Corpay, formerly Fleetcor, a corporate payments company and mainstay of the fuel card and fleet management space, announced it is acquiring Paymerang, an accounts payable automation firm for an undisclosed amount. The acquisition will integrate Paymerang’s network of over 250,000 merchants into Corpay’s, which will now total more than 1 million vendors in aggregate, and process over $120 billion in annual spend. The transaction is set to close in Q2. Strategically, the deal expands Corpay’s presence in sectors like education, healthcare, hospitality, and manufacturing, aligning with Corpay’s growth and profitability objectives.
Corpay to Acquire Paymerang
