Related Party Transactions

12 Months Ended

Dec. 31, 2021

13. Related Party Transactions

Related party payables consisted of the following:

	December 31,	December 31,
	2021	2020
Ventanex accrued earnout liability	$12,746,840	$4,800,000
cPayPlus accrued earnout liability	—	6,500,000
CPS accrued earnout liability	600,000	4,500,000
Kontrol accrued earnout liability	850,000	—
Payix accrued earnout liability	2,850,000	—
Other payables to related parties	347,285	11,597
	$17,394,125	$15,811,597

The Company incurred transaction costs on behalf of related parties of $8.2 million, $3.1 million and $1.3 million for the years ended December 31, 2021 and 2020, and the period from July 11, 2019 to December 31, 2019, respectively. These costs consist of retention bonuses and other compensation to employees, associated with the costs resulting from the integration of new businesses. The Predecessor incurred transaction costs on behalf of related parties of $6.8 million for the period from January 1, 2019 to July 10, 2019.

The Company held receivables from related parties of $0.3 million and $0.1 million as of December 31, 2021 and 2020, respectively. These amounts were due from employees, related to tax withholding on vesting of equity compensation. See Note 14. Share based compensation for more detail on these restricted share awards.

The Company owed $17.4 million and $15.8 million to related parties, in the form of contingent consideration payable to the sellers of Ventanex, CPS, BillingTree, Kontrol and Payix, who were employees of REPAY, as of December 31, 2021 and 2020, respectively. Further, the Company owed employees $0.0 million and $0.0 million for amounts paid on behalf of the Company as of December 31, 2021 and 2020, respectively.