Jacksonville-based OnPay Solutions, an invoice payments provider, has been acquired by Medius, which is based in Stockholm.
Medius automates source-to-pay operations handling $180 billion of transactions annually.
According to its website, OnPay Solutions, assists companies by streamlining AP & AR processes, digitizing paper invoices with 99% accuracy and converting expensive paper-based payments into digital e-payments.
By combining the companies, Medius will be able to integrate payment processing directly into its source-to-pay platform, the company said in a March 29 news release. This will strengthen the company’s anomaly, fraud and risk detection capabilities.
“Jacksonville is a burgeoning tech hub bursting with talent and following a similar trajectory to cities like Austin, Miami and Nashville,” Medius CEO Jim Lucier said in the release.
“It is already the home of a number of innovative fintech businesses, and we’re proud to add Medius’s name to that list.”
Medius said in the release will open an office in Jacksonville in the second half of this year.
OnPay Solutions was founded by Juliet Negrete-Anderson in 2009. It serves more than 400 customers.