Atlanta-based payments firm REPAY has agreed to acquire Mississauga-headquartered KUBRA in a deal valued at approximately USD $372 million, marking a significant cross-border transaction in the North American bill payments space.
Founded in 1992, KUBRA has built a substantial footprint across utilities, government, and insurance, delivering bill payment and customer communication solutions that reach more than 40% of households across the United States and Canada. The company serves over 250 clients through a deeply embedded platform that integrates with enterprise resource planning systems across its core verticals.
The acquisition brings together two complementary players in the payments ecosystem. REPAY, known for its integrated payment processing technology, will combine its capabilities with KUBRA’s vertical specialization and customer engagement infrastructure to create a scaled platform supporting more than $130 billion in annual payment volumes.
“Today’s announcement advances REPAY on our transformational journey to become a leading bill payment provider,” said John Morris, Co-Founder and CEO of REPAY. “The combination brings together highly complementary go-to-market approaches, creating robust opportunities to enhance growth, while also deepening client experiences and driving operational and financial efficiencies.”
KUBRA’s offering spans six core solutions, including billing and payments, alerts and preference management, mobile applications, artificial intelligence tools, and utility mapping. Its recurring revenue model and long-standing relationships with large enterprise and public sector clients have made it a key infrastructure provider in the bill payment ecosystem.
For KUBRA, the deal represents an opportunity to scale further under a payments-focused parent.
“We are excited to enter KUBRA’s next phase by joining REPAY and creating a scaled payments platform,” said Rick Watkin, President and CEO of KUBRA. “REPAY will enhance value for our clients, while helping to further pursue growth opportunities in our end markets.”
The acquisition also expands REPAY’s reach into new verticals, particularly utilities and government, while strengthening its distribution channels across more than 18 industries.
The transaction will be completed on an all-cash basis and funded through a combination of cash on hand and debt financing. It remains subject to regulatory approvals in both Canada and the United States, along with customary closing conditions, and is expected to close in the second quarter of 2026.
The deal underscores continued consolidation in the payments and billing infrastructure space, as providers look to scale platforms, deepen integrations, and capture a larger share of recurring transaction flows across essential services.
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