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Billtrust (US) expands payment empire with iController
Ghent fintech player iController forms the brains behind a kind of digital assistant that helps companies improve their credit management. The Flanders-based start-up firm was acquired by US payment specialist Billtrust for EUR 50 million. Via this acquisition, Billtrust establishes a firm foothold in the European market.
Smart invoice management
iController develops software that estimates whether a company’s customers will be able to pay their invoices on time. The platform also helps them follow up billing and invoicing with customers. The fintech company works with both large multinationals like transport companies H.Essers and BMW, as well as KBC and various SMEs.
“The acquisition of iController helps us grow globally and provide more value to our customers.”
Meredith Simpson, corporate communications officer at Billtrust
Part of an international growth strategy
The rapid growth of iController has not escaped Billtrust's notice. The American group, which like iController is active in credit management and debuted on the Nasdaq stock exchange earlier this year, is now acquiring the Ghent-based fintech player for the equivalent of EUR 50 million.
According to Meredith Simpson, corporate communications officer at Billtrust, “this acquisition fits in with our plan to grow globally, appeal to more types of customers, and offer additional added value to our existing customers.”