Serrala Acquires U.S-based Payference, Strengthening Its Finance Automation Cloud Suite

Hamburg, Germany, July 17th, 2024 — Serrala, a global leader in financial process automation software, has acquired U.S-based Payference, an innovative cash management cloud platform. This acquisition strengthens Serrala's cloud-based solutions suite, adding advanced AR automation and reinforcing its position as a leading player in the global financial tech landscape.

Payference, a Silicon Valley-based company, specializes in cloud-based accounts receivable (AR) automation solutions using AI-driven technology. Their solution offers CFOs and finance teams real-time visibility on cash position and working capital optimization through its Payference IQ Technology™ and intuitive user interface.

Serrala’s customers will benefit immediately from Payference’s AR automation capabilities, thanks to seamless integration of Payference’s products with Serrala’s portfolio, which already includes cloud-based Alevate AP and Alevate Payments.

"I am excited to welcome the Payference team to Serrala," commented Axel Rebien, CEO of Serrala. "This acquisition marks a turning point in our cloud vision for the office of the CFO. It also expands our customer base and presence in the US, which is a major step in our journey to becoming a dominant player in North America."

"Bringing Payference into our Alevate suite reaffirms our commitment to providing cutting-edge, cloud-native solutions to our customers," said Rami Chahine, Chief Product and Technology Officer at Serrala. "This acquisition accelerates our journey to achieve our ambitious goals. No other vendor offers such a comprehensive range of solutions for the office of the CFO across AR, AP, and Payments, both in the cloud and within the SAP ecosystem."

With 40 years of experience serving the office of the CFO, combined with Payference’s innovative AR automation technology, Serrala is set to deliver exceptional value to its customers from day one.