A credit management company from the Netherlands, Payt has received an investment from Partech, through its growth fund. Partech (which recently backed Gireve and Greenlyte) will invest €55 million alongside a strategic partnership to accelerate the company’s expansion across Europe.
Expansion plans
In addition to its European expansion plans, the company will continue to innovate and expand its offering for its customers, with new payment options and the upcoming roll-out of new AI capabilities which will further automate customer communication and payment predictions.
Touted to be a market leader in accounts receivable SaaS solutions in the Netherlands, the company serves over 13,000 users with high customer satisfaction. With successful expansions into Belgium, Germany, and the UK, Payt is poised for further growth.
What does the company do?
Founded in 2012 by Sander Kamstra, Jelger Gustafsson, Aziz Al-Harazi, and Rob Rustenburg, Payt aims to make credit management of your organisation more personal, efficient, and effective.
Payt’s accounts receivable SaaS platform platform is highly configurable, with integrations to the vast majority of ERP and bookkeeping systems, creating a compelling international product-market fit. Its powerful, easy-to-use software automates the accounts receivable process, improving collection time, reducing bad debt, and enhancing the debtor experience with transparency and efficient communication. It also ensures invoices are paid faster and easier.
Its smart debtor management software handles repetitive tasks such as printing and envelope-stuffing invoices, calling customers, and sending reminders, which are time-consuming, and labour-intensive. These repetitive tasks are all automated, leaving users focused on more important issues.
Currently, it serves over 4,000 loyal and diversified clients across the Netherlands, Belgium, the UK, and Germany.
Quooker Payt’s client said: “Since we started working with Payt, thousands of reminders have already been sent of which over 80% were subsequently paid by our customers. Also, Payt has allowed us to fine-tune things internally, as Payt takes a lot of the work off our hands.”
Notably, Payt has been advised by Emendo Capital (M&A) and DeBreij (Legal), Project Moore (Legal), Sincerius (Finance), and Atlas (Tax). Partech has been advised by Van Lanschot Kempen (M&A), Jones Day (Legal), Code & Co. (Technology & Product), and EY (Finance & Tax).
Sander Kamstra, CO-founder and board member, stated, “Partnering with Partech marks a pivotal moment for Payt. We found excellent synergy with them and are enthusiastic about the opportunity to collaborate with them. Their expertise will be invaluable as we expand our innovative solutions across Europe.”
Bruno Crémel, General Partner at Partech, added, “Payt’s user-friendly software revolutionizes the accounts receivable process, and we are thrilled to support their growth journey and international expansion.”
What do we think about Payt?
Payt is poised to transform the accounts receivable landscape with its highly configurable and user-friendly SaaS platform. By automating the accounts receivable process, it enhances efficiency, reduces bad debt, and improves debtor communication. As it expands across Europe, Payt’s innovative solutions will continue to drive improved financial management for businesses, making it a key player in the industry. Its integration capabilities and customer satisfaction set it apart for sustained growth.
