In a strategic move to bolster its payment solutions, Fortis has acquired Serve First Solutions. This acquisition aims not only to enhance Fortis’ existing B2B payment offerings but also to deepen its presence in the market. By integrating Serve First’s technology and service model, Fortis plans to extend its reach across various software platforms and enterprise resource planning systems, providing multichannel payment solutions to a broader array of businesses.
Other acquisitions by Fortis have shown a pattern of strategically integrating companies with specific payments expertise. With the prior integration of MerchantE’s NetSuite payments division and embedded payment provider SmartPay, Fortis aims to continually enhance its technological and service capabilities. These past acquisitions have been steps to fortify its position in the competitive landscape of B2B payment solutions.
How Will Fortis Benefit from the Serve First Integration?
The acquisition of Serve First Solutions is expected to enhance Fortis’ service capabilities and multichannel payment infrastructure. By bringing Serve First under its umbrella, Fortis seeks to unlock new revenue streams and improve cash flow for its clients.
“By combining our technology with a world-class distribution and service model, we’re not just processing payments — we’re helping our clients unlock new revenue and accelerate cash flow,”
said Greg Cohen, CEO of Fortis.
What Does this Deal Mean for Serve First?
The partnership will likely expand Serve First’s operational capacity and customer base by leveraging Fortis’ distribution network. Serve First’s CRO, Matthew Greco, highlighted the potential for delivering integrated solutions with high service standards moving forward.
“Together, we’ll deliver powerful, integrated solutions with the service excellence customers depend on,”
noted Greco. This collaboration signifies a promising future for both entities in the fast-evolving payments industry.
Fortis’ drive to expand its embedded payments solutions follows a strategic investment in March by Audax Private Equity and Lovell Minnick Partners. This was intended to expedite the company’s product development and acquisition strategy. Audax Partner Tim Mack previously cited Fortis’ ability to simplify complex payment environments as integral to their investment decision. Fortis’ strategy appears to be closely aligned with these goals, aiming for a robust market presence.
In recent years, Fortis has been aggressive in its growth strategy within the B2B payments sector. The acquisition trajectory shows a commitment to increasing its market influence through both technological advancement and strategic partnerships. This approach highlights the importance of comprehensive solutions in facilitating enterprise growth and efficiency.
The acquisition marks a significant step in Fortis’ expansion efforts, signifying its commitment to strengthening its position in the B2B sector. By continuously seeking acquisitions that provide specialized services and technological integration, Fortis is positioned to better serve an expanding client base. This move shows Fortis is determined to remain a competitive player in an ever-evolving market landscape.
