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      <hr noshade="noshade" align="center" style="height: 4px; color: #000000; background-color: #000000; margin-left: auto; margin-right: auto; border: none;">As filed with the Securities and Exchange Commission on March 15, 2021</div>
    <div style="text-align: right; font-weight: bold;">Registration No. 333-</div>
    <div style="text-align: center;">
      <hr align="center" style="border: none; border-bottom: 1px solid black; border-top: 4px solid black; height: 10px; color: #ffffff; background-color: #ffffff; margin-left: auto; margin-right: auto;"></div>
    <div style="text-align: center; font-size: 14pt; font-weight: bold;">UNITED STATES</div>
    <div style="text-align: center; font-size: 14pt; font-weight: bold;">SECURITIES AND EXCHANGE COMMISSION</div>
    <div style="text-align: center; font-size: 12pt; font-weight: bold;">Washington, D.C. 20549</div>
    <div style="text-align: center; font-weight: bold;"> <br>
    </div>
    <div style="text-align: center; font-size: 18pt; font-weight: bold;">FORM S-8</div>
    <div style="text-align: center; font-weight: bold;">REGISTRATION STATEMENT</div>
    <div style="text-align: center; font-weight: bold;">UNDER</div>
    <div style="text-align: center; font-weight: bold;">THE SECURITIES ACT OF 1933</div>
    <div style="text-align: center;"><br>
    </div>
    <div style="text-align: center; font-size: 24pt; font-weight: bold;">BTRS HOLDINGS INC.</div>
    <div style="text-align: center;">(Exact name of registrant as specified in its charter)</div>
    <div style="text-align: center;"><br>
    </div>
    <table cellspacing="0" cellpadding="0" id="z9db384fe65db4eaa922282ce7ce6579f" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;">

        <tr>
          <td style="width: 49%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="text-align: center; font-weight: bold;">Delaware</div>
          </td>
          <td style="width: 2%; vertical-align: top;">&#160;</td>
          <td style="width: 49%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="text-align: center; font-weight: bold;">83-3780685</div>
          </td>
        </tr>
        <tr>
          <td style="width: 49%; vertical-align: top;">
            <div style="text-align: center;">(State or other jurisdiction of incorporation or organization)</div>
          </td>
          <td style="width: 2%; vertical-align: top;">&#160;</td>
          <td style="width: 49%; vertical-align: top;">
            <div style="text-align: center;">(IRS Employer Identification No.)</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <table cellspacing="0" cellpadding="0" border="0" id="z96fe1e9e45f14467a07948e865ea6cbd" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;">

        <tr>
          <td style="width: 49%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="text-align: center; font-weight: bold;">1009 Lenox Drive, Suite 101</div>
            <div style="text-align: center; font-weight: bold;">Lawrenceville, New Jersey</div>
          </td>
          <td style="width: 2%; vertical-align: top;">&#160;</td>
          <td style="width: 49%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="text-align: center; font-weight: bold;">08648</div>
          </td>
        </tr>
        <tr>
          <td style="width: 49%; vertical-align: top;">
            <div style="text-align: center;">(Address of Principal Executive Offices)</div>
          </td>
          <td style="width: 2%; vertical-align: top;">&#160;</td>
          <td style="width: 49%; vertical-align: top;">
            <div style="text-align: center;">(Zip Code)</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <div style="text-align: center; font-weight: bold;">BTRS Holdings Inc. 2020 Equity Incentive Plan</div>
    <div style="text-align: center; font-weight: bold;">BTRS Holdings Inc. 2020 Employee Stock Purchase Plan</div>
    <div style="text-align: center; font-weight: bold;">Factor Systems, Inc. (d/b/a Billtrust) 2014 Incentive Compensation Plan</div>
    <div style="text-align: center; font-weight: bold;">Factor Systems, Inc. (d/b/a Billtrust) 2003 Stock Incentive Plan</div>
    <div style="text-align: center;">(Full title of the plan)</div>
    <div style="text-align: center;"><br>
    </div>
    <div style="text-align: center; font-weight: bold;">Tel: (609) 235-1010</div>
    <div style="text-align: center;">(Telephone number, including area code, of agent for service)</div>
    <div><br>
    </div>
    <div>
      <div style="text-align: center; color: #000000; font-weight: bold;">Keith Omsberg</div>
      <div style="text-align: center; color: #000000; font-weight: bold;">General Counsel</div>
      <div style="text-align: center; color: #000000; font-weight: bold;">BTRS Holdings Inc.</div>
      <div style="text-align: center; color: #000000; font-weight: bold;">1009 Lenox Drive, Suite 101</div>
      <div style="text-align: center; color: #000000; font-weight: bold;">Lawrenceville, New Jersey 08648</div>
      <div style="text-align: center; color: #000000; font-weight: bold;">Tel: (609) 245-0714</div>
      <div style="text-align: center; color: #000000;">(Name, Address, Including Zip Code, and Telephone Number, Including Area Code, of Agent for Service)</div>
    </div>
    <div>
      <div><br>
      </div>
    </div>
    <div>
      <div style="text-align: center; color: #000000; font-weight: bold;">Copies to:</div>
      <div style="text-align: center; color: #000000; font-weight: bold;">Matthew Browne</div>
      <div style="text-align: center; color: #000000; font-weight: bold;">Cooley LLP</div>
      <div style="text-align: center; color: #000000; font-weight: bold;">500 Boylston Street</div>
      <div style="text-align: center; color: #000000; font-weight: bold;">Boston, Massachusetts 02116</div>
      <div style="text-align: center; color: #000000; font-weight: bold;">Tel: (617) 937-2300</div>
    </div>
    <div><br>
    </div>
    <div>Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of &#8220;large accelerated filer,&#8221; &#8220;accelerated
      filer,&#8221; &#8220;smaller reporting company,&#8221; and &#8220;emerging growth company&#8221; in Rule 12b-2 of the Exchange Act:</div>
    <div><br>
    </div>
    <table cellspacing="0" cellpadding="0" border="0" id="zfde66de947694c2b81e12067d8cc4065" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;">

