Coupa Software is to being bought by software investment firm Thoma Bravo in an all-cash transaction with an enterprise value of $8.0 billion. Coupa, previously listed on the NASDAQ, will become a privately held company.
The transaction includes a significant minority investment from a wholly-owned subsidiary of the Abu Dhabi Investment Authority (ADIA).
'We're looking forward to partnering with Thoma Bravo and accelerating our vision to digitally transform the Office of the CFO,' said Rob Bernshteyn, chairman and chief executive officer at Coupa.
The company will continue to operate under the Coupa name and brand.
BNP Paribas is to acquire FX fintech Kantox for an undisclosed sum. The deal comes three years after the two firms signed a strategic partnership agreement.
Kantox's flagship Kantox Dynamic Hedging product integrates exposure management, rules-based hedge execution, reporting and analytics into a single foreign exchange software solution.
Thierry Laborde, Chief Operating Officer at BNP Paribas, said the deal "demonstrates the group’s ambition to strengthen the technology dimension of our GTS strategic plan, in particular with our ability to establish long-term partnerships with fintechs as with Nickel and FLOA."
At Kantox, CEO and co-founder Philippe Gelis said: “We have been serving clients together since 2019 when our technology partnership started. During those 3 years, we spent a lot of time together in the field, getting the opportunity to understand that together we were stronger and able to bring more value to clients. It is the best of both worlds, the leading software company in the currency management automation category and the leading bank in Europe.”
Treasury Intelligence Solutions (TIS) has launched its first new solution since its acquisition of cash forecasting specialist Cashforce in June. The new tool, Working Capital Insights, integrates data from multiple sources, such as ERPs, to offer working capital metrics and KPIs on one dashboard.
TIS says the new solution allows corporations to review payment terms and behaviour for vendors and customers, analyse invoice and billing activity, and measure all elements of their net working capital (NWC) status and cash conversion cycle.
TIS will share more details of this solution at Working Capital Forum Europe in Amsterdam on 1st December.
HSBC's transaction banking services have been embedded into Oracle's NetSuite AP Automation product, allowing corporates to manage payments and automate reconciliations within the ERP itself.
Barry O’Byrne, Chief Executive Officer, Global Commercial Banking at HSBC, described the integration as, 'The largest fully embedded Banking as a Service deployment into a globally recognised cloud ERP system.'
NetSuite AP Automation is now available in the US as part of NetSuite’s
Nomentia has signed a deal with SEB to help its corporate clients prepare for P27, the Nordic Payments Platform designed to improve domestic and cross-border payments in the Nordics.
Under the agreement, SEB clients can use Nomentia to establish connections with the bank and send payments in the correct file format from their enterprise resource planning systems (ERPs) and financial systems.
'We decided to partner with Nomentia as the company has immense experience and expertise to deliver the integrations in a way that is seamless for our clients,' said Ida Blom, Partner Manager at SEB. 'Our customers can work with Nomentia to develop connectivity between their systems and our bank. Nomentia will create and maintain the integrations and handle the data format transformation."
California-based treasury technology firm Trovata has signed a global distribution agreement with Santander. Under the deal, Santander will offer Trovata’s cash management platform to its corporate clients.
The agreement comes weeks after Trovata announced it was expanding into Europe with new offices in London and Amsterdam.
Eva Bueno, managing director & global head of cash management for Banco Santander, said the bank was, “Thrilled to bring to our clients the most advanced technology on the market for cash forecasting and liquidity management.”
For Trovata, Founder and CEO Brett Turner said the firm was, “Excited to partner with Santander to expand outside the U.S. and deploy Trovata for the bank’s clients in key markets within Europe and Latin America.”
Treasury Intelligence Solutions (TIS) has acquired cash forecasting specialist Cashforce for an undisclosed sum. The news comes just days after TIS announced €50m in new funding from Kreos Capital.
The two companies had already been close collaborators with several clients using both solutions. Now Cashforce's cloud solution will be fully integrated with TIS's SaaS payments platform.
Erik Masing, Group CEO of TIS, described the acquisition as ‘A natural extension of our business that will allow TIS to further integrate Cashforce's solution with our platform in order to offer advanced forecasting and data management capabilities to all our clients.’
The move represents further consolidation in a treasury systems market that has already seen Nomentia acquire TIPCO, Coupa acquire Bellin and Bottomline take over TreasuryXpress.
Treasury Intelligence Solutions (TIS) has agreed a debt facility of up to €50 million with Kreos Capital to fund ambitious growth plans. In a statement, TIS said it would use the new funding for, 'New product innovations, potential acquisitions, and continued geographic expansion.' The debt financing comes in addition to $40 million in equity financing previously raised by the Heidelberg-based business.
Erik Masing, CEO of TIS, said, 'The funding comes at the perfect time for TIS as we look to expand our geographic footprint, push into new verticals, and extend core platform capabilities. We look forward to working with Kreos on executing our strategy.”
Sean Dunne, General Partner of Kreos Capital, described TIS as, 'An industry leader in enterprise B2B payments, cash management, and fraud prevention solutions. We look forward to working with the management team to achieve their growth objectives.'
California-based cash management platform provider Trovata is expanding into Europe with new offices in London and Amsterdam. The news comes as the firm closed a $27m series B funding round, led by Fin Capital, alongside existing investors including JPMorgan Chase Strategic Investments.
Trovata launched in 2019, using APIs to connect multiple data sources, including banks, to give a full picture of cash across the organisation. In 2021 it raised $20m in its series A round and already has a strong group of US clients such as Square and Bandwidth.
'We’ve not only built out the largest library of corporate banking APIs in the world, we’ve also built an entirely new end-to-end platform, an operating system to manage cash better, faster, and smarter,' said Brett Turner, founder and CEO at Trovata. “We’re super excited to expand into the UK and the EU.'
ION Treasury has integrated Neterium's Jetflow sanction screening product into its Wallstreet Suite payment factory platform.
Wallstreet Suite provides a payment hub for cash movements. The new agreement will mean that all settlements passing through the system are screened using Jetflow as they go through the payments workflow before being sent to the bank.
'Partnerships are key to Neterium’s success,' said Luc Meurant, CEO at Neterium. 'We partner with digital platforms, financial services providers, solutions, and data vendors to add advanced screening capability to their platforms and solutions, enhancing their customers’ experience. '
Treasury Technology news from the experts at Treasury Dragons.