B2B payments firm TreviPay has acquired technology firm Baton Financial Services, which specialises in business-to-business (B2B) invoice payments.
The deal, whose financial terms were not revealed, forms part of TreviPay’s continuing global expansion and accelerates its technical resources to support the B2B payment space.
Baton’s B2B invoice payments network delivers structured financial services in partnership with financial institutions.
With the acquisition, TreviPay aims to scale up its support for small businesses suppliers to offer trade credit to their customers while eliminating risk, delay and complexities linked to managing accounts receivable.
At a time when small businesses are challenged by liquidity, the ability to provide trade credit helps them free up cash flow and drive customer loyalty, the company noted.
TreviPay CEO Brandon Spear said: “Baton’s extensive track record in revolutionising financial services for small businesses made the company a natural, strategic fit for TreviPay.
“By joining forces, TreviPay will grow its trade credit solutions to help expand the selling power and global commerce capabilities of small businesses lacking traditional financing support.”
As part of the deal, Baton CEO Rissi Lovern has assumed the role of chief risk officer at TreviPay.
Lovern said: “A business’s best source of capital is often hidden in its balance sheet, in accounts receivable.
“TreviPay’s acquisition of Baton enables us to take our solution directly to small businesses, in addition to financial institutions, to unlock this capital. Together, we will be able to provide a trade credit solution to support this underserved market.”
In April last year, commerce-as-a-service solutions provider Digital River tapped TreviPay to expand payment options for B2B clients.