Mississauga-based billing platform Kubra is set to be acquired by Atlanta, Georgia-based integrated payment processor Repay for approximately $372 million USD ($518 million CAD).
Repay announced that the two bill payment companies entered an acquisition agreement on Monday evening. Repay said that it’s bringing its payment expertise and technology platform to the table, while Kubra has its “attractive verticals,” partnerships, and go-to-market approach. Repay added that, when combined, the companies will enable over $130 billion in annual payment volume.
Founded in 1992, Kubra helps North American utility, government, and insurance entities bill and connect with their customers through its payment processing, customer notification, and utility mapping solutions. Kubra claims that its more than 250 clients extend its reach into over 40 percent of households in the United States and Canada.
Similarly, Repay provides integrated payment processing in more than 15 verticals, including consumer finance, hospitality, healthcare, and more. The company is traded on the Nasdaq stock exchange under the symbol $RPAY.
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Kubra president and CEO Rick Watkin said in a statement that being part of Repay will help pursue growth opportunities in its end markets, while Repay co-founder and CEO John Morris said the deal advances the company’s pursuit to become a leading bill payment provider.
Repay said that it expects to cut $15 million in annual expenses post-merger, as well as find approximately $5 million in technology savings over the next three years as it combines the duo’s operations and platforms. By 2028, Repay expects the deal to unlock an additional $5 million in revenue by offering the combined product to all its clients.
The transaction will be funded with cash on hand and debt financing, and is subject to regulatory approvals in the United States and Canada. The deal is expected to close sometime in the second quarter of 2026.
Feature image courtesy rupixen via Unsplash.