        <tr>
          <td style="width: 16%; vertical-align: bottom;">
            <div>Large accelerated filer</div>
          </td>
          <td style="width: 2%; vertical-align: top;">
            <div>&#9744;</div>
          </td>
          <td style="width: 60%; vertical-align: bottom;">&#160;</td>
          <td style="width: 20%; vertical-align: bottom;">
            <div>Accelerated filer</div>
          </td>
          <td style="width: 2%; vertical-align: bottom;">
            <div>&#9744;</div>
          </td>
        </tr>
        <tr>
          <td style="width: 16%; vertical-align: bottom;">
            <div>Non-accelerated filer</div>
          </td>
          <td style="width: 2%; vertical-align: top;">
            <div>&#9746;</div>
          </td>
          <td style="width: 60%; vertical-align: bottom;">&#160;</td>
          <td style="width: 20%; vertical-align: bottom;">
            <div>Smaller reporting company</div>
          </td>
          <td style="width: 2%; vertical-align: bottom;">
            <div>&#9746;</div>
          </td>
        </tr>
        <tr>
          <td style="width: 16%; vertical-align: bottom;">&#160;</td>
          <td style="width: 2%; vertical-align: top;">&#160;</td>
          <td style="width: 60%; vertical-align: bottom;">&#160;</td>
          <td style="width: 20%; vertical-align: bottom;">
            <div>Emerging growth company</div>
          </td>
          <td style="width: 2%; vertical-align: bottom;">
            <div>&#9746;</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <div>If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 7(a)(2)(B) or the
      Securities Act. &#9744;</div>
    <div><br>
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    <div style="text-align: center; font-weight: bold;">CALCULATION OF REGISTRATION FEE</div>
    <div style="text-align: center;"><br>
    </div>
    <div>
      <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; color: #000000; width: 100%;" id="zc3b0ad2dcf274c648bb6f6b0aeba8c8a">

