XTM Completes US$3 Million Asset Sale to Pateno Payments

Fintech company XTM Inc has finalized the sale of certain assets to Pateno Payments, a subsidiary of Digital Commerce Group, in a deal worth US$3 million. The transaction closed on September 17, with proceeds adjusted for standard closing conditions and a 90-day holdback.

The funds enabled XTM to fully repay its senior debt with 2Shores Capital, eliminating security tied to the facility. Management framed the move as a milestone in the company's drive toward profitability, saying the divestiture would cut operating costs and help it reach cash neutrality.

As part of the deal, XTM will continue to rely on the QRails processing platform to serve clients, without the financial and operational burden of running the processor internally. At the same time, the QRails engineering team has moved to Pateno, ensuring technical continuity.

XTM still owns its core AnyDay™ platform, which covers payroll and workforce management tools, along with key client relationships. The sale, while narrowing XTM's scope, is intended to sharpen its focus on core products while easing financial pressure.