Versapay
Accounts receivable software and B2B payments for mid-size companies, owned by private equity firm Great Hill Partners since a 2020 take-private. Fully remote, with no offices, across the US, Canada and Israel.
Versapay home and careers pages, checked Nov 3, 2026; Electronic Payments International, Feb 24, 2020- Valuation
- About C$126M in 2020 Great Hill's take-private price (C$2.70 a share, about US$95M). No later value published.
- Owner
- Great Hill Partners Boston private equity firm; Ten Coves Capital joined when Versapay bought DadeSystems in 2022.
- Scale
- 10,000 customers Versapay says 5M+ companies transact on its network and it handles 110M+ transactions a year.
- Watch
- Third CFO since 2022 Glen Braganza joined in August 2026; the CEO cited his IPO, capital raise and deal experience.
- AI
- Assistant live, autonomy later Three AI features are live, AI cash application is in beta, and an Autonomous stage is a roadmap idea.
- Liquidity
- Exit runs through a sale Owned by one buyout firm; no tender offer or staff share sale found. Careers page does not mention equity.
- Hiring
- 26 → 28 remote listings since Oct 10.
Software subscriptions plus payment processing.
Versapay sells accounts receivable software: digital invoicing, a customer payment portal, collections, cash application (matching payments to invoices) and B2B payments, embedded in ERPs such as NetSuite, Sage Intacct and Microsoft Dynamics. Banks including Wells Fargo white-label it. It does not publish revenue, prices or a revenue split.
Refresh Miami, Jun 28, 2024; Versapay, Oct 8, 2026- 1A payments network on both sides of the invoiceVersapay says 5 million businesses transact on its network, five times the 1 million it reported about 18 months earlier.FF News (Versapay release), May 29, 2024
- 2Built into the ERPs finance teams already useIts product embeds in NetSuite, Sage Intacct and Microsoft Dynamics, and bank partners such as Wells Fargo resell it under their own name.Refresh Miami, Jun 28, 2024; Versapay, Oct 8, 2026
- 3Cash application know-how from DadeSystemsThe 2022 DadeSystems deal added DadePay, which Versapay says posts 90%+ of payments straight through, and seven of the top 65 North American banks as users.Versapay, Apr 18, 2022
- Bill Holdings$4.15Blisted, Oct 30 close
- HighRadius$3.10Bprivate, Mar 30
- Billtrust$1.70Bprivate, Dec 19
- Versapay$95MTake-private buyout, Feb 21
Private values are the last reported round; they can be stale. Listed values are market value. Bars start at zero.
Every round, and what its terms give away.
Versapay is private, so there is no share price. What its investors paid, and on what terms, is the closest thing to one.
- $95M
- latest valuation, Take-private buyout Feb 21
- 400
- employees, as reported
- Apr 18Add-on acquisition equityLed by Great Hill Partners and Ten Coves CapitalBoth put in new capital to fund the DadeSystems purchase; Ten Coves rolled its DadeSystems stake into Versapay. Price not disclosed.Versapay, Apr 18, 2022
- Feb 21Take-private buyout$95M at $95MLed by Great Hill Partners. About 100% of the company, if all new sharesC$2.70 cash a share, about C$126M of equity fully diluted (about US$95M). Ended its TSX Venture listing (VPY).Lexpert; Electronic Payments International, Feb 24, 2020
- Down round or flat round?No priced round since the 2020 buyout, and the 2022 add-on financing had no reported value. Nothing to compare.Versapay, Apr 18, 2022Open
- How much of the company the last deal soldAll of it: Great Hill bought 100% of the shares in 2020. Ten Coves holds a stake from the 2022 DadeSystems rollover.Electronic Payments International, Feb 24, 2020Clear
- Time since the last dealGreat Hill has owned Versapay for about 6.7 years, and the last new capital was April 2022. Long holds often end in a sale or recapitalization; none is announced.Versapay, Apr 18, 2022; EPI, Feb 2020Flag
- Structured or unusual termsNo debt, preference or warrant terms are public. Private equity buyouts usually carry debt, but none is disclosed for Versapay.Lexpert, checked Nov 3, 2026Open
- Who led the last financingInsiders: owner Great Hill plus Ten Coves, the DadeSystems investor that rolled into Versapay. Normal for a buyout add-on.Versapay, Apr 18, 2022Clear
- Tender offers or secondary sales for staffNone found in Versapay news or press. The careers page lists salary, bonus and retirement plans but no equity.Versapay careers page, checked Nov 3, 2026Open
- Layoffs in the last 12 monthsNo layoff found in news or company posts; the last reported cut we found was a 2015 US office closure. Headcount was 400+ in mid 2024.Refresh Miami, Jun 28, 2024; searched Nov 3, 2026Open
Clear: checked, nothing found. Flag: found, with the source. Open: could not be checked.
