Groningen-based Payt, a leading accounts receivable SaaS platform, announced a €55 million minority investment from Partech, through its growth fund. This strategic partnership will accelerate Payt’s expansion across Europe.
Payt’s powerful, easy-to-use software automates the accounts receivable process, improving collection time, reducing bad debt, and enhancing the debtor experience with transparency and efficient communication. Payt will continue to innovate and expand its offering for its customers, with new payment options and upcoming roll-out of new AI capabilities which will further automate customer communication and payment predictions.
Sander Kamstra, Co-founder and board member of Payt, stated: “Partnering with Partech marks a pivotal moment for Payt. We found excellent synergy with them and are enthusiastic about the opportunity to collaborate with them. Their expertise will be invaluable as we expand our innovative solutions across Europe.”
Since its inception over a decade ago, Payt has emerged as the market leader in accounts receivable SaaS solutions in the Netherlands, serving over 13,000 users with high customer satisfaction. With successful expansions into Belgium, Germany, and the UK, Payt is poised for further growth.
Already a market leader in the Netherlands, Payt has experienced strong international growth in recent years leading the team to look for a partner to fuel its European expansion and expand its capabilities in the ‘Office of the CFO’ software segment. Partech’s experience in scaling high-growth software companies makes them the perfect partner to achieve these ambitions.
Bruno Crémel, General Partner at Partech, added: “Payt’s user-friendly software revolutionizes the accounts receivable process, and we are thrilled to support their growth journey and international expansion.”
Payt has been advised by Emendo Capital (M&A) and DeBreij (Legal), Project Moore (Legal), Sincerius (Finance), and Atlas (Tax). Partech has been advised by Van Lanschot Kempen (M&A), Jones Day (Legal), Code & Co. (Technology & Product), and EY (Finance & Tax).
Read the orginal article: https://www.eu-startups.com/2024/07/dutch-accounts-receivable-saas-payt-raises-e55-million-to-fuel-european-expansion/
