GRONINGEN, July 25, 2024 – Payt, a leading SaaS platform for accounts receivable management, proudly announces that Partech has made a minority investment of €55 million through their growth fund. This strategic collaboration will accelerate Payt’s expansion in Europe.
Market Leadership and Growth
Since its founding over ten years ago, Payt has grown to become the market leader in SaaS solutions for accounts receivable management in the Netherlands. Payt’s software automates invoice processing and ensures that organizations get paid better and more efficiently. The platform now has more than 13,000 satisfied users. After previous successful expansions into Belgium, Germany, and the United Kingdom, Payt is ready for further growth in Europe.
Strategic Partnership
Payt, active in the ‘Office of the CFO’ software segment, has experienced strong international growth in recent years. To accelerate this growth, a strategic partner was sought. Partech’s experience in scaling fast-growing software companies makes Partech the perfect partner to realize these ambitions.
Sander Kamstra, co-founder and board member of Payt: “The collaboration with Partech marks a crucial moment for Payt. We have found an excellent synergy with them and are excited about the opportunity to work with Partech. “Partech’s expertise will be invaluable in expanding our innovative solutions across Europe.”
Bruno Crémel, General Partner at Partech, added: “Payt’s user-friendly software is revolutionizing the accounts receivable management process, and we are delighted to support Payt’s growth trajectory and international expansion.”
Vision and Future Plans
Payt’s powerful, user-friendly software automates the accounts receivable management process. This results in shorter payment terms, significant time savings, a reduction in doubtful accounts, and an improvement in the payment experience of debtors through transparent and effective communication. Payt will continue to innovate and continuously expand its offerings for customers, including adding new payment options and implementing artificial intelligence solutions that will further automate customer communication and payment predictions.
Advisors
Payt was advised by Emendo Capital (M&A), DeBreij (Legal), Project Moore (Legal), Sincerius (Financial), and Atlas (Tax). Partech was advised by Van Lanschot Kempen (M&A), Jones Day (Legal), Code & Co. (Technology & Product), and EY (Financial & Tax).
About Payt
Founded in 2012, Payt is a leading SaaS platform for accounts receivable management headquartered in the Netherlands. The platform is highly configurable and integrates with more than 600 accounting and industry-specific systems, ensuring a strong international product-market fit. Since its inception, Payt has grown to become a market leader, supporting more than 4,000 administrations in accounts receivable management in the Netherlands, Belgium, the United Kingdom, and Germany.
Quooker: “When we went live with Payt and sent out all outstanding reminders, the money literally started flowing in. Additionally, Payt has helped us fine-tune things internally, as the software takes a lot of work off our hands.”
Co-founders and board members of Payt from left to right: Sander Kamstra, Jelger Gustafsson, Aziz Al-Harazi, Rob Rustenburg.
About Partech
Partech is a global technology investment firm headquartered in Paris with offices in Berlin, Dakar, Dubai, Nairobi, and San Francisco. Partech combines capital, operational experience, and strategic support to assist entrepreneurs at every stage. Founded in San Francisco 40 years ago, Partech today manages €2.5 billion AUM with a current portfolio of 220 companies spread across 40 countries and 4 continents. The investment in Payt is Partech’s third growth fund investment in the Netherlands, following previous investments in Amsterdam-based Studocu and Utrecht-based Channable.
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Dutch press articles:
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