UBSPayments Innovation Event Series：FinTech Conference Edition

Investment Rating - The report does not explicitly state an investment rating for the industry or specific companies, but it highlights the underpenetrated B2B payments opportunities relevant to investors [1][3][11]. Core Insights - The B2B payments landscape is evolving with significant growth potential, particularly in accounts payable (AP) and accounts receivable (AR) automation, which presents opportunities for companies like Billtrust, Finexio, Mesh Payments, and ProfitSolv [1][3][11]. - The revenue models of the discussed companies vary, with some relying heavily on subscription fees while others are transitioning towards a mix of payments and software revenue [1][2][3][5]. - Virtual card usage is on the rise, with companies reporting strong growth without significant pressure on fees, indicating a favorable market environment for B2B payment solutions [1][2][3][5]. Company Summaries Billtrust - Billtrust is a leader in AR automation and B2B payments, processing over $1 trillion in invoices since its inception in 2001, with a 2022 total payment volume (TPV) exceeding $100 billion, reflecting a 35% year-over-year increase [1][2][11]. - The company operates a revenue model split approximately 50/50 between payments and software, with a focus on accelerating cash flow and improving customer satisfaction [2][11]. Finexio - Finexio specializes in end-to-end AP payment solutions, primarily serving middle-market to enterprise businesses, with a current payment volume run rate of approximately $3.5 billion [3][13]. - The company has experienced around 100% revenue growth in 2023 and has a virtual card penetration rate of about 12% of its volumes [3][13]. Mesh Payments - Mesh Payments offers an all-in-one travel and expense management platform, integrating corporate cards and expense management for global enterprises [4][15]. - The company has over 1,500 enterprise customers and has recently launched new products to enhance its service offerings [4][15]. ProfitSolv - ProfitSolv provides a suite of billing, payments, and software solutions for professional services firms, with approximately 94% of its revenue coming from subscriptions [5][17]. - The company has made significant acquisitions to expand its product offerings and currently serves over 100,000 professionals across various sectors [5][17].