Mirakl announces acquisition of Octobat for cross-border payments collaboration

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Valentina Vitali
Valentina Vitali
FXC Intelligence Research Analyst
Valentina is a Research Analyst at FXC Intelligence, the data sister company of FXcompared. Valentina is passionate about payments and fintech. Valentin enjoys analysing money transfer companies and… Read more
  • Mirakl, a cloud-based e-commerce infrastructure provider, has confirmed that it will purchase French enterprise invoicing company Octobat.
  • The move will help Mirakl’s customers with a range of money transfer issues, such as navigating tax and regulation questions.
  • “For the first acquisition in Mirakl’s history, we looked for an opportunity that would keep us ahead of customer needs,” said a spokesperson for Mirakl.

Mirakl, a cloud-based e-commerce infrastructure provider, has confirmed that it will acquire a French company that focuses on cross-border payments in an enterprise invoicing context.

The acquisition of Octobat will be the company’s first.

It means that users of Mirakl’s marketplace tools will now be able to use Octobat services to navigate the regulatory infrastructures that are in place in both domestic and international contexts.

This aims to make it easier for the firms to expand their offers.

The areas of regulation being targeted include tax, invoice formatting regulations, and more.

There will also be a concerted effort to help people with a move to “e-invoicing”.

In a statement, a senior figure at Mirakl emphasised that this was the first time that Mirakl had ever acquired another company.

Philippe Corrot, who is the company’s chief executive officer and co-founder, said that the firm wanted to offer exactly what its customers wanted.

“For the first acquisition in Mirakl’s history, we looked for an opportunity that would keep us ahead of customer needs,” he said.

He went on to say that the firm had seen an opportunity to add automation and simplification into the marketplace invoicing context.

“With Octobat, we saw we could simplify and automate complex invoicing for marketplace operators across the globe, enabling them to scale faster than ever.”

He added that Mirakl had made considerable progress even before this recent move.

“Mirakl already leads the market in advanced payments and financial flows, and this acquisition extends the capabilities of our open, flexible marketplace platform even further.”

Gaultier Laperche, Octobat’s co-founder and chief executive officer, pointed out that the company had spent the time since its foundation helping internet-based merchants navigate the complicated space.

“Since our founding in 2014, we’ve had success helping online merchants more easily manage the complexities of e-invoicing compliance,” he explained.

He said that the company wanted to find a purchaser that was happy to put Octobat’s solution into practice across the globe.

“We were eager to see our unique solution in use by customers around the world, so joining forces with Mirakl fulfills that vision.

“Like us, Mirakl believes invoicing is a critical aspect of the marketplace buying and selling process and an essential capability for the future direction of the entire enterprise marketplace category.”

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