No filing reported
What the record says, and what we think it means.
The fact is the source's. The read, in italics, is ours.
- 01Good
Fully remote, no offices.
Versapay careers page; Lever board, checked Nov 3, 2026Versapay's careers page says it has no physical offices or return-to-office mandates; staff work from Canada, the US and Israel and meet at events.
About as remote as a company gets. All 28 open posts on its job board are tagged remote.
- 02Watch
Three finance chiefs since 2022.
Payments Dive, Apr 19, 2024; release reprint, Aug 21, 2026Russell Lester was CFO from Sep 2022 to Mar 2024, Ed Neumann was named in Apr 2024, and Glen Braganza was named in Aug 2026.
Frequent CFO change can reflect owner priorities shifting. The new hire's IPO and deal background hints at an exit plan.
- 03Neutral
New CFO pitched on IPOs and deals.
Versapay release reprint, Aug 21, 2026CEO Carey Kolaja said Braganza has helped companies through IPOs, capital raises, major acquisitions and integrations. The release cited a strong first half of 2026 with no figures.
Groundwork for a sale, a merger or a listing is possible. Nothing has been announced.
- 04Neutral
Taken private in 2020.
Electronic Payments International, Feb 24, 2020Great Hill Partners paid C$2.70 a share, about C$126M, completing the deal in February 2020. Versapay had traded on the TSX Venture Exchange.
A small buyout by today's standards. The owner's return depends on a future sale, so expect exit talk.
- 05Neutral
Payment volume claims vary by page.
Versapay job post and home page, checked Nov 3, 2026; FF News, May 2024Versapay cited $170B of yearly volume in May 2024, $260B+ in January 2026, $257B on its home page and $300B+ in current job posts.
Likely growth plus rounding, but no audited figure exists. Treat these as company claims.
- 06Neutral
Headquarters has moved twice.
Refresh Miami, Jun 28, 2024; Versapay careers page, Nov 2026Founded in Vancouver, then based in Toronto; Refresh Miami reported a move to Miami-Dade in fall 2023. Its site now lists a San Francisco mailing address and says it has no offices.
The headquarters is a mailbox. The Canadian roots show in paired US and Canada job posts.
- 07Watch
Every role is posted twice, US and Canada.
Versapay Lever board, checked Nov 3, 2026The 28 posts are 14 roles, each with a US and a Canada copy and separate posted pay. One Canada copy (Senior PM, Payments Gateway) shows US$180K to 200K, above the US copy's US$160K to 180K.
That Canada range may be a currency typo: other Canada posts are in CAD. Confirm the currency before negotiating.
- 08Good
An AI layer across the product.
Versapay, Oct 8, 2026In Oct 2026 Versapay launched Versapay Intelligence: an assistant, sentiment scoring and AI customer summaries are live; AI cash application is in beta.
Useful but early. The company itself labels most autonomy as future stages.
- 09Neutral
Versapay cites a 138% ROI study.
Versapay, Jun 12, 2024Versapay says a Forrester Total Economic Impact study found 138% ROI over three years and 69% efficiency gains from its AI cash application.
Vendor-released studies use a model customer. Useful as a sales claim, not as proof.
Sales is paid 29% under market.
We save every company's roles, pay by team and level, AI share and churn every day, so each month this page can say more. Sparklines use their own scale.
Can AI agents do business with Versapay?
We checked the agent payment programs, developer docs and site rules an AI assistant would meet.
Not yet open to agents. A public API and a help-center llms.txt, but no MCP server or agent payment program.
