Automated accounting software provider Aiwyn has acquired the U.S. payments business of QuickFee, a payments, financing, and accounts receivable automation provider, in a reported $26 million deal announced on Sept. 7.
QuickFee’s U.S. payments business includes QuickFee Pay Now and QuickFee Connect.
“I am confident our customers are in excellent hands with Aiwyn,” QuickFee Chairman Dale Smorgon said in a statement. “Our customers and team are becoming part of an organization that values their relationships and experience, and I am confident they will continue to thrive as an important part of Aiwyn’s future.”
Through its deal with QuickFee, Charlotte, NC-based Aiwyn says it’s further expanding its product suite by providing customers access to QuickFee’s “Pay Later” finance offering.
QuickFee customers will continue to use their existing payment solutions while gaining access to Aiwyn’s integrated platform, including practice management, client experience, and artificial intelligence tax solutions.
Dallas-based QuickFee will continue to operate its financing business independently.
“I’m excited to welcome QuickFee’s customers and team to Aiwyn,” Aiwyn CEO Justin Adams said in a statement. “We have long admired the firms QuickFee serves. We look forward to building lasting partnerships and supporting them while providing them with the trusted products Aiwyn is known for.”
According to a Charlotte Business Journal report, Adams emphasized the strategic advantage of combining the two firms. The integration of Aiwyn’s platform with QuickFee’s payment automation and cash flow management capabilities creates a more comprehensive solution for accounting firms, addressing both immediate payment processing and longer-term cash flow needs.
“This acquisition strengthens Aiwyn Payments’ positioning for modern technology-driven accounting firms by combining Aiwyn’s integrated platform capabilities with QuickFee’s specialized payment automation, cash flow management expertise, and flexible financing options,” he said.
Aiwyn plans to continue growing organically while remaining open to selective strategic acquisitions that align with its mission.
“Our mission statement is to be the trusted partner to the accounting profession for the next century,” Adams said. “While our primary growth strategy as a VC-backed company will remain organic, we will stay open to future opportunistic strategic acquisitions that could align with our mission and company culture.”
Thanks for reading CPA Practice Advisor!
Subscribe Already registered? Log In
Need more information? Read the FAQs
