Market Leaders - Bill.com, BillingPlatform, Billtrust, BlackLine, Esker, HighRadius, Sage Intacct, Stripe, and Versapay were given the highest "Market Leader" award.

By Nancy DahlbergVersapay has been quietly growing quite explosively since it acquired the homegrown DadeSystems in 2022 to broaden its accounts receivable automation solutions, expand its AI and machine learning capabilities, and grow its mid-market footprint. Last October, the financial technology company, formerly headquartered in Toronto, relocated its corporate base to Miami-Dade’s Dadeland area.Today, Versapay says 5 million businesses transact on the Versapay payments network, amounting to a 5X growth in the network since hitting the 1 million milestone just 18 months ago.At a time of high costs for capital and surging fraud, the growth milestone shows that mid-market companies in particular are looking to Versapay for their secure, reliable transactions, said CEO Carey O’Conor Kolaja. The middle market makes up about a third of private sector GDP and employment.“We believe the future of mid-market business growth hinges on technology partners that have proven confidence and fidelity in moving money. Five million businesses on our network speaks volumes to trust, security, and especially efficiency in transacting with Versapay,” Kolaja, an industry veteran with 25+ years of financial services executive leadership experience, said in a statement.Versapay is a remote-first company with about 400 employees, including about 20 in South Florida. Vice President of Engineering Doug Hathaway said that after the 2022 acquisition of DadeSystems, he and the team stayed on. Hathaway was the founding CTO of DadeSystems, and was even involved in writing the first lines of code in 2011 for a product that is still one of Versapay’s key products today.Doug Hathaway, Versapay’s VP of Engineering

Versapay announces Christy Johnson as Chief Product Officer and Barrett Smith as Chief Payments and Customer Operations Officer.