October 19, 2016 — Beaverton, Ore. and San Francisco — Nvoicepay, the leader in payment automation software for the enterprise, and Napier Park Financial Partners, Napier Park Global Capital's private equity group, jointly announced a $10 million growth equity investment in Nvoicepay.
"Nvoicepay's solution enables every supplier regardless of size, geographic location or technology to be securely paid electronically," said Karla Friede, CEO and Co-Founder of Nvoicepay. "Using Nvoicepay, all suppliers can be paid through the same automated process, dramatically reducing costs and increasing efficiency. Napier Park Financial Partners and its Principals have backed numerous companies at the intersection of finance and technology and we believe this growth financing further validates our success to date and positions us well to continue driving innovation in accounts payable automation."
The company also announced that Steve Piaker, Managing Director and Co-Head of Napier Park Financial Partners, will be joining the Nvoicepay's board of directors. "We seek opportunities to partner with management teams and provide the resources and deep financial services expertise to enable innovative growth companies to reach their full potential," said Piaker. "Nvoicepay's rapid growth across multiple industry verticals underscores the strength of its platform and we are thrilled to partner with Karla and the entire team to support Nvoicepay's next phase of growth."
Nvoicepay's payment automation solution transforms the massive and expensive effort that goes into paying suppliers into a simple automated process. While most enterprises pay some of their invoices electronically, the most common payment method is still the paper check. By leveraging Nvoicepay's intuitive cloud-based software, enterprises are recapturing resources, driving down costs, and benefiting the bottom line with minimal effort. Nvoicepay offers a simple and secure cloud-based workflow that works with every accounting system and all banking partners, as well as best-in-class supplier services, to guarantee success.
Founded in 2009, Nvoicepay serves thousands of corporate customers paying hundreds of thousands of suppliers with the company's payment solution each day.
Nvoicepay transforms the massive and expensive effort that goes into paying suppliers into a simple automated solution. Nvoicepay optimizes payments for enterprises with intuitive cloud-based software, comprehensive supplier services and the strongest security in the industry. Enterprises which use Nvoicepay automate all payments, unlock resources and immediately reduce their accounts payable costs by 75%. Learn more at www.nvoicepay.com and follow us on Twitter at @Nvoicepay.
About Napier Park Financial Partners
Napier Park Financial Partners ("Financial Partners"), the private equity group of Napier Park Global Capital, seeks opportunities to partner with management and select co-investors to build high-performing businesses in the financial services industry. Financial Partners focuses on investing in innovative, high growth companies at the intersection of financial services and technology-enabled products and services. Financial Partners targets investments of $5 million to $30 million and works in partnership with its portfolio company management teams and co-investors to build value. Current and prior Financial Partners' portfolio companies span the following industry subsectors - Payments Technology and Services, Banking & Lending Technology and Services, Insurance Technology and Services, Banking and Specialty Finance, Asset and Wealth Management, and Business Services and Outsourcing. For more information, visit http://www.napierparkglobal.com/private-equity.
About Napier Park Global Capital
Napier Park Global Capital is an independent alternative asset management firm that manages approximately USD$6.8 billion as of June 1, 2016. The firm offers a diversified product mix including credit funds, bespoke client solutions, private investments, CLOs, and structured credit to large, sophisticated institutional investors. Napier Park Global Capital has offices in New York, London and Switzerland. For more information, visit: www.napierparkglobal.com.
Read the original press release on Marketwired.