CPE News (3/18/2021) – Fattmerchant, an Orlando, Florida based integrated payments technology provider, has acquired Fusebill. Financial terms were not disclosed.
Founded by CEO Tyler Eyamie and CTO Greg Burwell, Ottawa based Fusebill is an award-winning, enterprise-class subscription billing and management platform. Fusebill’s flexible commerce engine empowers clients through powerful revenue recognition capabilities, as well as the automation of payments and recurring, tier, consumption-based, and other billing models., an agile cloud-based subscription billing and payments platform.
Fusebill had been backed by OMERS Ventures, BDC, Covington Capital, ScaleUp Ventures, and Langdell Investments.
Fattmerchant is an award-winning payment technology leader focused on empowering established businesses and software companies to streamline payment acceptance, simplify operations and grow their business.
In December 2020, Greater Sum Ventures (GSV) acquired Fattmerchant in partnership with CEO Suneera Madhani, President Sal Rehmetullah.
Knoxville, Tennessee based Greater Sum Ventures (GSV) is an entrepreneurial family office that invests its own capital in middle market software and tech-enabled services companies.
photo credit: Fusebill
Fattmerchant Makes Strategic Investment in Fusebill
Collaboration creates powerhouse software capabilities in automated subscription billing and payments
ORLANDO, Fla., March 18, 2021 (GLOBE NEWSWIRE) — Orlando-based integrated payments technology provider, Fattmerchant, today announces its strategic investment in Fusebill, an agile cloud-based subscription billing and payments platform.
Founded in 2011 in Ottawa, Canada, Fusebill is an award-winning, enterprise-class subscription billing and management platform used by hundreds of leading companies worldwide. Fusebill’s flexible commerce engine empowers clients through powerful revenue recognition capabilities, as well as the automation of payments and recurring, tier, consumption-based, and other billing models. Fusebill simplifies subscription billing management, giving businesses the agility to capitalize on new product opportunities, maintain a competitive edge, and focus on business growth.
“Fusebill has an impressive record as a frontrunner in billing solutions for small and midsize enterprises,” said Suneera Madhani, CEO and founder of Fattmerchant. “This exciting partnership brings international expansion to Fattmerchant, along with enhanced features for revenue reconciliation, deeper subscription billing, and an API-first approach.”
Since 2014, Fattmerchant has experienced solid growth in its software platform and has processed $9 billion in payments, offering businesses a unified commerce experience to manage their operations and facilitate omni-channel payment acceptance. The company provides independent software vendors (ISVs) the ability to integrate payments into their product offerings and operate as a payment facilitator. Last fall, Fattmerchant received a majority investment led by Greater Sum Ventures to further its growth.
“Fusebill’s feature-rich technology is an incredible additive to support our growing partnerships and ISVs to have enhanced billing for their customers, making our API steps ahead of our competitors,” added Sal Rehmetullah, president and co-founder of Fattmerchant.
“This opportunity is a perfect fit for Fusebill as an avenue to fuel our growth in integrated payments,” said Tyler Eyamie, CEO of Fusebill. “Both companies will have access to a larger pool of ISVs and be able to serve both customer groups with a more robust toolset.”
Fusebill offers integrations with leading customer relationship management (CRM) and enterprise resource planning (ERP) solutions to streamline revenue recognition and accounting. It also has its own branded payments offering, Fusebill Payments, for a seamless customer experience.
Fattmerchant is an award-winning payment technology leader in FinTech focused on empowering established businesses and software companies to streamline payment acceptance, simplify operations and grow their business. With its all-in-one integrated solution Omni Connect, traditional software companies have access to an entire payments ecosystem at their fingertips. This comprehensive solution equips software companies with the ability to accept payments from within their platforms to help create an overall integrated experience for their users. Omni Connect brings together all of the necessary payment processing tools and services into a single platform, thereby allowing a software company to own and monetize the entire payments experience.
Fusebill simplifies subscription and billing management by automating many manual accounting and financial processes and workflows. The cloud-based platform gives companies the freedom to grow their businesses, the flexibility to capitalize on new product opportunities, and the agility to maintain a competitive edge.
About Greater Sum Ventures
Greater Sum Ventures (GSV) is an entrepreneurial family office that invests its own capital in middle market software and tech-enabled services companies. With entrepreneurial roots and proven operational and investing experience, GSV works with select independent co-investing partners to build platforms of technology companies that revolutionize the industries they serve. Headquartered in Knoxville, Tennessee, GSV provides access to capital and operational support to midmarket technology firms all over the world. To learn more, visit GreaterSumVentures.com.
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