BTRS Holdings, the parent firm of B2B order-to-cash solutions provider Billtrust, is considering options for the payment firm, reported Reuters citing people familiar with the matter.

The New Jersey-based company is examining a sale to a private equity firm as one of the options. The firm is already working with an investment bank to identify the best option for the unit.

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The sources, whose identities were not disclosed as they were discussing confidential information, added that no deal was certain.

BTRS did not comment on the news.

Billtrust offers cloud-based software and integrated payment processing solutions that enable businesses to move away from paper invoicing and automate B2B commerce.

According to its website, the firm currently employs more than 763 across seven countries.

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Last year, US-based vertically-integrated payment solutions provider Repay integrated its technology with Billtrust to boost B2B payment offerings.

In 2018, the firm teamed up with Visa to launch the Business Payments Network, a solution that streamlines B2B payments by creating a directory of suppliers accepting electronic payments.

BTRS become a publicly traded business after merging with a special purpose acquisition company in January 2021.

Since then, the company has not posted a quarterly net profit. It cites high rates of investment in growing products and services, both in the US and internationally, as the reason for losses.

Last month, a report by Bloomberg said that integrated payments and commerce solution provider Paya was exploring sale options after receiving takeover interest from large, publicly-traded payments companies.

Paya helps insurers, nonprofits, utilities, and other customers collect payments and process checks.