Wednesday 18th January, 2023
American Express has announced that it has entered into an agreement to acquire Nipendo a company used by global businesses to automate and streamline business-to-business (B2B) payments processes.
The transaction is American Express’ latest strategic step toward its goal of creating a leading end-to-end B2B platform, making business payments simpler and more efficient.
Nipendo’s platform allows businesses to easily connect, communicate, and automate Procure-to-Pay processes, including accounts payable and receivable. American Express intends to integrate Nipendo’s team, technology, and capabilities to expand its differentiated offerings for businesses.
“Businesses can face a number of challenges even before they make a payment, including finding the right suppliers, managing order processes and supply chain, as well as handling discrepancies and invoice reconciliation. These traditionally paper-based processes require heavy investments of time, effort, and money,” said Nipendo Co-Founder & CEO, Eyal Rosenberg. “We are honored to become a part of American Express, excited about the synergy of our mutual vision and looking forward to serving as an important component of the new business value we can offer, by efficiently streamlining B2B payments.”
In 2019 Amex acquired acompay and in 2022, Amex partnered with Accounts Receivable players BillTrust and Versapay. Last month, the company announced Amex Business Link, a B2B solution for American Express’ network participants.
The acquisition is subject to closing conditions and is expected to close within the quarter.