News & Insights · Approx. 3 minute read
TreviPay Announces Acquisition of BATON Financial Services, Inc.
Acquisition aims to bring the new Small Business Supplier Payments Network to the banking market providing financial institutions an innovative financial service to meet the distinctive needs of these customers
OVERLAND PARK, Kan. —TreviPay, a global financial technology company, today announced its acquisition of BATON Financial Services, Inc. (“Baton”), a technology company, which has built a unique, innovative B2B invoice payments network. To better serve small business suppliers challenged by the continued need to extend trade credit to their business customers, Baton’s payments network has enabled the seamless delivery of structured financial services in partnership with financial institutions. This successful acquisition is part of TreviPay’s ongoing, global expansion plan to revolutionize B2B payments for both the seller and the business buyer.
TreviPay, which has a long and successful history of offering B2B trade credit, billing and payment solutions, will now be able to further expand its support for small business suppliers who offer, or want to offer, trade credit to their customers without the risk of late or non-payment and without the complexities associated with managing accounts receivable. As liquidity continues to be a challenge for small businesses, the ability to extend trade credit without tapping their own working capital or incurring debt, improves their ability to build customer loyalty, compete in the B2B market and grow their business.
“Baton’s extensive track record in revolutionizing financial services for small businesses made the company a natural, strategic fit for TreviPay”
“Baton’s extensive track record in revolutionizing financial services for small businesses made the company a natural, strategic fit for TreviPay,” said Brandon Spear, CEO of TreviPay. “By joining forces, TreviPay will grow its B2B payment network solutions to help expand the selling power and global commerce capabilities of small businesses in unprecedented ways.”
Baton brings vast industry knowledge and experience in guiding small businesses through sustainable lending and the associated risk management. The acquisition of Baton further cements TreviPay’s global position and accelerates its technical resources to support this key segment of the economy.
“TreviPay’s proven track record in B2B payments innovation will accelerate the delivery of our Small Business Supplier Payments network to the banking market,” said Rissi Lovern, Former CEO of Baton, now Chief Risk Officer of TreviPay. “Small business was still battling an elusive recovery from the Great Recession when COVID hit. While these times of economic distress place pressure on the already limited working capital of small businesses, the liquidity challenges faced by small business suppliers are unparalleled. The need to extend credit has always been an inefficient use of working capital, creating an impediment to growth and resiliency. Emerging from the pandemic, the timing of this acquisition could not be better. With TreviPay and partner financial institutions, we are better positioned to change the trade credit market paradigm.”
The announcement follows on the heels of TreviPay’s executive leadership expansion welcoming Jeff Coppolo as Chief Revenue Officer and Rissi Lovern as Chief Risk Officer and Global Head of Small Business Markets in December 2021 who will help grow this sector for TreviPay.
TreviPay is a global financial technology company specializing in payment and credit management for B2B companies through custom omni-channel payments solutions. We support merchants by streamlining the purchasing experience and supporting increased customer interaction in B2B Commerce, facilitating $6 billion USD in transactions per year in 18 currencies for customers in more than 27 countries. To learn more about TreviPay, please visit TreviPay.com.