          <tr>
            <td valign="bottom" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="font-weight: bold;">Title of Securities to be Registered</div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);" colspan="2">
              <div style="text-align: center; font-weight: bold;">Amount to be registered<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">(1)</sup></div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; padding-bottom: 2px;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);" colspan="2">
              <div style="text-align: center; font-weight: bold;">Proposed maximum offering price per share</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; padding-bottom: 2px;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);" colspan="2">
              <div style="text-align: center; font-weight: bold;">Proposed maximum aggregate </div>
              <div style="text-align: center; font-weight: bold;">offering price</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; padding-bottom: 2px;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);" colspan="2">
              <div style="text-align: center; font-weight: bold;">Amount of registration fee</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; padding-bottom: 2px;" colspan="1">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 43.73%; background-color: rgb(204, 238, 255);">
              <div style="font-weight: bold;">2020 Equity Incentive Plan</div>
              <div>(Class 1 Common Stock, par value $0.0001 per share)</div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 0.74%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 0.74%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 10.2%; background-color: rgb(204, 238, 255);" colspan="1">
              <div>15,626,237</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 2.21%; background-color: rgb(204, 238, 255);" colspan="1">
              <div><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">(2)</sup>&#160;</div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 0.74%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1.47%; background-color: rgb(204, 238, 255);" colspan="1">
              <div>$</div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 7.74%; background-color: rgb(204, 238, 255);" colspan="1">
              <div>16.13</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 2.21%; background-color: rgb(204, 238, 255);" colspan="1">
              <div><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">(6)</sup>&#160;</div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 0.74%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1.11%; background-color: rgb(204, 238, 255);" colspan="1">
              <div>$</div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 12.78%; background-color: rgb(204, 238, 255);" colspan="1">
              <div>252,051,202.81</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 2.21%; background-color: rgb(204, 238, 255);" colspan="1">
              <div><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">(6)</sup>&#160;</div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 0.74%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1.11%; background-color: rgb(204, 238, 255);" colspan="1">
              <div>$</div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9.34%; background-color: rgb(204, 238, 255);" colspan="1">
              <div>27,498.79</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 2.21%; background-color: rgb(204, 238, 255);" colspan="1">
              <div><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">(6)</sup>&#160;</div>
            </td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 43.73%;">
              <div style="font-weight: bold;">2020 Employee Stock Purchase Plan</div>
              <div>(Class 1 Common Stock, par value $0.0001 per share)</div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 0.74%;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 0.74%;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 10.2%;" colspan="1">
              <div>1,452,623</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 2.21%;" colspan="1">
              <div><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">(3)</sup>&#160;</div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 0.74%;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1.47%;" colspan="1">
              <div>$</div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 7.74%;" colspan="1">
              <div>16.13</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 2.21%;" colspan="1">
              <div><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">(6)</sup>&#160;</div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 0.74%;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1.11%;" colspan="1">
              <div>$</div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 12.78%;" colspan="1">
              <div>23,430,808.99</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 2.21%;" colspan="1">
              <div><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">(6)</sup>&#160;</div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 0.74%;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1.11%;" colspan="1">
              <div>$</div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9.34%;" colspan="1">
              <div>2,556.30</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 2.21%;" colspan="1">
              <div><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">(6)</sup>&#160;</div>
            </td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 43.73%; background-color: rgb(204, 238, 255);">
              <div style="font-weight: bold;">2014 Incentive Compensation Plan</div>
              <div>(Class 1 Common Stock, par value $0.0001 per share)</div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 0.74%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 0.74%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 10.2%; background-color: rgb(204, 238, 255);" colspan="1">
              <div>13,962,065</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 2.21%; background-color: rgb(204, 238, 255);" colspan="1">
              <div><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">(4)</sup>&#160;</div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 0.74%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1.47%; background-color: rgb(204, 238, 255);" colspan="1">
              <div>$</div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 7.74%; background-color: rgb(204, 238, 255);" colspan="1">
              <div>3.47<br>
              </div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 2.21%; background-color: rgb(204, 238, 255);" colspan="1">
              <div><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">(7)</sup>&#160;</div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 0.74%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1.11%; background-color: rgb(204, 238, 255);" colspan="1">
              <div>$</div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 12.78%; background-color: rgb(204, 238, 255);" colspan="1">
              <div>48,448,365.55<br>
              </div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 2.21%; background-color: rgb(204, 238, 255);" colspan="1">
              <div><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">(7)</sup>&#160;</div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 0.74%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1.11%; background-color: rgb(204, 238, 255);" colspan="1">
              <div>$</div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9.34%; background-color: rgb(204, 238, 255);" colspan="1">
              <div>5,285.72<br>
              </div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 2.21%; background-color: rgb(204, 238, 255);" colspan="1">
              <div><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">(7)</sup>&#160;</div>
            </td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 43.73%; padding-bottom: 2px;">
              <div style="font-weight: bold;">2003 Stock Incentive Plan</div>
              <div>(Class 1 Common Stock, par value $0.0001 per share)</div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 0.74%; padding-bottom: 2px;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 0.74%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 10.2%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">
              <div>1,185,114</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 2.21%; padding-bottom: 2px;" colspan="1">
              <div><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">(5)</sup>&#160;</div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 0.74%; padding-bottom: 2px;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1.47%; padding-bottom: 2px;" colspan="1">
              <div>$</div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 7.74%; padding-bottom: 2px;" colspan="1">
              <div>0.53<br>
              </div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 2.21%; padding-bottom: 2px;" colspan="1">
              <div><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">(7)</sup>&#160;</div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 0.74%; padding-bottom: 2px;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1.11%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">
              <div>$</div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 12.78%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">
              <div>628,110.42<br>
              </div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 2.21%; padding-bottom: 2px;" colspan="1">
              <div><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">(7)</sup>&#160;</div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 0.74%; padding-bottom: 2px;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1.11%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">
              <div>$</div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9.34%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">
              <div>68.53</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 2.21%; padding-bottom: 2px;" colspan="1">
              <div><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">(7)</sup>&#160;</div>
            </td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 43.73%; padding-bottom: 4px; background-color: rgb(204, 238, 255);">
              <div style="font-weight: bold;">Total</div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 0.74%; padding-bottom: 4px; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 0.74%; border-bottom: 4px double rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 10.2%; border-bottom: 4px double rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">
              <div>32,226,039</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 2.21%; padding-bottom: 4px; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 0.74%; padding-bottom: 4px; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1.47%; padding-bottom: 4px; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 7.74%; padding-bottom: 4px; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 2.21%; padding-bottom: 4px; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 0.74%; padding-bottom: 4px; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1.11%; border-bottom: 4px double rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">
              <div>$</div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 12.78%; border-bottom: 4px double rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">
              <div>324,558,487.77<br>
              </div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 2.21%; padding-bottom: 4px; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 0.74%; padding-bottom: 4px; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1.11%; border-bottom: 4px double rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">
              <div>$</div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9.34%; border-bottom: 4px double rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">
              <div>35,409.33<br>
              </div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 2.21%; padding-bottom: 4px; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          </tr>

