BootstrapLabs is pleased to share that FLEETCOR Technologies, Inc. (NYSE: FLT) acquired our portfolio company Roger.ai on January 28, 2021.
The worldwide acceleration of digital transformation is creating an explosion of new data that creates exciting new opportunities for automation and artificial intelligence applications. Roger.ai provides businesses with an efficient way to manage bill payment and cash-flow. Roger.ai enables businesses to manage their accounts payable and vendors efficiently, by applying Artificial Intelligence to route approval of bills to the right person, detect fraud, and inject the resulting data directly into accounting or ERP systems. This saves small to medium sized businesses time and money.
Roger.ai’s two founders, Cathrine Andersen and Christian Rasmussen are serial entrepreneurs who sold their prior company, Assemblage, to Cisco in 2014. BootstrapLabs was the first institutional investor in Roger.ai in 2016 after the company was founded. BootstrapLabs has worked closely with the founders to support them in building Roger.ai to become a leading emerging company in the financial industry. With the acquisition by FLEETCOR, Roger.ai will be able to continue to build and expand their vision.
“Teaming up with FLEETCOR just makes sense. Roger is an emerging technology for SMBs, pushing the boundaries of every day processes like business bill pay and bookkeeping. Joining forces with a global payments leader like FLEETCOR gives us the power to grow and scale faster than alone”.
-Cathrine Andersen, Co-Founder and CEO
The acquisition will extend FLEETCOR’s portfolio of accounts payable automation solutions to small businesses, helping them automate their manual payment processes. The acquisition provides FLEETCOR with a proven, modern automation platform for B2B online bill payment.
“I am excited about FLEETCOR’s acquisition of Roger.ai. I still remember when Cathrine A. pinged me and told me that she and Christian Rasmussen were working on their next thing – I loved the vision right away, and that vision grew over time to build an amazing product that help businesses manage the pain of bills, payments, and the accounting mess that often follows. Now the Roger team and vision will grow to the next level, backed by one of the largest payment infrastructure companies in the world”.
–Nicolai Wadstrom, Founder, CEO & General Partner of BootstrapLabs
Below you can read the full press release:
ATLANTA–(BUSINESS WIRE)–Jan. 28, 2021– FLEETCOR Technologies, Inc. (NYSE: FLT), a leading global business payments company, today announced it has acquired Roger, a global accounts payable (AP) cloud software platform for small businesses. The acquisition will extend FLEETCOR’s portfolio of accounts payable automation solutions to small businesses, helping them automate their manual payment processes. Read More.