MineralTree

Founded in 2010, MineralTree, according to its website, offers companies modern, safe, easy-to-use and comprehensive solutions for automated handling of accounts payable. MineralTree solutions can reduce costs by more than 75%, increase transparency and control, and reduce the likelihood of fraud and risk while improving cash flow. More than 3,000 companies and financial institutions, from medium-sized businesses to Fortune 500 companies, use the services of MineralTree to digitize and optimize the entire process of working with accounts payable. As a result, customers retain control over the full workflow from billing to receiving payment, improve supplier relationships, maximize ROI, and transform the financial function from cost center to profit center.

History

2021: Global Payments bought MineralTree for $500 million

In early September 2021, the American payment solution provider Global Payments announced the purchase of MineralTree. The deal is estimated at $500 million.

Global Payments acquired MineralTree for $500 million

Combined with existing B2B payments capabilities of Global Payments, including leadership in commercial payments, domestic and international acquiring, payroll, data and analytics, virtual card provision (randomly generated 16-digit number or "token," which can be used to withdraw a certain amount of funds once), cloud solutions MineralTree enable Global Payments to expand growth opportunities in one of the most popular areas of fintech.

Among the main solutions of the company: TotalAP (a cloud solution for working with accounts payable, which digitizes and automates the entire process of paying invoices, supports scaling from processing hundreds to tens of thousands of invoices per month) and TotalPay (a solution for automating payments).^[1]

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