REPAY, a provider of integrated payment processing solutions, announced the completion of its acquisition of KUBRA for $372 million in cash, a deal that strengthens the company’s position in the consumer bill payment market. The transaction follows the definitive agreement announced on March 30, 2026.
The acquisition significantly expands REPAY’s scale and reach. The combined company is expected to engage with more than 40% of U.S. and Canadian households each month and process more than $130 billion in annual payment volumes across recurring, non-discretionary billing categories.
REPAY said the transaction is expected to generate more than $15 million in annual run-rate cost synergies and more than $5 million in technology savings over the next three years through operational integration, platform consolidation, and scale efficiencies. The company expects to realize approximately $8 million of these expense synergies during 2026.
In addition to cost savings, REPAY expects the combined business to create more than $5 million in revenue opportunities by 2028 through cross-selling bill presentment, communications services, payment processing, and core technology solutions across its client base.
The company continues to project approximately 25% free cash flow accretion by 2028. REPAY also outlined a multi-year value creation roadmap detailing planned synergy realization and integration initiatives.
Following the acquisition, REPAY’s combined net leverage stands at approximately 4.0x. The company expects to reduce net leverage to below 3.0x within 18 months. The transaction was financed through a combination of debt financing and cash on hand, including a $500 million senior secured term loan and a $100 million undrawn revolving credit facility.
REPAY also raised its full-year 2026 financial outlook to reflect KUBRA’s contribution during the remaining seven months of the year. KUBRA is expected to contribute between $150 million and $154 million in revenue and between $27.5 million and $30 million in adjusted EBITDA during that period.
Updated 2026 guidance includes:
1.Revenue of $490 million to $500 million, up from the prior range of $340 million to $346 million.
2.Adjusted EBITDA of $168.5 million to $176 million, up from the prior range of $141 million to $146 million.
3.Free cash flow conversion of 30%.
4.Adjusted free cash flow conversion of 35%.
The company also announced plans to host an Investor Day in December 2026, where management expects to provide additional details regarding strategy, execution priorities, and long-term financial objectives.
KEY QUOTES:
“With the addition of KUBRA, REPAY expands our position as a leading Consumer Bill Payment Provider with the technology and market position to lead the digital journey across the payment ecosystem. We expect KUBRA will significantly increase our revenue, engage with over 40% of U.S. and Canadian households every month, and process over $130 billion in combined annual payment volumes as we serve non-discretionary categories with reoccurring billing cycles.”
John Morris, Co-Founder and Chief Executive Officer, REPAY
