MineralTree

About MineralTree

MineralTree was established in 2010 by founder BC Krishna, an entrepreneur with a background in financial technology from the MIT Media Lab. Krishna identified a need to automate the manual and inefficient accounts payable (AP) processes prevalent among mid-sized businesses. The company operates in the business-to-business (B2B) fintech market, providing cloud-based, end-to-end AP automation solutions. Its business model is primarily based on software-as-a-service (SaaS) subscriptions and transaction fees.

The company's core offering, an invoice-to-pay platform, digitizes the entire accounts payable workflow. This includes automated invoice capture, coding, approval routing, and payment execution. MineralTree's software integrates directly with a variety of accounting and ERP systems like NetSuite, QuickBooks, and Sage Intacct, creating a two-way synchronization of data. Key features include fraud detection, duplicate invoice prevention, and support for multiple payment methods such as virtual cards, ACH, and checks. The platform aims to provide clients with reduced processing costs, improved cash flow visibility, and enhanced security controls.

Targeting mid-market companies that process hundreds to thousands of vendor payments monthly, MineralTree serves various sectors including healthcare, education, and food and beverage. Over its history as a private entity, the company raised a total of $123 million in funding from investors like Great Hill Partners and .406 Ventures. A significant milestone occurred in September 2021, when MineralTree was acquired by Global Payments for $500 million in cash. This acquisition was a strategic move for Global Payments to enhance its B2B payment services and expand its software-led offerings.