• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar

Fintech.ca

Your Source for Canadian Fintech News

 
 
  • News
  • Thought Leaders
  • Interviews
  • Job Board
  • About

Vancouver’s Beanworks Acquired By Quadient For $105 Million

March 22, 2021 by Fintech Newsdesk Leave a Comment

Quadient announced today that it is acquiring Software as a Service (SaaS) platform Beanworks for approximately $105 million.

Quadient will acquire 96% of the Vancouver company with two key leaders retaining a minority equity stake. Quadient has a mechanism to increase its ownership up to 100% in the coming years.

Founded in 2012, Beanworks is an accounts payable automation solution designed to save you time and money using automation workflows for managing and approving invoices. 

According to today’s announcement, Beanworks supports the accounts payable processes of nearly 800 customers and has a track record of high double-digit annual revenue growth (70% year-over-year revenue growth in 2020).

Beanworks raised a raised a $10.1 million Series B round in 2018, has approximately 90 employees, and is currently hiring in Vancouver.

Filed Under: News Tagged With: Beanworks

Reader Interactions

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Primary Sidebar

 
 

Email Newsltter

LinkedIn
Twitter
Facebook
RSS

Founding Sponsors

Recent Posts

  • Second-Annual Property Technology Report Highlights Health of Ecosystem in Canada
  • Canada Looks to Eradicate Legacy Payment Systems by Building the Real-Time Rail
  • The Future of Money – Key Takeaways For Modern Banking In Canada
  • OTT Pay Launches Tech at University of Toronto to Help International Students
  • Toronto’s Flexiti Financial Reaches Major Milestone as Growth Accelerates

Copyright © 2022 Incubate Ventures