M&A activity continues to remain low this past week across the payments industry as many cautiously evaluate their capital for potential investments. The number of closed deals across the industry has significantly slowed down within the past two months when compared to earlier this year. Economic uneasiness and global tensions have also affected valuations in addition to stock performances. Billtrust, for instance, went public last year via a SPAC merger with South Mountain Merger Corp. Since their public debut, their stock value has underperformed as the company is now reportedly evaluating a potential sale according to individuals familiar with the matter.
While M&A movement across the industry has recently dwindled, interest in acquisitions continues to remain top of mind for many. With the current economic environment, companies are taking a more vigilant approach to market opportunities as they continue to evaluate targets.
In other news, the B2B payments firm Finexio announced the first closing of their Series B funding round, which raised $30 million and was co-led by Mendon Venture Partners and National Bank Holdings Corporation. As a result, Finexio is now valued at $100 million.