QuickFee sells US Pay Now business to Aiwyn for A$40 million

ASX-listed QuickFee Limited have announced the sale of its US Pay Now (ACH, Card and Connect) business for US$26.35 million (A$40 million) Aiwyn, Inc., a US technology company backed by KKR and Bessemer Ventures. Aiwyn delivers payments, practice management and tax solutions to accounting firms.

The sale by Quickfee represents an acquisition multiple of 5x revenue, based on the FY25 Pay Now revenue of US$5.3 million. QuickFee will continue to retain and operate its US Finance loan book and US Finance product.

The large majority of QuickFee US staff are transitioning to Aiwyn.

This acquisition strengthens Aiwyn’s positioning as a leading payments and collection platform for technology-driven accounting firms. QuickFee customers will continue to leverage their existing payment solutions, while gaining access to Aiwyn’s integrated platform, including practice management, client experience and agentic AI tax solutions.

QuickFee will continue to operate its financing business independently, and importantly QuickFee has established a reseller agreement with Aiwyn, whereby QuickFee’s US Finance offering will be embedded into Aiwyn’s products. QuickFee will retain a team in the US to continue to operate and grow the US Finance business, the loan book of which was US$7.5 million as at 30 June 2025.

The sale signed and completed simultaneously. Proceeds of sale are due to be received by QuickFee less an escrow amount of US$1.32 million (to be held by an escrow agent for a period of 12 months to support QuickFee’s sale agreement obligations), by 10 September 2025. The sale agreement contains customary provisions for a transaction of this nature, including working capital true-up adjustments.

The Board will consider several options for the use of proceeds from the sale, including a capital return, dividends, debt paydown and working capital. Quickfee anticipates communicating its capital management decisions to shareholders before the AGM in November 2025.

Dale Smorgon, Chair of QuickFee said, “We are delighted to deliver a great outcome for QuickFee shareholders and staff through the sale of our payments business to Aiwyn – a well backed, highly reputable industry leader. The acquisition validates our strategy and investment in developing QuickFee’s A/R Automation tools and innovative payment platform for CPA’s and professional firms.

“Both parties are committed to an ongoing meaningful, strategic partnership and QuickFee will benefit from a significant new growth channel for our US Finance product. We remain optimistic that our US loan book will continue to grow as it becomes embedded into Aiwyn’s payments options for their expanding customer base.

“I am confident our customers are in excellent hands with Aiwyn. Our customers and team are becoming part of an organisation that values their relationships and experience, and I am confident they will continue to thrive as an important part of Aiwyn’s future.

“Our operating outlook remains positive, we have a strengthened balance sheet and we are confident in the growth potential of our core Finance operations in Australia and the US over the year ahead.”