(LONDON, England; 29 September 2023) – SimplyPayMe, Ltd., whose software provides companies payment, invoicing, and business management solutions that are accessible through smartphones, has acquired the assets of Mytown Technologies Ltd. for stock considerations. The deal includes Online High Street, an e-commerce marketplace platform, and the business directory Mytown UK, along with more than 500,000 listed merchants and 75,000 consumer emails.
In a related move, SimplyPayMe’s board of directors has chosen to change the company name to Merchant Technology Ltd. “The new name better reflects our strategy of acquiring companies that provide tech solutions to the global SME market,” said CEO Dominic Brookman.
As an equity and debt partner, TAP Financial Partners assisted in and approved the structure of the merger. They have previously provided funding and advisory services to fuel SimplyPayMe’s growth.
“We believe Mr. Brookman’s approach to both organic and buy and build growth has tremendous opportunities in the near to midterm,” said Bob Press, founder of TAP Financial Partners. “The company has a robust list of potential targets and customers the TAP team continues to provide feedback and structuring recommendations for.”
Online High Street is a marketplace for independent shops & online stores, allowing small businesses to have a virtual shop window and sell products throughout the UK. Mytown UK is a place & business directory for trades & services, restaurants, accountants, and more. All merchants affiliated with Online High Street and Mytown UK will be offered the proprietary payment technology utilized by SimplyPayMe’s clients.
Employees of Mytown have joined the new company as part of the acquisition.
TAP Financial Partners is a privately-held, boutique merchant bank providing advisory, restructuring, debt and equity, investment, and lending services, fulfillment, and up-listing advice to a select group of small and mid-sized enterprises. Its financial expertise and decades of collective experience position it to be a difference-maker for clients, no matter the assignment or mandate.
To learn more about services and impact, connect at www.tap-partners.com or info@tap-partners.com.