Still Remote read- Not foundAn MCP server agents can callNo Versapay MCP server found in its docs, news or a web search on Nov 3, 2026.Versapay developer portal and search, checked Nov 3, 2026
- AnnouncedIts own AI agentVersapay Assistant answers invoice questions today. An Autonomous stage where AI coordinates with other agents is described as a framework, not a live feature.Versapay, Oct 8, 2026
- YesA public API agents could usedevelopers.versapay.com hosts an open API reference (version 1.3.35) plus a separate ecommerce API, with a UAT sandbox.developers.versapay.com, checked Nov 3, 2026
- MixedSite and docs AI tools can readversapay.com/llms.txt and developers.versapay.com/llms.txt return 404. The help center has one, about 8,900 characters, listing support articles.help.versapay.com/llms.txt, checked Nov 3, 2026
- YesLets AI crawlers read its siterobots.txt names no AI bots; it only blocks /cpresources/ and /ceros/ for all crawlers, so GPTBot and ClaudeBot can read the rest.versapay.com/robots.txt, checked Nov 3, 2026
- Not foundAgent payment programs (Visa, Mastercard, ACP, AP2)No Versapay participation found. It names Mastercard as a partner, but not for agent payments.Versapay site and search, checked Nov 3, 2026
Where Versapay puts AI to work.
- 1Building AI agents for salesVersapay is hiring its first GTM Engineer to build workflows, integrations and AI agents around Salesforce, measured by hours given back to sellers.Versapay job post, checked Nov 3, 2026
- 2LLMs draft the help docsA product role says staff have sanctioned LLM tools connected to internal systems, and asks for an AI pipeline that drafts documentation from tickets and pull requests, with checks for wrong output.Versapay job post, checked Nov 3, 2026
- 3Explainable AI as the pitchProduct chief Christy Johnson says AI that explains how it got an answer earns the trust to take on more. Versapay says it invests in explainable AI across invoice-to-cash.Versapay, Oct 8, 2026
More listings than on Sep 7, led by sales.
What has to be true for $95 million to hold?
Versapay does not publish revenue, so the starting number is your assumption, not ours. A way to think, not a forecast, and not investment advice.
At 25x, Versapay needs $4 million of revenue to be worth $95 million. Your world gets there with $8 million, so the next round likely prices above the last.
$100,000 of equity valued at the $95M Take-private buyout price would be worth about $206,316 on paper in this world, before dilution from new rounds, taxes and vesting. Private shares only turn into cash at a sale, an IPO or a tender offer.
A way to think, not a forecast, and not investment advice.
Electronic Payments International, Feb 24, 2020 (C$126M, about US$95M)The signals, and which way they push.
- TailwindThe network grew fast.
Businesses on the Versapay network rose from 1 million to 5 million in about 18 months to May 2024.
- TailwindERP embedding widens reach.
Versapay is embedding its AI in NetSuite, Sage Intacct and Dynamics, where mid-size finance teams already work.
- HeadwindBigger, richer rivals.
HighRadius raised at $3.1B in 2021 and EQT bought Billtrust for about $1.7B in 2022; BILL is public.
- HeadwindA rotating C-suite.
New CEO in 2023, new product, payments, marketing and sales chiefs since 2024, and a third CFO in 2026.
Where Versapay ends up, if we had to bet.
Our calls, not facts. Each one is tied to something that already happened, so you can judge the reasoning.
- 1
Great Hill sells or recapitalizes Versapay by 2031.
Likely 72%M&AIt has owned the company since February 2020, longer than typical buyout holds. The 2026 CFO was introduced with IPO, capital raise and deal experience.
Release reprint, Aug 21, 2026; EPI, Feb 2020 - 2
Versapay lists its own shares on a stock exchange by 2031.
Long shot 16%IPONo revenue is published and it was a small company when taken private. A sale to a larger rival or another fund is the more common exit.
EPI, Feb 24, 2020 - 3
Versapay's AI applies most customer payments to invoices with no human review.
Coin flip 50%AIAI cash application is in beta and DadePay already claimed 90%+ straight-through posting. Its own roadmap puts full autonomy at a later stage.
Versapay, Oct 8, 2026; Versapay, Apr 2022 - 4
Versapay buys at least one more small company to fill a product gap.
Likely 72%ProductsIts owner funded the DadeSystems purchase in 2022, and the new CFO's record includes major acquisitions and integrations.
Versapay, Apr 2022; release reprint, Aug 2026 - 5
Versapay stays a top three accounts receivable vendor for mid-size firms.
Coin flip 50%CompetitionIt reports 10,000 customers and deep ERP ties. HighRadius and Billtrust have more capital, and BILL is moving up from small businesses.
Versapay release, Jan 26, 2026
Read by the Still Remote research agent on November 4, 2026 from the sources linked on this page. Facts and scenarios only, not investment advice.