(LONDON, England; February 20, 2023) –
SimplyPayMe (“SPM”), an award-winning payments and business management company has reached an agreement with Mytown Technologies, a TAP Financial Partners portfolio company, and technology services to acquire the SimplyPayMe software on a licensing deal, Mytown Technologies will also supply SimplyPayMe with management services. The deal adds mobile payments technology to Mytown’s offering to SMEs and adds human and intellectual property resources to fuel further growth and expansion.
The deal sees SimplyPayMe benefitting from the Mytown Technologies management team, as well as gaining additional resources to enable SimplyPayMe to continue to grow and improve its current offering. Mytown Technologies also boasts its own directory of merchants, which will give SimplyPayMe the opportunity to reach small businesses looking for a business management solution.
Mytown Technologies is a TAP Financial Partners portfolio company and technology services firm whose web-based application enables small and medium-sized organizations to market and sell products to local audiences in real-time.
As part of the acquisition, Dominic Brookman, CEO of Mytown Technologies, will take on the same role with SimplyPayMe. SimplyPayMe will continue to operate as a mobile payments and customer management app for its audience of service and trade-focused individuals and businesses.
Mytown Technologies CEO, Dominic Brookman, comments:
“We’ve added valuable technology that will enhance what we provide our base of retail stores and expand our software as a service (SAAS) offerings,” said Brookman. “We’ll also add significant talent to our team as we integrate with the current SimplyPayMe staff in the management agreement.”
Mytown’s acquisition, made for stock and cash considerations, grants the company a perpetual license to use and/or modify SimplyPayMe’s mobile payment and customer relationship software. The agreement also calls for Mytown to provide management, finance, and administrative services.
Mytown, in partnership with TAP, a U.S.-based merchant bank, is one of the UK’s fastest growing e-commerce marketplaces for independent shops & stores. It features a powerful search directory that supports local authorities, business improvement districts, and small business owners.
As an equity and debt partner, TAP has provided funding and advisory services that have helped Mytown grow its market share and make strategic acquisitions, including the Simply Pay Me transaction. “We continue to be pleased by the execution of the Mytown team. This agreement is good for stakeholders of both organizations,” said Bob Press, founder of TAP Financial Partners.
About SimplyPayMe
SimplyPayMe is an award-winning global payments company whose mobile-based payment and business management solution is specifically designed and engineered to meet the growing demands of the underserved SME community.
The product suite has been specifically designed and engineered for this sector and enables seamless payments, invoicing, and business management solutions, all through your smartphone. The mobile app is available via both the Google and Apple app stores.
UK App store links:
Apple: https://apps.apple.com/gb/app/smarttrade-app/id623215327
Google: https://play.google.com/store/apps/details?id=com.smarttradeapp&hl=en_GB
US App store links:
Apple: https://apps.apple.com/us/app/smarttrade-app/id623215327
Google: https://play.google.com/store/apps/details?id=com.smarttradeapp&hl=en_US
