Richmond fintech Paymerang LLC said Tuesday it has acquired Tempe, Arizona, invoice automation provider KwikTag and Australia AI data platform Sypht from Tempe-based enChoice.
Terms of the deal was not disclosed.
KwikTag offers a cloud-based automation solution to clients across multiple industries, which Paymerang said was the first to be fully integrated into the Microsoft Dynamics document management and workflow platform designed for accounting teams. Sypht specializes in AI-powered data extraction and analytics. Both are software-as-a-service based, which will aid in their integration into Paymerang, a provider of a modern invoice and payment automation platform.
Nasser Chanda, CEO of Paymerang, said the solutions and industry verticals provided by KwikTag and Sypht are “highly complementary” to his company’s offerings.
Paymerang, which totals about 200 employees before the acquisition, said the deals add products to its portfolio as well as a proprietary AI platform…
Read the full story from the Washington Business Journal.
