Fortis Secures Joint Investment from Audax, LMP to Boost Growth

Fortis, a leader in payments technology, has secured a joint investment from Audax Private Equity and existing investor Lovell Minnick Partners (LMP) to enhance its embedded payment solutions and drive growth in the B2B payments market. With this capital infusion, Fortis aims to accelerate its product roadmap, pursue strategic acquisitions, and expand its global footprint. CEO Greg Cohen emphasized that the partnership is crucial for defining the future of embedded payments, while LMP partner Trevor Rich noted that Fortis has exceeded growth expectations since their initial investment in 2019. Audax's expertise in scaling middle-market companies will augment Fortis' capabilities in providing tailored payment solutions, simplifying complex payment environments for businesses. This investment positions Fortis to capitalize on the rapidly evolving market, which is projected to reach $100 trillion. The collaboration is seen as a pivotal step in advancing technological innovation and expanding service offerings in the embedded finance space.