BTRS - BTRS Holdings: Accumulating Along With Insiders

• Publicly birthed in the middle of the SPAC craze in early 2021, BTRS Holdings has lost some of its value since its peak in February.
• The accounts receivable solutions provider has developed an ecosystem of buyers, suppliers, banks, payment card issuers, and payment acceptance networks that should have wide appeal.
• Billtrust has a chance to be the market leader for mid-market/enterprise level customers with its stiffest competition coming from potential customers’ own in-house efforts.
• With a ~55.6 million share overhang from private equity interests, a clean balance sheet, plenty of blue sky, and insider buying, Billtrust merited further investigation.
• A full investment analysis is presented in the paragraphs below.

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