B2B Payments Company Voxel Acquires Troovo

Spain-based B2B payments company Voxel recently announced its acquisition of Australian startup Troovo to power its B2B payments business. Financial terms of the acquisition are not disclosed.

According to the official press release, Voxel will integrate Troovo’s technology into baVel Pay’s payment platform. With this acquisition, baVel Pay incorporates two new key functionalities: connectivity with GDSs and a powerful decision engine, developed and patented by Troovo, which aims to optimise the management of electronic means of payment and eliminate all sources of friction in B2B payments derived from the current cumbersome and error-prone manual procedures.

​Companies that manage their B2B payments through baVelPay can now leverage an optimized, completely automated process via Robotic Process Automation (RPA). 

Voxel will maintain Troovo’s offices and team in Australia (Sydney and Melbourne) with the aim of expanding its business in 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 acquisition, baVel Pay 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.