Billtrust, a provider in payment cycle management, received $50 million in funding by Riverwood Capital Management. Billtrust will use the investment to strategically grow into adjacent markets, continue to innovate the products and services available in their payment cycle management solution and expand their global footprint. With this funding, Mr. Alvarez-Demalde from Riverwood Capital Management will join the Billtrust board of directors.
Founded in 2001, Billtrust is a provider of payment cycle management, helping clients automate and accelerate their accounts receivable (AR) processes to increase cash flow, improve operational efficiency and increase customer satisfaction.
Flint Lane, CEO and founder of Billtrust:
“Billtrust’s mission is to not only accelerate, but to help clients grow cash flow. Our Quantum Payment Cycle Management solution is unique in the market because it seamlessly automates what is a traditionally labor intensive, manual process for AR teams. With this new investment, we will look for growth opportunities in current and adjacent markets, continue innovating our Quantum solution to meet expanding client needs, such as credit and collections support, and broaden our reach in international markets.”
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