Payt accelerates European expansion with strategic investment of € 55m from Partech
Transaction summary
GRONINGEN, July 25, 2024 – Payt, a leading accounts receivable SaaS platform, is thrilled to announce a minority investment from Partech, through its growth fund. Partech will invest € 55m in Payt. This strategic partnership will accelerate Payt's expansion 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.
Sander Kamstra, CO-founder and board member, 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."
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'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.
Press release: Payt and Partech
Emendo Capital acted as financial adviser to the shareholders of Payt.
About Payt
Founded in 2012, Payt is a leading accounts receivable SaaS platform headquartered in the Netherlands. The platform is highly configurable, with integrations to the vast majority of ERP and bookkeeping systems, creating a compelling international product-market fit. Consequently, since its inception, Payt has evolved into a national champion, serving over 4,000 loyal and diversified clients across the Netherlands, Belgium, UK and Germany.
Quooker (client Payt): “Since we started working with Payt, thousands of reminders have already been sent of which over 80% were subsequently paid by our customers. Also, Payt has allowed us to fine-tune things internally, as Payt takes a lot of the work off our hands.”
For additional information on Payt, visit https://www.paytsoftware.com/
About Partech
Partech is a global tech investment firm headquartered in Paris, with offices in Berlin, Dakar, Dubai, Nairobi, and San Francisco. Partech brings together capital, operational experience, and strategic support to back entrepreneurs from seed to growth stage. Born in San Francisco 40 years ago, today Partech manages € 2.5bn AUM and a current portfolio of 220 companies, spread across 40 countries and 4 continents. This is Partech’s growth strategy’s third investment in the Netherlands, also including Amsterdam based Studocu and Utrecht based Channable.
For additional information on Partech, visit https://partechpartners.com/