Fortis Payment Systems, LLC (FortisPay), a payment technology leader for businesses, independent software vendors (ISVs) and developers, announced it has acquired OmniFund, whose cloud-based Payments-as-a-Platform solution is leveraged by software and enterprise resource planning ERP solutions across the country.
Founded in 2005, Omni is dedicated on delivering superior commerce solutions for their software partners and business clients. The acquisition will enable FortisPay to expand its platform of offerings and capabilities while pursuing new accounts receivable and ERP initiatives. Financial terms of the acquisition were not disclosed.
"This represents an exciting expansion of our platform," said FortisPay CEO Greg Cohen. "OmniFund has developed a full technology stack with additional commerce enablement features that will make our unified offering unmatched in our target markets. The addition of Stacy and her team to our family is exciting as they share our passion for making software partners better through technology and amazing experiences.
Stacy Roderick, CEO of OmniFund, will join the FortisPay leadership team and her entire team will continue to execute as they are integrated into the greater organization.
"We are excited to join FortisPay during a time when the company is rapidly expanding," Roderick said. "FortisPay offers the market a truly modern, fully integrated commerce and payment facilitation experience, and OmniFund's customized technology will further enhance their platform. Joining forces means the software partners and businesses of both entities will benefit from new solutions and innovation."
FortisPay has been rapidly expanding its suite of products and its market reach. Over the past three months FortisPay has acquired payment facilitation and new vertical capabilities, as well as expanded into Canada and launched over a dozen new integrated software partnerships. Technology is critical in the pursuit of scale and the FortisPay platform continues to excel through innovation and investment.
OmniFund offers scalable, cloud-based payments technology to businesses in a range of industries. The Payments-as-a-Platform solution includes credit-card processing, SMS payment requests, recurring payments, mobile payments, a virtual terminal and other features. The company has partnerships with a range of software companies, specifically focusing in the areas of finance and health care.