“UnifiedPost strengthens position in financial accounting integration solutions”
La Hulpe, 9 November 2018 – UnifiedPost, one of Europe’s leading fintech companies, has acquired the Belgian document and accountancy workflow company ADM Solutions. With the acquisition, UnifiedPost strengthens its position in financial accounting integration solutions. The acquisition is the result of the €25 million investment funding UnifiedPost received in April this year. More acquisitions are expected to follow suit.
The ADM Solutions (ADMS) acquisition is a first in a series of strategic projects to accelerate market access and propel UnifiedPost’s integrated payment solutions. In April of this year, UnifiedPost raised €25 million from Participatiemaatschappij Vlaanderen (PMV) [Flanders Investment Company], the Federale Participatie- en Investeringsmaatschappij (FPIM) [Federal Investment Company], an American investment company and an international mix of private investors. The objective of the financing round was to accelerate UnifiedPost’s growth throughout Europe and expand its solutions portfolio.
Last year UnifiedPost, in close partnership with the Instituut van Accountants en Belastingconsulenten (IAB) [Institute of Accountants and Tax Consultants], launched Billtobox.be, a cloud solution for sharing financial and accounting documents between accountants and their clients. Now, with the integration of ADM Solutions’ technology, BilltoBox will be able to offer accountants and their clients an unparalleled workflow experience, compatible with most accounting software and regardless of technical footprint.
With this, UnifiedPost strengthens its position in the fintech landscape, which is expected to change profoundly with the advent of the EU Directive PSD2. BilltoBox not only offers automation of accountancy workflows and digital archiving, but will also support various means of payment collection and reconciliation services.
“This acquisition fits a series of strategic acquisitions that will accelerate our growth,” said Hans Leybaert, CEO, Unified Post “The PSD2-directive offers many opportunities in banking-as-a-service, with payment collection only scratching the surface. Our objective is to become a leading player in this field and create a European platform for streamlining the financial value chain.”
ADM Solutions is an IT development company specialized in digitizing and streamlining document flows. Over the years, the company has built a significant footprint in the accounting sector.
“By joining forces, we can offer a truly integrated workflow experience for both accountants and their clients,” said Mike Vandamme, CEO, ADM Solutions. “Accountants can continue to work in a trusted digital environment, while the customer gains access to a user-friendly web-based platform, BilltoBox.”