Payments & Fintech Acquisitions in North Carolina

TPG acquired a majority interest in AvidXchange in a take-private transaction valued at approximately $2.2 billion, with Corpay purchasing a 34% minority stake for about $550 million. The deal will make AvidXchange a private company as TPG leads efforts to accelerate growth while Corpay partners strategically to expand payments and AP automation capabilities.

Juniper Square has acquired Tenor Digital, an AI-enabled platform for private credit lenders and loan administrators, to integrate Tenor’s loan servicing, reporting, and reconciliation tools into Juniper Square’s fund administration and JunieAI platform. The deal expands Juniper Square’s capabilities and market reach into the fast-growing private credit sector and brings Tenor’s founding team, including CEO Tony Chung, into Juniper Square leadership.

Improving Payments has acquired American Spirit Processing in a deal orchestrated by 733Park. The acquisition brings American Spirit's bail, bond and legal payments expertise into Improving Payments' merchant-focused payments platform to broaden capabilities and service verticals.

Payroc WorldAccess, LLC (Payroc) has acquired Raleigh-based Atlantic Merchant Services, a full-service merchant payment processor serving the mid-Atlantic and beyond. The deal expands Payroc's merchant relationships, sales partner network and payment technology reach while allowing Atlantic Merchant's team to access Payroc's in-house processing and global capabilities.

Persistent Systems acquired Software Corporation International (SCI) and its affiliate Fusion360, adding a dedicated payments business unit and expanding its cloud and payments capabilities. The deal brings deep payments domain expertise and IBM Financial Transaction Manager (FTM) application capabilities into Persistent's global digital engineering and enterprise modernization services.

Sunlight Financial closed its previously announced business combination with Spartan Acquisition Corp. II, creating Sunlight Financial Holdings Inc., which will begin trading on the NYSE under the ticker SUNL. The transaction was supported by Spartan's cash-in-trust and a $250 million PIPE from institutional and accredited investors; Spartan is sponsored by funds managed by an affiliate of Apollo Global Management.