Billtrust, a company that provides outsourced billing services, has closed on a $25 million funding round from private equity firm Bain Capital Ventures.

Hamilton, N.J.-based Billtrust plans to use the funding to acquire companies that will strengthen its position in the billing and payments industry.

Raymond James & Associates (NYSE: RJF) advised Billtrust for the financing.

Bain Capital, headquartered in Boston, has also invested in ScaleBase, 4Moms and Stackdriver.

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