FarPay, a Danish SAAS financial company, takes over billing service iBill.
FarPay, a Copenhagen, Denmark-based SAAS fintech startup announced the acquisition of iBill (renamed viaBill) from Danske Faktura ApS. The value of the transaction remains undisclosed and the acquisition is part of FarPay's growth strategy.
FarPay, led by CEO Andrew Jensen, provides a software as a service solution that integrates directly with the accounting system, and makes it easy for customers to pay invoices with all available payment solutions.
iBill, as part of Danske Faktura ApS, manages invoices for hundreds of Danish customers and handles annual payments for more than 200 million DKK. FarPay now takes over all existing customers will be offered to be linked up to FarPays more modern solution, where they also have plug-n-play access to all payment services.
in 2012 iBill was backed by Northcap and other investors with DKK 10M.
Later edit: The value of the transaction was DKK 300M ($48M) and iBill was renamed ViaBill.