FLEETCOR Acquires Cloud Software Platform Provider of B2B Online Bill Payment

Rhea-AI Summary

FLEETCOR Technologies, Inc. (NYSE: FLT) has acquired Roger, a global accounts payable cloud software platform aimed at small businesses. This acquisition enhances FLEETCOR's portfolio by automating manual payment processes and streamlining B2B online bill payments for SMBs and accounting firms in North America and Europe. FLEETCOR's CEO, Ron Clarke, stated that this move will create cross-selling opportunities within their SMB fuel card base, further expanding their corporate payments business.

Positive

• Acquisition of Roger enhances FLEETCOR's accounts payable automation solutions.
• Expands cross-sell opportunities within FLEETCOR's existing SMB fuel card base.
• Modern cloud platform improves efficiency for SMBs and accountants.

Negative

• None.

FLEETCOR Technologies, Inc. (NYSE: FLT), a leading global business payments company, today announced it has acquired Roger, a global accounts payable (AP) cloud software platform for small businesses. The acquisition will extend FLEETCOR’s portfolio of accounts payable automation solutions to small businesses, helping them automate their manual payment processes.

The acquisition provides FLEETCOR with a proven, modern automation platform for B2B online bill payment. The platform helps SMBs gather and scan invoices and receipts, eliminate manual data entry using machine learning technology, approve and execute payments, setup automated workflows, and sync to accounting systems like QuickBooks Online, Sage Intacct, Xero, and others in real time. In addition to small businesses, accounting firms in North America and Europe use, refer, and resell the platform today in connection with their customers.

“This acquisition provides us with a modern, cloud based, bill payment platform that will immediately open up cross-sell opportunities into our global SMB fuel card base,” said Ron Clarke, Chairman and CEO of FLEETCOR. “It’s a big step in expanding our fuel card business into a corporate payments business, and extending our current middle market corporate payments business into the SMB space.”

About FLEETCOR
FLEETCOR Technologies (NYSE: FLT) is a leading global business payments company that simplifies the way businesses manage and pay their expenses. The FLEETCOR portfolio of brands help companies automate, secure, digitize, and control payments on behalf of their employees and suppliers. FLEETCOR serves businesses, partners and merchants in North America, Latin America, Europe, and Asia Pacific. For more information, please visit www.FLEETCOR.com.

About Roger
Roger is an accounts payable automation platform for small-and-medium-sized businesses. Automated B2B payments, expense management and automated accounting come together in one effortless platform, helping our customers take manual work out of their day-to-day workflow. For accountants and bookkeepers, Roger's Advisors platform is the only platform to truly automate client accounting services, helping advisors take on more clients, uncover new revenue models and design their practice for growth. For more information, please visit www.roger.ai.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210128006002/en/

FAQ

What is the purpose of FLEETCOR's acquisition of Roger?

The acquisition aims to enhance FLEETCOR's accounts payable automation offerings for small businesses, providing them with a modern approach to bill payments.

How does Roger's platform benefit small businesses?

Roger's platform automates manual payment processes, enabling small businesses to streamline invoice management and payment execution.

What impact will the acquisition of Roger have on FLEETCOR's business?

The acquisition is expected to create cross-sell opportunities and expand FLEETCOR's reach into the small business market.

When was the acquisition of Roger by FLEETCOR announced?

The acquisition was announced on January 28, 2021.