Fort Collins’ BillGo acquires Prism

FORT COLLINS — BillGo Inc., the Fort Collins-based financial tech company, acquired Redmond, Wash.-based Prism.

Prism is an app that tracks bills and pays them automatically on behalf of its customers. It has a network of more than 11,000 billers. BillGo looks to provide back-end technology for banks and payment centers to provide real-time bill payments for people, reducing lag time between making the payment and seeing that money leave the account and in turn reducing late fees and fines.

“There’s a difference between perception and reality in the payment space,” said Dan Holt, BillGo’s CEO, in a prepared statement. “With traditional bank bill pay, consumers make a payment and see money leave their account. That’s perception. The reality is, consumers don’t receive credit with the biller for 2-3 business days. With BillGo’s technology, payments happen in real time while maintaining the highest level of security.”

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The company added that by integrating the Prism app into its portfolio it will be able to provide the most advanced statements and bill presentation platform.

“Our rapid growth is a clear indicator for the need to process payments in real time,” Holt added. Prism’s existing biller network is the fuel we need to get to the next level. A stellar team with extensive knowledge in the bill payment industry is a game changer. Stay tuned for more great things to come.”

Prism by BillGo will continue to operate uninterrupted to its users. Its team will continue operating out of the Redmond office.

BillGo recently expanded its own Fort Collins office earlier this month and at the time said it was looking at acquisition opportunities.