Lebanon-based global treasury management SaaS TreausryXpress gets acquired by Bottomline

Lebanon-based global treasury management SaaS TreausryXpress gets acquired by Bottomline

Bottomline, a US-based publicly listed payments company, with a market cap of $2.2 billion, has acquired treasury management software provider TreausryXpress, the two companies announced in a statement on Tuesday. The financial details of the transaction were not disclosed.

Founded in 2017 in Paris by a Lebanese entrepreneur Anis Rahal, TreasuryXpress provides online software to different organizations, helping them manage their treasury and cash operations in an easy manner. The software that is being used by 200 clients in the Middle East, North Africa, and Europe, automates large parts of these functions; which are traditionally done manually and require a lot of resources. The automation helps treasurers reduce the cost and optimize their cash and liquidity utilization.

Most of TresuryXpress' staff was based in its Beirut office where the company had started its technology hub after receiving investment from Middle East Venture Partners (MEVP) that had led its Series A. Its cap table also included other names from Lebanon including iSME and The Luxury Fund. According to publicly available data, the Paris-headquartered startup had raised about $6.5 million in total funding to date which includes a $5 million Series B closed in 2017.

Its new owner Bottomline offers different types of payment, invoice, and