Voxel agrees deal to acquire Aussie payments solutions start-up Troovo

Patented automated technology will be integrated into the baVelPay’s payments platform

Voxel has acquired Australian start-up Troovo to support growth in B2B payment solutions.

The travel industry e-invoicing and B2B payments specialist will integrate Troovo’s technology into its baVelPay’s payment platform.

BaVelPay incorporates connectivity with group decision support systems (GDS) and a decision engine, developed and patented by Troovo.

The platform is described as a “fully digital end-to-end payment process without any manual intervention or friction”.

Companies that manage their B2B payments through baVelPay can now access an automated process via Robotic Process Automation (RPA).

Xavier Ginesta, chairman at Voxel, said: “We have taken advantage of the pandemic to spend quality time thinking strategically and investing in technological innovation in order to emerge stronger from the crisis.

“The acquisition of Troovo, its technology and its patent are the spearhead of a strategic plan that not only makes baVelPay’s Payment Manager the most powerful B2B payment platform in the travel industry, but also one of the most complete in the market in general”.

Voxel will maintain Troovo’s offices and team in Sydney and Melbourne and plan to expand the business throughout the Asia Pacific region.

It will also continue to serve the Australian startup’s entire client portfolio, which includes leading companies such as Webbeds, FlightCenter and QBT, via integration into the baVel network.

Following this partnership, baVelPay expects to process around 6 million transactions, worth 2.4 billion euros, by 2022 and to increase this figure tenfold over the next five years.