PairSoft Strengthens Its AI SaaS Solutions with Nimbello Acquisition
In a strategic move to bolster its offerings in AI-driven procure-to-pay solutions, PairSoft has announced the acquisition of Nimbello. This Miami-based company specializes in automating accounts payable and streamlining payment processes through its advanced capabilities in handling purchase-order-based invoices. By integrating Nimbello’s unique services, PairSoft aims to improve its existing tools and solidify its position as a pioneering force in financial automation.
Originally launched as 'Easy Access' in Granger, Indiana, in 2010, Nimbello was founded by Milind Agtey, driven by a vision to simplify and enhance invoice automation for finance teams in demanding industries like healthcare, manufacturing, and education. With a rich background in finance, Agtey’s innovative strategies led to the development of AI-enabled solutions tailored for organizations that need to manage high volumes of invoices effectively.
Under the leadership of Agtey, Nimbello expanded its team with the appointment of Sunjay Agtey as VP of Strategy and Alliances in 2020. The strategic partnership formed with Vita Mori Ventures in 2022, further amplified Nimbello's operational capabilities, contributing to a remarkable 300% revenue surge from 2022 to 2025. The company’s success can be attributed to its strong client base, notably serving over 60 customers and processing more than 20 million invoices to date.
As Milind Agtey stated, "My ultimate goal when I founded Nimbello was to perfect purchase-order matching for industries that required this to keep up with their volume. Now that our company has achieved that and then some, it's the perfect time to pass the baton to PairSoft, whose customers will also greatly benefit."
The acquisition aligns perfectly with PairSoft’s expansion strategy, which was recently bolstered by significant investment from TA Associates. PairSoft is well-acquainted with the needs of multinational organizations looking for robust tools to scale quickly. The company is known for offering innovative solutions that facilitate seamless ERP integration, particularly with platforms such as Microsoft Dynamics 365, SAP, and NetSuite. With Nimbello on board, PairSoft can reinforce its capabilities in accounts payable automation through enhanced invoice and payment matching.
The integration will be especially advantageous for sectors utilizing Workday, Infor SyteLine, and other ERP systems that benefit from precise matching capabilities. Notably, Nimbello’s advancements in AI for invoice processing and general ledger coding are expected to enrich PairSoft's existing features. Matt Cotter, CEO of PairSoft, expressed enthusiasm regarding this acquisition, highlighting that Nimbello's reconciliation technology will complement PairSoft’s robust offerings.
PairSoft’s solutions specifically cater to the office of the CFO, providing comprehensive cash flow visibility through AI-enhanced accounts payable, procurement automation, and streamlined document management processes.
The transaction underscores the rise of AI-driven technologies in the finance sector, a trend that is reshaping how businesses manage their finances. As automation becomes increasingly crucial for efficiency and accuracy, the collaboration between PairSoft and Nimbello sets a new standard in the market for accounts payable processes.
Professional services in this transaction were supported by JEGI LEONIS as the exclusive advisor to Nimbello, while legal counsel was provided by Reed Smith. The financial details of the acquisition have not been disclosed but are set to unlock new capabilities for PairSoft's customers in navigating the complexities of financial automation.
For further insights and details about PairSoft and its innovative solutions in financial services, visit this link. Also, for those wanting to explore Nimbello's transformation of accounts payable automation, detailed information is available on their official website.
Originally launched as 'Easy Access' in Granger, Indiana, in 2010, Nimbello was founded by Milind Agtey, driven by a vision to simplify and enhance invoice automation for finance teams in demanding industries like healthcare, manufacturing, and education. With a rich background in finance, Agtey’s innovative strategies led to the development of AI-enabled solutions tailored for organizations that need to manage high volumes of invoices effectively.
Under the leadership of Agtey, Nimbello expanded its team with the appointment of Sunjay Agtey as VP of Strategy and Alliances in 2020. The strategic partnership formed with Vita Mori Ventures in 2022, further amplified Nimbello's operational capabilities, contributing to a remarkable 300% revenue surge from 2022 to 2025. The company’s success can be attributed to its strong client base, notably serving over 60 customers and processing more than 20 million invoices to date.
As Milind Agtey stated, "My ultimate goal when I founded Nimbello was to perfect purchase-order matching for industries that required this to keep up with their volume. Now that our company has achieved that and then some, it's the perfect time to pass the baton to PairSoft, whose customers will also greatly benefit."
The acquisition aligns perfectly with PairSoft’s expansion strategy, which was recently bolstered by significant investment from TA Associates. PairSoft is well-acquainted with the needs of multinational organizations looking for robust tools to scale quickly. The company is known for offering innovative solutions that facilitate seamless ERP integration, particularly with platforms such as Microsoft Dynamics 365, SAP, and NetSuite. With Nimbello on board, PairSoft can reinforce its capabilities in accounts payable automation through enhanced invoice and payment matching.
The integration will be especially advantageous for sectors utilizing Workday, Infor SyteLine, and other ERP systems that benefit from precise matching capabilities. Notably, Nimbello’s advancements in AI for invoice processing and general ledger coding are expected to enrich PairSoft's existing features. Matt Cotter, CEO of PairSoft, expressed enthusiasm regarding this acquisition, highlighting that Nimbello's reconciliation technology will complement PairSoft’s robust offerings.
PairSoft’s solutions specifically cater to the office of the CFO, providing comprehensive cash flow visibility through AI-enhanced accounts payable, procurement automation, and streamlined document management processes.
The transaction underscores the rise of AI-driven technologies in the finance sector, a trend that is reshaping how businesses manage their finances. As automation becomes increasingly crucial for efficiency and accuracy, the collaboration between PairSoft and Nimbello sets a new standard in the market for accounts payable processes.
Professional services in this transaction were supported by JEGI LEONIS as the exclusive advisor to Nimbello, while legal counsel was provided by Reed Smith. The financial details of the acquisition have not been disclosed but are set to unlock new capabilities for PairSoft's customers in navigating the complexities of financial automation.
For further insights and details about PairSoft and its innovative solutions in financial services, visit this link. Also, for those wanting to explore Nimbello's transformation of accounts payable automation, detailed information is available on their official website.
Topics Business Technology）
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