#PayTech / MineralTree Raises $50M, Buys Two Companies

MineralTree Inc., the Massachusetts-based accounts payable (AP) automation software provider, announced a $50 million Series D investment round and the purchase of two companies Thursday (Sept. 24).

MineralTree said the new cash and acquisitions are expected to bolster its capabilities for customers and bank partners. It will also allow the company to expand partnerships and product capabilities and to provide AP and payment automation to middle-market companies.

These actions come at a time when the demand for AP solutions is rising as businesses focus on work-from-home mandates and rising costs associated with manually processing invoices and B2B payments.