Payix, which makes collections products, is expected to have revenue of up to $15 million this year. Founded in 2016, the acquired company’s software is described as a supporting “a wide range of payment options and modalities, and integrates into loan management systems ("LMS") and dealer management systems ("DMS") by providing a SaaS approach to collections technology.” Simultaneous with the deal, Repay said it increased its revolver capacity to $185 million from $125 million.
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REPAY ACQUIRES COLLECTIONS BIZ Featured
Payments company Repay has started 2022 with the latest in a string of acquisitions. Repay has acquired Payix for $95 million in cash on hand and through its revolving credit facility.
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