VersaPay Corporation Mails Special Meeting Materials In Connection With Proposed Arrangement With An Affiliate of Great Hill Partners

January, 17, 2020

Toronto, ON – January 17, 2020 – VersaPay Corporation (TSXV: VPY) (the “Company” or “VersaPay”), a leading provider of cloud-based invoice-to-cash solutions including electronic invoice presentment and payment, automated accounts receivable, cash application and collections management, announced today that it has commenced mailing materials to the shareholders of VersaPay (the “Shareholders”), including the management information circular of the Company dated January 15, 2020 (the “Circular”), for the special meeting of VersaPay Shareholders (the “Meeting”) to be held on February 14, 2020 in connection with the proposed acquisition by 1233518 B.C. Ltd. (the “Purchaser”), an affiliate of Great Hill Partners (“Great Hill”), of all of the issued and outstanding common shares of the Company (“VersaPay Shares”) by way of a...

Great Hill Partners to Acquire VersaPay Corporation – Customer FAQs

December, 13, 2019

To our valued Customers and Partners: Today we have announced a definitive agreement for the acquisition of VersaPay by Great Hill Partners, a private equity firm based in Boston. The following FAQ will provide more detail which I trust will be helpful. If you have additional questions, feel free to connect with your primary contact at VersaPay. They are ready and waiting to speak with you! We are excited about this next stage of our journey together as we pursue our big goal to change the way thousands and thousands of companies do business together. Best regards, Craig O’Neill CEO VersaPay Corporation 1. What does this announcement mean? Great Hill Partners, a US private investor, has agreed to acquire...

Great Hill Partners Makes All Cash Offer to Acquire VersaPay Corporation

December, 13, 2019

Toronto, ON – December 13, 2019 – VersaPay Corporation (TSXV: VPY) (“VersaPay” or the “Company”) and Great Hill Partners (“Great Hill”), a leading growth-oriented private equity firm, are pleased to announce that the Company and an affiliate of Great Hill have entered into a definitive arrangement agreement (the “Arrangement Agreement”) whereby Great Hill will indirectly acquire all of the issued and outstanding common shares of the Company (“VersaPay Shares”) by way of a statutory plan of arrangement under the Canada Business Corporations Act (the “Transaction”). Under the terms of the Arrangement Agreement, each VersaPay shareholder (the “VersaPay Shareholders”) will receive cash consideration of C$2.70 for each VersaPay Share held (the “Consideration”), valuing VersaPay’s total equity at approximately C$126 million...

VersaPay to Present at the Citi 2019 Financial Technology Conference

November, 13, 2019

New York, NY ; Toronto, ON – November 13, 2019 – VersaPay Corporation (TSXV: VPY) (“VersaPay”), a leading provider of cloud-based invoice-to-cash solutions including electronic invoice presentment and payment, automated accounts receivable, cash application and collections management, will participate today on a panel at the Citi 2019 Financial Technology Conference in New York City. During the conference VersaPay CEO Craig O’Neill will participate on a panel of distinguished speakers discussing AR automation and the digitization of business payments. O’Neill will discuss the need for businesses to drive transformation and enable their organizations to operate online to better serve their customers and remain competitive in their respective markets. The conference hosts investment firms and investors as well as fintechs from...

VersaPay Announces Dream Office REIT as Newest CRE Client

November, 12, 2019

Toronto, ON – November 12, 2019 – VersaPay Corporation (TSXV: VPY) (“VersaPay”), a leading provider of cloud-based invoice-to-cash solutions including electronic invoice presentment and payment, automated accounts receivable, cash application and collections management, is pleased to announce that it has added Dream Office REIT (“Dream Office”) as its newest commercial real estate client. “With our real estate portfolio expanding in Canada and the US, our objective is to enhance our tenants’ experience and provide them with a convenient web-based and mobile portal where they can access their account, retrieve invoices, communicate and make secure electronic payments,” stated Joanne Leitch, Vice President, Property and Operations Accounting at Dream Office. “We want to create efficiencies by eliminating manual processes, minimize errors...

VersaPay Closes $4 Million Credit Facility with National Bank

November, 5, 2019

Toronto, ON – November 5, 2019 – VersaPay Corporation (TSXV: VPY) (“VersaPay”), a leading provider of cloud-based invoice-to-cash solutions including electronic invoice presentment and payment, automated accounts receivable, cash application and collections management, is pleased to announce the closing of a credit facility with National Bank of Canada’s Technology and Innovation Banking Group (“NBC”). The facility consists of a $4.0 million revolving credit facility (the “Facility”) which matures in April 2021, extendable thereafter. “I’m pleased we’ve been able to put this facility in place with a great partner like NBC,” said Craig O’Neill, Chief Executive Officer. “Its an efficient way to optimize our working capital and a testament to the growth we’ve achieved in our recurring revenues from ARC.”...

VersaPay Signs Agreement With Samtec To Provide Customer-Centric AR Solution

October, 30, 2019

New Albany, IN ; Toronto, ON – October 30, 2019 – VersaPay Corporation (TSXV: VPY) (“VersaPay”), a leading provider of cloud-based invoice-to-cash solutions including electronic invoice presentment and payment, automated accounts receivable, cash application and collections management, is pleased to announce that it has signed an agreement with Samtec, a large U.S. electronics manufacturer and distributer, to provide VersaPay ARCÒ. With revenues approaching $1 Billion, Samtec was looking to enhance its receivables process, and improve the payment experience for customers, including self-service functionality. The winning platform had to automate collections and eliminate manually driven processes, significantly reduce aged receivables and enable a proactive approach for managing the invoice-to-cash process. As a result of an exhaustive evaluation process, Samtec selected...

VersaPay Signs Global Manufacturer and Distributor of Beverages and Snack Foods

October, 24, 2019

Toronto, ON – October 24, 2019 – VersaPay Corporation (TSXV: VPY) (“VersaPay”), a leading provider of cloud-based invoice-to-cash solutions including electronic invoice presentment and payment, automated accounts receivable, cash application and collections management, is pleased to announce that a global manufacturer and distributor of beverages and snack foods (the “Client”) has selected ARC to automate its invoice-to-cash process. The Client’s main goal for an AR Automation solution was to improve their customers’ experience, recognizing that their current process for billing and collecting payments did not reflect the leading edge products and services it offers. A secondary goal was to gain process efficiencies in collections and cash application. The Client selected VersaPay ARC for its best-in-class customer experience and for...

VersaPay Signs Supply Chain Company

October, 16, 2019

Toronto, ON – October 16, 2019 – VersaPay Corporation (TSXV: VPY) (“VersaPay”), a leading provider of cloud-based invoice-to-cash solutions including electronic invoice presentment and payment, automated accounts receivable, cash application and collections management, is pleased to announce that it has signed a North American supply chain solutions provider (the “Client”) with more than 500 operating locations and 60,000 carriers. The Client recently acquired a company that has been using VersaPay ARCÒ for more than two years, and their experience has been so positive that they recommended the solution to their new parent. After reviewing the results their newly acquired division had achieved with ARC, the Client elected to implement the solution across its entire business, providing a great self-serve...