BTRS Holdings completes its previously announced business combination.
FREMONT, CA: BTRS Holdings, a B2B accounts receivable automation and integrated B2B payments leader, and South Mountain Merger, a special purpose acquisition firm, announced today the completion of their previously rolled out business combination. South Mountain's stockholders approved the business combination in January 2021.
Upon completing the business combination, South Mountain changed its name to BTRS Holdings Inc. It's Class 1 common stock and warrants are predicted to begin trading on the Global Select Market and the Capital Market under the symbols BTRS and BTRSW, respectively, commencing January 13, 2021. Billtrust is incredibly excited to partner with the new board of directors and investors as the company continues to lead the drive towards digitized, combined B2B payments. The accounts receivable industry is ripe for innovation. The company believes it is a public company better position to serve the customers while providing significant capital flexibility for continued growth, both organic and inorganic.
South Mountain is pleased to complete the combination and look forward to collaborating with Flint and the Billtrust team as they seek to change B2B commerce. The team believes that management has developed an extraordinary business, and the company is excited to help them along their public market journey. Billtrust is a pioneering cloud-powered software provider and integrated payment processing solutions that simplify and automate B2B commerce. Accounts receivable is broken and depends on traditional processes that are outdated, manual, inefficient, and largely paper-based. Billtrust is at the front of AR's digital transformation, offering mission-critical solutions that span credit decisions and monitoring, online ordering, invoice delivery, payments and remittance capture, cash application, and collections.
