Key Takeaways
- • Audax Private Equity and Lovell Minnick Partners jointly invested in Fortis, a Plano, Texas-based embedded payments technology company, with the deal closing on March 11, 2025; investment terms were not disclosed.
- • Lovell Minnick Partners, an existing investor since December 2019, committed new equity alongside Audax to strengthen market position and technological capabilities in the competitive embedded payments sector.
- • Fortis processes billions of dollars in payments annually through its proprietary platform, serving software providers, ERP customers, and scaling businesses with end-to-end payment solutions across omnichannel environments.
- • The capital infusion is earmarked for innovation, operational excellence, product enhancement, M&A acceleration, and infrastructure scaling to address evolving enterprise payment needs in the B2B software ecosystem.
- • Lovell Minnick Partner Trevor Rich emphasized the appeal of Fortis's founders' vision and technology strength, signaling confidence in the company's competitive positioning within the payments technology market.
Summary
Audax Private Equity and Lovell Minnick Partners announced a joint strategic investment in Fortis on March 12, 2025, following the deal's closure on March 11, 2025. Fortis, founded in 2010 and headquartered in Plano, Texas, operates as a payments technology leader focused on embedded payment solutions for software providers, ERP customers, and scaling enterprises. The transaction marks a significant capital commitment to the embedded payments sector, though the specific investment amount was not disclosed.
Lovell Minnick Partners, which initially invested in Fortis in December 2019, committed new equity capital alongside Audax to bolster the company's market standing. The dual investor structure reflects confidence in Fortis's growth trajectory and technological differentiation. Since LMP's initial investment, Fortis has expanded substantially across the B2B enterprise and software ecosystem, developing tailored payment solutions designed to enhance operational efficiency and customer experiences.
Fortis operates through a proprietary, integrated platform that delivers secure, end-to-end payment solutions to its client base. The company processes billions of dollars in payments annually, facilitating omnichannel payment experiences for businesses across multiple verticals. The platform's architecture enables software partners and developers to embed payment capabilities directly into their applications, reducing friction and complexity in payment workflows.
The investment proceeds will support Fortis's strategic priorities, including driving innovation and operational excellence, enhancing product and service offerings, accelerating mergers and acquisitions growth strategy, and scaling infrastructure to meet evolving customer demands. Trevor Rich, Partner at Lovell Minnick Partners, noted the firm's continued confidence in Fortis's founding vision, stating that LMP remains committed to providing both financial and operational support to advance the company's mission of delivering a "holistic commerce experience" to its customer base. This dual investment structure positions Fortis to compete more aggressively in the embedded payments market while supporting the broader digital transformation objectives of enterprise software and ERP ecosystems.
Lovell Minnick Partners, which initially invested in Fortis in December 2019, committed new equity capital alongside Audax to bolster the company's market standing. The dual investor structure reflects confidence in Fortis's growth trajectory and technological differentiation. Since LMP's initial investment, Fortis has expanded substantially across the B2B enterprise and software ecosystem, developing tailored payment solutions designed to enhance operational efficiency and customer experiences.
Fortis operates through a proprietary, integrated platform that delivers secure, end-to-end payment solutions to its client base. The company processes billions of dollars in payments annually, facilitating omnichannel payment experiences for businesses across multiple verticals. The platform's architecture enables software partners and developers to embed payment capabilities directly into their applications, reducing friction and complexity in payment workflows.
The investment proceeds will support Fortis's strategic priorities, including driving innovation and operational excellence, enhancing product and service offerings, accelerating mergers and acquisitions growth strategy, and scaling infrastructure to meet evolving customer demands. Trevor Rich, Partner at Lovell Minnick Partners, noted the firm's continued confidence in Fortis's founding vision, stating that LMP remains committed to providing both financial and operational support to advance the company's mission of delivering a "holistic commerce experience" to its customer base. This dual investment structure positions Fortis to compete more aggressively in the embedded payments market while supporting the broader digital transformation objectives of enterprise software and ERP ecosystems.
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