don’t have access to consumer loans. conventional, or even buy now, pay later (BNPL). The company has grown in this sector and is also exploring other vertical markets.
Enterprise payments company FLEETCOR acquires software company AP Accrualify
FLEETCOR, a global commercial payments company, announced Wednesday (August 3rd) that it has acquired accounts payable (AP) automation software company Accrualify. This will help FLEETCOR’s payment solutions portfolio and enhance the capabilities of its enterprise payment platform, according to the company’s press release.
Accrualify automates procure-to-pay processes for businesses, and the cloud-based software offers midsize businesses end-to-end procurement, billing process automation, and payment execution.
FLEETCOR has made other acquisitions, having bought airline software company Levarti in March. Levarti automates passenger notifications, new flight bookings, hotel rooms, transfers and vouchers. Levarti launched its MAX software suite in 2014, with several airlines using it to digitize operations and communications. Its MAX app offers end-to-end digital experiences around check-in, in-flight services and baggage claim.
Integrated Finance Brings Consumer Convenience to B2B Payments
Driven by changing customer preferences, a growing number of businesses are adopting integrated financing solutions in both their business-to-business (B2B) and consumer-facing payment verticals.
In fact, embedded finance is already becoming the next step in B2B payments, according to the Embedded Finance Tracker, a collaboration between PYMNTS and Galileo Financial Technologies.
The report cites a survey which found that more than 80% of banks offer their customers the option of using their own enterprise resource planning (ERP) systems to access accounts and make payments to suppliers or vendors. – or plan to offer it. The next generation of this development could see banks using application programming interfaces (APIs) to integrate more services into supply chain finance and other systems.
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