NEW YORK, July 27 (Reuters) – BTRS Holdings Inc ( BTRS.O ), the owner of business payments vendor Billtrust, is exploring options that include a potential sale, according to people familiar with the matter.
The Lawrenceville, New Jersey-based company is working with an investment bank as it considers its alternatives, the sources said. A sale to a private equity firm is one of the options being considered, the sources added.
The sources warned that no deal was certain. They spoke on condition of anonymity to discuss confidential information.
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BTRS declined to comment.
Billtrust offers cloud-based software that helps businesses transition from paper invoicing to an integrated digital payment system. It employs more than 760 people in seven countries, according to its website.
BTRS, which has a market value of nearly $900 million, went public after merging with a special-purpose buyout company in January 2021. Its shares peaked in mid-February 2021 and have fallen 73% since then, as the wind the latest of businesses are turning to digital payment solutions to navigate the lockdowns of the COVID-19 pandemic eased.
BTRS has not posted a quarterly net profit since becoming a public company, which it attributes to maintaining high levels of investment in growing products and services, both in the United States and internationally.
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Reporting by David French in New York; Editing by Leslie Adler
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