Fleetcor acquires AP platform Roger
The growing trend of integrating payment channels into expense management platforms continues to drive partnerships and acquisitions.
In the latest example, Fleetcor, a US-based B2B payments company, has acquired Roger, which is an accounts payable (AP) platform for small businesses.
The press release notes that this acquisition will “extend Fleetcor’s portfolio of accounts payable automation solutions to small businesses, helping them automate their manual payment processes”.
“This acquisition provides us with a modern, cloud-based, bill payment platform that will immediately open up cross-sell opportunities into our global SMB fuel card base,” said Ron Clarke, Chairman and CEO of Fleetcor. “It’s a big step in expanding our fuel card business into a corporate payments business, and extending our current middle-market corporate payments business into the SMB space.”
The press note also stated that the acquisition of Roger provides Fleetcor with ‘a proven, modern automation platform for B2B online bill payment’. It further noted that the platform helps small-to-medium businesses gather ‘gather and scan invoices and receipts, eliminate manual data entry using machine learning technology, approve and execute payments, set up automated workflows, and sync to accounting systems like QuickBooks Online, Sage Intacct, Xero, and others in real-time’.
Roger is an accounts payable automation platform for SMBs. It combines automated B2B payments, expense management and automated accounting platform onto a single platform.
The terms and value of the acquisition have not been revealed in the press release.