Related Party Transactions

6 Months Ended

Jun. 30, 2022

Related Party Transactions [Abstract]

Related Party Transactions

Note 17 - Related Party Transactions

A member of the Company's Board of Directors is also an executive at a company (the "Related Party Customer") that purchases certain of Billtrust's services under an ongoing commercial relationship. During the three months ended June 30, 2022 and 2021 and the six months ended June 30, 2022 and 2021 revenues generated from the Related Party Customer were not material. At both June 30, 2022 and December 31, 2021 open receivable balances from the Related Party Customer were not material.

The Company has ongoing commercial agreements with several of Bain Capital Ventures, LLC's ("Bain") portfolio companies ("Portfolio Companies"). Bain is a greater than 5% shareholder of the Company's outstanding Common Stock at June 30, 2022, and one of the members of the Company's Board of Directors is also an executive at Bain. During the three months ended June 30, 2022 and 2021 and the six months ended June 30, 2022 and 2021 revenues generated from and expenses incurred to the Portfolio Companies were not material. At both June 30, 2022 and December 31, 2021 open payables to and open receivables from the Portfolio Companies were not material.

The sellers of Order2Cash, who remain employees with the Company, are 50% owners of a joint venture that provides outsourced managed services to Order2Cash as part of Order2Cash's product offerings. During the three and six months ended June 30, 2022, expenses incurred to the joint venture were $0.3 million and $0.7 million, respectively. At June 30, 2022, open net payables to the joint venture were not material.