The financials of the deal were not disclosed.
With the acquisition of Clearnox, Isabel Group announces its first foreign purchase and is signaling its continued European growth strategy. Previously, the Belgian firm has made forrays into Luxembourg and followed on with partnerships in the Dutch market.
Isabel Group specialises in business-to-business digitialisation of banking access, identity, payment, and invoicing flows, and will now offer customers the ability to optimise their cash flow, mainly via the follow-up and recovery of unpaid invoices.
“During this pandemic, payment terms were delayed by up to 18.6 days, compared to 10.9 days before. The follow-up of unpaid invoices is key to improve the cash flow of companies,” comments Isabel Group CEO Jean de Crane. ”We, therefore, wanted to offer a reliable, automated, and collaborative solution to complete our value proposition in the order-to-cash chain.”