Xero has acquired Hubdoc, which makes document collection and management software, for $70 million in cash and Xero equity. The New Zealand-based cloud software company said this week Hubdoc, based in Toronto, Ont., will operate as a stand-alone unit.

Gusto has raised $140 million in Series C venture funding. The online payroll application company, which was launched in 2012, said proceeds will be used to invest in new features and additions to its platform.

Joe Kaplan, CEO of Paya (formerly Sage Payments) died while on vacation with his family in Bermuda on Friday, July 27, the company has announced. Kaplan was hired as CEO in October of Paya, which acquired by GTCR as it spun out from Sage.