Eftsure buys Relish to expand payment assurance in US

Eftsure has acquired US vendor data specialist Relish, expanding its payment assurance business in North America.

The combined group serves more than 4,000 corporate customers, monitors 11 million vendors across 190 countries and territories, and protects US$288 billion in payments each year.

Relish focuses on vendor data validation, workflow automation and invoice processing, while Eftsure verifies payee and bank details before payments are released. Together, those functions will sit in a single payment assurance platform.

The acquisition builds on Eftsure's recent expansion outside its home market. It previously bought French payment control business Sis ID and later launched in Singapore, broadening its presence across North America, Europe and Asia-Pacific.

The enlarged business employs more than 600 people across those regions. Eftsure also said annual recurring revenue grew 45% over the past year.

Fraud controls

The deal comes as finance teams face pressure to process payments faster while managing fraud risk, payment errors and weak points between procurement, payroll, treasury and accounts payable systems. More automated finance workflows have also increased the need for independent checks on vendor records, invoices and bank account details.

Relish's Data Assure product validates and enriches vendor data against government and third-party sources. Its Invoice AI product automates invoice processing and checks invoice data before payment.

Eftsure's core service independently verifies the payee and bank details linked to a payment before money leaves a business. Together, the companies aim to reduce reliance on disconnected onboarding, validation and payment controls.

The combined platform integrates with more than 35 finance and enterprise systems, including SAP, Coupa, Workday, ServiceNow, Microsoft Dynamics 365 and Oracle NetSuite. Eftsure said it can verify accounts covering about 85% of the world's banked population.

Global reach

The acquisition gives Eftsure a stronger foothold in the US market through Relish's existing customer base and product set. It also strengthens the company's position in software used by finance departments to check supplier records and payment instructions before funds are transferred.

Eftsure Chief Executive Officer Jon Soldan said the deal creates a global payment assurance platform.

"Bringing together payment integrity leaders across Asia-Pacific, Europe and North America creates something the market hasn't had before: a truly global payment assurance platform. As finance becomes more autonomous, faster workflows aren't enough. Enterprises need trusted data and independent verification behind every payment. This combination brings those controls together at global scale," Soldan said.

Relish's Ryan Walicki said the acquisition links the company's data checks with Eftsure's payment verification process.

"Relish was built to close the data and workflow gaps that expose enterprises to financial risk. Joining Eftsure connects that intelligence with independent payment verification, giving finance teams greater confidence from vendor onboarding and invoice processing through to the moment money moves," Walicki said.

The two companies operate in a part of the finance software market that has drawn more attention as businesses try to limit supplier fraud, duplicate payments and misdirected transfers. By combining vendor data checks, invoice validation and bank detail verification, the enlarged group is seeking to cover a broader stretch of the payment process than either business did on its own.

Eftsure said the combined platform provides visibility across accounts payable, payroll, procurement and treasury, bringing together controls across the systems where money moves.