FinTech sales transactions for SMEs

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Integral service around a transaction
BY : Diego GutiérrezFebruary Fri, 2019

Spain's Besepa, a company that offers solutions to automate banking management for small and large companies, has been sold to Enxendra Technologies. We note that financial technology continues to gain market share and more and more companies are specialising in this sector. To support this assertion, we have conducted an analysis of sale of companies in the global SME FinTech sector.

sales of FinTech companies for SMEs

Operation between Spanish companies Enxendra and Besepa

On 11 January 2019, we learned of the purchase of Besepa by Enxendra Technologies, a company dedicated to the development of document digitisation and certification solutions. The amount of the transaction has not been made public.

Besepa, based in Madrid, is a company that offers solutions for to automate the banking management of businessesby developing automation technology for the three types of SEPA direct debit (B2B, CORE and COR1). Besepa's shareholders included Cabiedes & Partners, which specialises in early stage internet investments, and François Derbaix, co-founder and co-CEO of Indexa Capital.

Enxendra Technologies has carried out the acquisition in order to integrate Besepa and thus improve its product: Docuten. This innovative platform enables electronic invoicing and digital signature to be combined in a single service..

International sales

These are the most relevant and recent operations observed by our experts in Corporate Finance at the international level:

1. Debifo

Founded in 2015 and based in Lithuania, Debifo is a Lithuanian-based an invoice finance platform that enables growing SMEs to borrow from institutional and retail investors. It is growing rapidly, with a 35% market share in the alternative lending space.

Factris, a fintech company that offers factoring to small and medium-sized businesses, announced on 14 January 2019 the full acquisition of Debifo for an undisclosed price.

"Our team is delighted to join Factris. Together we will be able to enhance our financing capabilities, expand the range of services and offer more competitive prices for our customers," commented Justas Šaltinis, CEO of Debifo.

In December 2018, Factris concluded a EUR 100 million credit agreement through Swiss investment advisor Ruvercap. The credit facility will be used to provide working capital to small and medium-sized enterprises across Europe.

2. BluePay

BluePay is a service provider of credit card payment processing with technology for SMEs in the United States and Canada. Through physical POS, online and mobile interfaces, BluePay processes payments and provides real-time settlement, reporting and reconciliation, along with robust security features such as tokenisation and point-to-point encryption. BluePay is headquartered in Naperville, Illinois, with offices in Chicago and New York.

Based on the data published at the end of 2017, BluePay annual turnover is approximately 19 billion dollars for more than 77,000 merchants and is integrated into more than 450 software platforms.

On 1 December 2017, the purchase transaction by First Data Corporation, a company that provides e-commerce and e-payment solutions for merchants, financial institutions and card issuers, on BluePay. The amount of the sale was not disclosed.

3. Satago

Based in London, Satago offers a cash-flow solution that makes it possible for SMEs to pay faster, identify risk and bring forward payment of overdue invoices. It connects to the companies' accounting software and automates the customer search process, helping them to creating automatic invoices, reminders and payment requests. It also has credit information on companies to help educate users about who are "good customers" and who "should be avoided".

On 16 February 2017, it was confirmed by the Oxygen Finance the acquisition of Satago. Oxigen is a California-based company that brings innovation to prepayment solutions, generating a new revenue stream for businesses.

The transaction resulted in the companies working together to offer integrated prepayment, finance and cash flow solutions for large purchasing organisations and suppliers of all sizes, including SMEs.

4. Payable

Founded in 2013 in San Francisco, Payable helps thousands of contractors get paid faster and more efficiently. They are on a mission to get invoicing, job tracking, incorporation and calculation of earnings and taxes to be as simple as possible for contractors and the companies they work with. Its apps are available for iOS, Android and Web.

The company was sold on 26 July 2017 to Stripe, a global technology company that builds affordable infrastructure for the internet. The transaction amounts were not disclosed.

If you are still interested in the FinTechIn this recent entry you can find information about the Goldman Sachs' acquisitions and financing rounds in financial technology companies.

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