TreviPay, a payment and credit management firm for B2Bs, has snapped up fellow PayTech Baton Financial Services for an undisclosed fee.
Kansas-based TreviPay claims it has facilitated $6bn in transactions per year in 18 currencies for customers in more than 27 countries. The company rebranded as TreviPay from MSTS last year and has been on the market for over 40 years.
Founded in 2017, Baton is based in New Orleans and has developed a proprietary technology platform and B2B invoice payment network.
TreviPay CEO Brandon Spear said, “ Baton’s extensive track record in revolutionising financial services for small businesses made the company a natural, strategic fit for 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.”
Baton former CEO and now CRO of Baton Rissi Lovern added that while small companies need capital to help them recover from the pandemic, traditional loans and financing are not readily available for them.
Rissi Lovern, former CEO and founder of Baton and now chief risk officer of TreviPay, notes that whilst small businesses need capital to help them recover from the pandemic, traditional loans and financing are not readily available for them.
She added, “A business’ 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.”