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Feb. 22, 2020

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Financial firm Nvoicepay part of $255M acquisition

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The sale of Beaverton startup Nvoicepay earlier this year was worth somewhere close to $255 million, according to a new regulatory filing.

Nvoicepay provides automated invoicing services for more than 400 customers. It sold to Georgia company Fleetcor, a major player in the commercial payments industry with $2.4 billion in sales last year.

Fleetcor announced the deal in March and completed the transaction April 1.

In a financial filing late Friday, Fleetcor said it acquired Nvoicepay and another company at the same time for a combined price of $255 million. Fleetcor didn’t disclose how much each deal was worth, but described the other transaction as “a small international acquisition” and didn’t identify the company involved.

If Nvoicepay sold for somewhere north of $200 million that would make the deal among the largest in recent years for young Oregon tech companies. The Beaverton company had reported $22 million in funding.

Nvoicepay did not respond to a request for comment.

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