SYDNEY: QuickFee Ltd. (ASX: QFE) has sold its U.S. Pay Now business to Aiwyn Inc., a KKR- and Bessemer-backed technology firm, for US$26.35 million (A$40 million), marking a strategic pivot toward core lending operations.
The deal, completed immediately, includes QuickFee’s ACH, card and Connect payment services, and values the unit at five times its FY25 revenue of US$5.3 million. Most QuickFee U.S. staff will transition to Aiwyn, which serves accounting firms with integrated payments, practice management and AI-driven tax solutions.
QuickFee will retain its U.S. Finance business and a loan book of US$7.5 million. Under a new reseller agreement, its financing product will be embedded into Aiwyn’s platform, offering expanded distribution across Aiwyn’s client base.
Chair Dale Smorgon called the transaction “a great outcome for shareholders and staff,” adding that the partnership with Aiwyn opens “a significant new growth channel” for QuickFee’s U.S. Finance offering.
Proceeds from the sale, net of a US$1.32 million escrow held for 12 months, are expected by Sept. 10. The board is evaluating options including capital returns, dividends, debt reduction and working capital allocation, with decisions to be announced before the November AGM.
Despite withdrawing FY26 earnings guidance pending tax and transaction cost finalization, QuickFee said its operating outlook remains positive, citing strong performance in Australia and growth potential in the U.S. loan book.
QuickFee was advised by Baker McKenzie and Navon Advisory.