Capstone Partners advised iPayables — a leading provider of enterprise-grade accounts payable automation solutions — on its sale to DocuPhase, a portfolio company of LoneTree Capital.
Based out of Utah, iPayables is a leader in the automating of accounts payable processes, with a particular expertise in workflow optimization. IPayables’ advanced cloud invoicing system InvoiceWorks® allows businesses to streamline the entire Procure-to-Pay process, and its advanced EIPP system allows companies to process invoices electronically, make changes, and track & make payments while eliminating manual processes.
The Capstone team provided unwavering advice every step of the way. They not only gave guidance on when to launch a process but were integral in every step of our preparation process, which resulted in flawless execution and a strong closing. We would highly recommend Capstone’s Fintech team to anyone looking to find the right partner at the right time.
The iPayables acquisition will bring DocuPhase a full suite of pure A/P workflow functionality for large enterprises, expanding their target market while creating many cross-selling opportunities between the two firms. The combined solutions can now offer clients a more complete suite of process automation capabilities to serve the broad treasury management function including A/R and payments. DocuPhase’s payments capabilities will help iPayables to monetize the billions of spend running through its systems.
David Francione, Managing Director and Head of the FinTech investment banking team, commented, “This marks Capstone’s 4th transaction in the A/P invoice automation & payments market. There is a significant amount of interest in building out a one-stop shop for providing treasury management functionality to middle-market and large-scale enterprises across industries globally. Corporations are looking for more than a point solution today and this transaction certainly puts DocuPhase/iPayables in the forefront of this.”
Founded in Tampa Bay, Florida, DocuPhase is an automation software company. It provides enterprise content management, document management, and workflow software solutions. DocuPhase also provides comprehensive software and services for enterprise automation.
LoneTree is a private, growth-oriented equity investment firm providing flexible financing, mergers & acquisitions, and operating support for leading companies in high-growth sectors. LoneTree invests between $10M – $50M per deal across select sectors including software, digital infrastructure, health IT/services, enterprise & consumer services, and fintech/specialty finance.
The expert investment banking professionals on Capstone Partners’ Technology Team work with leading middle market companies operating in the Financial Technology market to advise with their strategic decision-making in order to maximize financial outcomes at every stage of the business lifecycle. Our firm has developed a full suite of corporate finance solutions, including M&A advisory, debt advisory, financial advisory, and equity capital financing to help privately owned businesses and private equity firms address any need, ranging from growth and financial or operational advisement to an ultimate exit transaction. To learn more about this transaction, or about the benefits of starting a relationship with our FinTech Banking Team, contact us here.
