Repay Holdings Corp. (NASDAQ: RPAY), a provider of vertically-integrated payment services, has acquired Payix for $115 million.
Payix is a omni-channel payment technology platform that provides services to facilitate payments, data exchange, customer communication, and collection efforts in loan repayment verticals. The firm’s software supports a range of payment options and integrates into LMS and DMS systems through its SaaS approach.
The deal will enhance Repay’s position in the automotive vertical and will advance its expansion into the buy now, pay later segment. Additionally, the deal brings a proprietary software platform for payment options.
“We are thrilled about the acquisition of Payix, a highly complementary business to Repay,” said John Morris, CEO of REPAY. “With its robust and highly flexible technology platform, Payix creates a uniquely positive experience and adds value for both the lender and borrower. Payix also has a strong pipeline and product roadmap, positioning it well for 2022 and beyond. We look forward to welcoming the Payix team into the REPAY family.”
Troutman Pepper served as legal advisor to Repay. Capstone Partners served as exclusive financial advisor and Gunderson Dettmer served as legal advisor to Payix.