SaaS Payt receives €55M from Partech for European expansion
Summary
Financial SaaS Payt has announced a minority investment from Partech, through its growth fund. Described as a strategic partnership, the investment will accelerate Payts expansion across Europe following previous expansions into Belgium, Germany, and the UK.Payts software automates the accounts receivable process, improving collection time, reducing bad debt, and enhancing the debtor experience with transparency and efficient communication. Payt will expand its offering for customers, with new payment options and upcoming roll-out of new AI capabilities which will further automate customer communication and payment predictions.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. "Bruno Cr\xe9mel, General Partner at Partech, added, "Payts user-friendly software revolutionizes the accounts receivable process, and we are thrilled to support their growth journey and international expansion. "Born in San Francisco 40 years ago, today Partech manages 2.5B AUM and a current portfolio of 220 companies, spread across 40 countries and 4 continents.