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Avenu Acquires Interware for Payment Processing Tech

The private equity-backed deal brings in native payment processing capabilities for Avenu Insights & Analytics, whose software portfolio revolves around revenue-based activities in public-sector administration.

making a payment
Avenu Insights & Analytics, a company that provides revenue-focused software to government, has acquired a payment processing business.

The integration of Interware will give Avenu’s customers a way to consolidate payment processing, according to a press release. Avenu, which was created through private equity deals in 2017, sells a range of technology solutions for public administration work ranging from identifying untapped tax revenue to using cryptocurrency.

The company’s focus is on government administration that involves payments.

“Governments are seeing an increasing need for an integrated payment solution software offering to streamline their administrative and budget activities and automate workflow processes,” said Avenu CEO Paul Colangelo in the statement. “The combination of Avenu and Interware will provide governments with a centralized solution to maximize their efficiency while shaping a more robust citizen experience.”

Aside from payment processing, Interware also offers two software solutions: FundWorks, which handles financials such as utility billing and property taxes, and ClerkWorks, which handles common municipal clerk processes.

Avenu has more than 3,000 customers, while Interware maintains a client base of about 485 and is concentrated in the Northeast, California, Minnesota, Pennsylvania and Maryland, according to the statement.