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Paymentus Corporation gets growth investment from Accel-KKR

Paymentus Corporation has received an equity investment provided by Accel-KKR, a technology-focused private equity investment firm. The investment will be used by Paymentus to accelerate development, drive growth, and enhance the footprint of its real-time payment network.

Paymentus’ unified, SaaS platform delivers enterprise bill payment, presentment and revenue management technology through a self-service model, simplifying, automating and streamlining the bill payment process.  Processing more than 75 million customer transactions annually, the company’s next-generation platform provides real-time, multi-channel payment processing, and the industry’s fastest and most simplified implementation experience.  

Founded in 2004 by one of the pioneers of the E-Payment/E-Presentment industry, Dushyant Sharma, Paymentus has grown successfully by delivering industry-leading payment acceptance capabilities and currently serves nearly 400 customers across North America.

Sharma will continue to lead the business in his current role of President and CEO and will remain a significant investor in the business. In conjunction with this investment, Gary Trainor, an industry veteran, will join Paymentus as its Executive Chairman. Trainor brings to Paymentus three decades of relevant industry and management experience, including 10 years as Division President at First Data.

"We have built Paymentus into a leader in online bill payment, presentment, outbound customer communication and self-service revenue management. Our team is excited to begin this partnership with Accel-KKR, a firm with a long track record of helping build great businesses. This partnership further solidifies our position and enables us to capitalize on the tremendous market potential," says Dushyant Sharma. "At the same time I am looking forward to working with Gary Trainor, given his industry experience and track record of payment innovation."

"I am excited about joining Paymentus given the company’s ability to accept all payment types through all payment channels, and its proven ability to deliver technology that simplifies the entire revenue management relationship between B2C billers and their clients," says Gary Trainor.

Jason Klein, Managing Director of Accel-KKR, says: "Paymentus is a strong fit for Accel-KKR:  it offers advanced payment technology, and a complete revenue management solution that billers have been challenged to access at an affordable price point. The company’s truly unified technology solution provides billers unmatched flexibility, payment visibility and cost of deployment. We are pleased to partner with the team to further the company’s leadership position."

Pagemill Partners advised Paymentus in connection with this transaction.

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