Business payment fintech Mail to Pay buys Belgian peer

Dutch fintech Mail to Pay, which supplies debt collection software for businesses, is to acquire its Belgian counterpart POM for an undisclosed sum.

The acquisition of Antwerp-based POM – which develops payment solutions to simplify the processing of invoices, fines, membership fees and donations – will create a business with a total of €10m in revenue. POM currently has more than 1,300 clients, active in a variety of sectors, including energy companies, insurance companies, schools and sports clubs and government institutions. The company was founded in 2014.

Part of the driving force behind its success is the use of innovative QR payment codes and payment links, which allow faster payment of outstanding invoices or bills. POM predicts that up to 40% of customers who receive a payment request through their system pay the bill within 24 hours, with a mix of payment options offered depending on the customer’s profile.

Mail to Pay, an intelligent credit management software that automates the invoicing process of large organisations, already has clients such as Vodafone and Univé. The company says the acquisition of POM “fits into its strategic plan”.

Merger will “increase Mail to Pay’s presence in Belgium”

Mail to Pay Group CEO Kees Neven says: “By uniting POM and Mail to Pay, we are combining two technological frontrunners. Our primary focus is to relieve companies of the invoicing process. Combining automated credit processing software with innovative payment options creates new ways for organizations to receive payments faster, more efficiently and in a more customer-friendly way.

“We already have an office in Belgium serving our existing Belgian clients, but this acquisition will significantly increase our presence in Belgium. Our ambition is to gain more clients, increase our international exposure and introduce a new innovation every year. Ultimately we want to achieve a leading role in invoicing and debt automation in Europe.”

POM CEO and co-founder Johannes Vermeire says: “In these times of high inflation, this offers great benefits. An increasing number of people struggle to pay their bills on time. Offering payment in installments or deferred payment can make a significant difference. By by merging our activities with Mail to Pay, we are taking another step forward. We are expanding our offer with solutions for invoice tracking and thus providing even more value.”