Exclusive: Corporate payments company Billtrust is up for sale – sources

The Lawrenceville, New Jersey-based company is working with an investment bank as it explores its alternatives, the sources said. A sale to a private equity firm is one of the options being considered, the sources added.

The sources warned that no deal was certain. They spoke on condition of anonymity to discuss confidential information.

BTRS declined to comment.

Billtrust provides cloud-based software that helps businesses move from paper-based invoicing to an integrated digital payment system. It employs more than 760 people in seven countries, according to its website.

BTRS, with a market value of around $900 million, went public after merging with a special purpose acquisition company in January 2021. Its shares peaked in mid-February 2021 and are down 73% since then, as the tailwind of companies turning to digital payment solutions to navigate the lockdowns of the COVID-19 pandemic has died down.

BTRS hasn’t posted quarterly net profit since going public, which it attributed to continued high investment rates in growing products and services both in the U.S. and abroad. ‘international.

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