South Mountain Merger completed the merger with Billtrust in a $1.5bn deal.

South Mountain Merger, a special purpose acquisition company, completed the merger with Billtrust, a provider of B2B order-to-cash solutions, in a $1.5bn deal. The transaction included a $200m fully committed pipe at $10.00 per share from investors including Fidelity Management & Research, Franklin Templeton Investments, and Wellington Management. "We are thrilled to partner with the South Mountain team and know we will benefit from their extensive industry experience. We believe AR is ripe for innovation, and together we will continue to invest in opportunities to scale the business, growing both organically and inorganically, as we seek to tackle the large total addressable market. As a leader in AR automation, we believe Billtrust is well-positioned to own a disproportionate share," Flint Lane, Billtrust Founder and CEO.