# Billtrust

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/billtrust

- Industry: Software
- Headquarters: Lawrenceville, US
- Website: www.billtrust.com
- Total disclosed funding: $79M
- Latest round: Series E (May 22, 2017)
- Investors on record: 3

## About

Billtrust Inc is a US-based financial technology company that specializes in automating accounts receivable (AR) processes for businesses, enhancing cash flow and operational efficiency through its innovative platform.Founded in 2001 in Lawrenceville, US, Billtrust Inc provides a robust accounts receivable platform that streamlines the order-to-cash process. The company was co-founded by Armando Couto, Bruno Becco, and Flint Lane, who has a history of entrepreneurial ventures in financial technology. In September 2022, EQT acquired Billtrust Inc from W Capital Partners for approximately USD 1.7 billion in a public-to-private transaction, marking its transition to private ownership. The company has successfully completed 7 funding deals, with the latest round significantly enhancing its financial capacity.Billtrust's primary offering is its unified accounts receivable (AR) platform, leveraging artificial intelligence to automate the entire order-to-cash process. This platform integrates invoicing, payment processing, cash application, and collections, which aids businesses in managing their AR operations efficiently. It serves a diverse range of clients, including over 2,400 companies worldwide across various sectors such as manufacturing, retail, healthcare, and construction, providing tailored solutions to meet unique operational needs.For the most recent fiscal year, 2021, Billtrust reported a revenue of USD 166.41 mn and an EBITDA of USD -43.50 mn. The company operates on a subscription-based model where clients access its AR platform and tools, benefiting from improved cash flow and operational efficiency through automated processes.Following its acquisition by EQT in September 2022, Billtrust plans to utilize the significant resources and flexibility gained to strengthen its market position. The company is expected to invest in the development of new products and enhancements to its existing platform. Moreover, Billtrust aims to expand its presence in international markets, particularly in Europe and Asia, to capture a broader client base by 2025. This strategic focus on innovation and market expansion reflects its commitment to enhancing financial operations for businesses globally.

## Funding rounds

- Series E, May 22, 2017, $50M — Riverwood Capital
- Series B, Nov 9, 2012, $25M — Edison Partners, Bain Capital
- Series A, Oct 11, 2006, $4.3M — Edison Partners

## Investors

- Edison Partners (https://capitalatlas.ai/funds/edison-partners) — Series A, Series B
- Bain Capital (https://capitalatlas.ai/funds/bain-capital) — Series B
- Riverwood Capital (https://capitalatlas.ai/funds/riverwood-capital) — Series E