The SPAC merger saw South Mountain Merger changing its name to BTRS Holdings once the deal closed. It’s also resulted in shares of SMMC stock changing over to the BTRS stock ticker this morning.
Here’s everything potential investors in BTRS stock need to know about Billtrust now that the SPAC merger is complete.
- The company’s focus is on providing software and integrated payment processing solutions for business-to-business commerce.
- This has it shifting customers away from the traditional accounts receivable processes, which rely heavily on paper.
- Instead, its own cloud solution is designed to make it easier for businesses to work with each other.
- Billtrust’s software covers several categories, such as “credit decisioning and monitoring, online ordering, invoice delivery, payments and remittance capture, cash application and collections.”
- Its partners include Microsoft (NASDAQ:MSFT), Oracle (NYSE:ORCL), Credit Research Foundation, and several other large companies.
- The company is lead by CEO Flint Lane, who also founded the company back in 2001.
- Its headquarters is located in Lawrenceville, N.J.
- In 2019, the company handled more than $30 billion in ACH and card payments.
- It’s also sporting a customer retention rate of 98%.
- Billtrust currently employs a total of 565 employees across 22 states.
- Prior to its SPAC merger, the company raised a total of $115 million over seven rounds of funding.
BTRS stock was down .3% as of Wednesday morning.
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article.