Repay Holdings Corporation announced it has entered into a definitive agreement to acquire KUBRA for approximately $372 million in an all-cash transaction, marking a significant step in its strategy to become a leading bill payment provider.
The deal will combine REPAY’s integrated payment processing platform with KUBRA’s customer communication and bill payment solutions, creating a scaled provider with reach across utilities, government, insurance, and other verticals. KUBRA currently serves more than 250 clients and reaches over 40% of households in the United States and Canada.
REPAY said the acquisition expands its vertical footprint and enhances its distribution capabilities, while enabling cross-selling opportunities across a broader set of services including billing, payments, communications, and core processing solutions. On a combined basis, the company expects to process more than $130 billion in annual payment volumes.
Financially, the combined business is expected to generate approximately $548 million in revenue and $178 million in adjusted EBITDA based on 2025 figures. REPAY also anticipates more than $15 million in annual run-rate cost synergies and over $5 million in technology savings within three years, along with incremental revenue opportunities by 2028.
The transaction will be funded through a combination of cash on hand and debt financing, including a $500 million term loan commitment and a $100 million revolving credit facility. REPAY expects post-transaction net leverage of approximately 4.0x, with a target to reduce it below 3.0x within 18 months.
The acquisition is subject to regulatory approvals in the U.S. and Canada and is expected to close in the second quarter of 2026.
KEY QUOTES:
“Today’s announcement advances REPAY on our transformational journey to become a leading bill payment provider. The combination brings together highly complementary go-to-market approaches, creating robust opportunities to enhance growth, while also deepening client experiences and driving operational and financial efficiencies.”
John Morris, Co-Founder And Chief Executive Officer, Repay Holdings Corporation
“We are excited to enter KUBRA’s next phase by joining REPAY and creating a scaled payments platform. REPAY will enhance value for our clients, while helping to further pursue growth opportunities in our end markets. I am thrilled about the opportunities this transaction provides for KUBRA and our team.”
Rick Watkin, President And Chief Executive Officer, KUBRA
