Butter Payments, a subscription payment fixer, has quietly been sold

Butter Payments, a company that helped businesses rescue failed subscription payments, has been sold. Its former chief executive, Charles Rosenblatt, said the company was purchased last month. The sale closed in September, according to the report, and the buyer has not been named.

What Butter did

When a customer's subscription payment fails, the business loses money even though the customer may still want the service. Butter helped companies figure out why a payment failed and how to fix it. Think of an expired card or a bank that declined the charge.

The company's story

Butter had raised nearly $40 million and peaked at about 53 employees. Rosenblatt pointed to intensifying competitive pressures as part of the backdrop to the sale. The material does not say what price was paid or what will happen to Butter's product, staff or customers.

What is not known

• Who bought Butter
• How much the buyer paid
• Whether the Butter service will keep running
• What current customers should expect

What to do

If you sell subscriptions, expect your payment provider to bundle failed-payment recovery into its own offering. Before paying for a separate tool, compare what your current plan already includes. If you used Butter, watch for a notice from the company about your service.