VersaPay Corporation
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VersaPay Corporation - overview
Established
2006
Location
Toronto, ON, Canada
Primary Industry
Financial Services
About
VersaPay Corporation provides automated accounts receivable solutions designed to enhance cash flow for businesses. Their technology streamlines the invoice-to-cash process through various innovative tools. Founded in 2006 by Kevin Short in Toronto, Canada, VersaPay Corporation specializes in accounts receivable automation. The company transitioned from a public to private entity in December 2019 when Great Hill Partners acquired it for CAD 126 million.
The acquisition was aimed at enabling the company to focus strategically on long-term growth. VersaPay offers a suite of automated accounts receivable solutions aimed at improving the invoice-to-cash process. Their core products include an electronic invoice presentment and payment solution, AI-powered cash application technology, and a digital customer portal. The company serves diverse industries like real estate, logistics, and finance, catering to clients such as Tirehub and Boston Properties.
In 2018, VersaPay reported revenue of CAD 3,628,400 and an EBITDA loss of CAD 9,804,400. The company generates revenue through subscription pricing models and transaction fees, with a focus on B2B interactions for enhancing accounts receivable processes. Following its recent acquisition on December 13, 2019, VersaPay Corporation plans to leverage the investment from Great Hill Partners to strategically enhance its product offerings and expand into new geographic markets. The company aims to introduce new products and broaden its operations across North America, specifically targeting significant growth in the United States and Canada.
Current Investors
Great Hill Partners
Primary Industry
Financial Services
Sub Industries
e-Financial, Accounting/Finance Software, Systems Management Software
Website
www.versapay.com
Verticals
Cloud Computing, FinTech
Company Stage
Public To Private
Total Amount Raised
Subscriber access only
VersaPay Corporation - deals
| Deals Type | Deal Status | Target (s) | Deal Date | Investor(s) | Seller(s) | Deal size (Mn) | Enterprise value (Mn) | Post-money valuation (Mn) | EBITDA multiple (x) | Revenue multiple (x) | Lead partner (s) |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Add-on, Trade Sale | Completed | DadeSystems, Inc. | - | ||||||||
| Public to Private | Completed | VersaPay Corporation | - | ||||||||
| Add-on | Completed | VersaPay Corp’s merchant portfolio | - |
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