      </table>
    </div>
    <div> <br>
    </div>
    <table cellspacing="0" cellpadding="0" id="z88887e95778c43ab87f481134a9cc6ec" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

        <tr>
          <td style="width: 18pt; vertical-align: top; align: right;">(1)</td>
          <td style="width: auto; vertical-align: top;">
            <div>Pursuant to Rule 416(a) under the Securities Act of 1933, as amended (the &#8220;Securities Act&#8221;), this registration statement also covers an indeterminate number of additional shares that may be issued to adjust the number of shares issued
              pursuant to the plans described herein in the event of a stock dividend, stock split, reverse stock split, extraordinary dividend, extraordinary distribution, recapitalization, reorganization, merger, combination, consolidation, split-up,
              spin-off, combination, exchange of shares, rights offering, separation, reorganization, liquidation or similar event.</div>
          </td>
        </tr>

    </table>
    <div>&#160;</div>
    <table cellspacing="0" cellpadding="0" id="z7a68a47218454c638b52218d3f06df41" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

        <tr>
          <td style="width: 18pt; vertical-align: top; align: right;">(2)</td>
          <td style="width: auto; vertical-align: top;">
            <div>Represents 15,626,237 shares of the registrant&#8217;s Class 1 common stock currently reserved for issuance under the BTRS Holdings Inc. 2020 Equity Incentive Plan (the &#8220;2020 Plan&#8221;). Shares to be&#160; registered include up to 1,100,000 shares
              issuable pursuant to the Business Combination Agreement dated October 18, 2020 by and among the registrant, BT Merger Sub I, Inc., BT Merger Sub II, LLC and Factor Systems, Inc. (d/b/a Billtrust) (as amended, the &#8220;BCA&#8221;) for Earnout RSUs. To
              the extent that awards outstanding under the 2020 Plan are forfeited, cancelled, surrendered or terminated without issuance of shares, the shares of Class 1 common stock subject to such awards will be available for future issuance under the
              2020 Plan, other than those shares issuable for Earnout RSUs.<br>
            </div>
          </td>
        </tr>

    </table>
    <div>&#160;</div>
    <table cellspacing="0" cellpadding="0" id="z574d38151b13423b9bfaa5f8e0ec0ed7" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

        <tr>
          <td style="width: 18pt; vertical-align: top; align: right;">(3)</td>
          <td style="width: auto; vertical-align: top;">
            <div>Represents 1,452,623 shares of the registrant&#8217;s Class 1 common stock currently reserved for issuance under the BTRS Holdings Inc. 2020 Employee Stock Purchase Plan (the &#8220;2020 ESPP&#8221;).</div>
          </td>
        </tr>

    </table>
    <div>&#160;</div>
    <table cellspacing="0" cellpadding="0" id="z7ff5799070f94ab7a13f6eb157b406ac" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

        <tr>
          <td style="width: 18pt; vertical-align: top; align: right;">(4)</td>
          <td style="width: auto; vertical-align: top;">
            <div>Represents 13,962,065 shares of the registrant&#8217;s Class 1 common stock underlying awards previously granted under the Factor Systems, Inc. (d/b/a Billtrust) 2014 Incentive Compensation Plan (the &#8220;2014 Plan&#8221;), as assumed by the registrant on
              January 12, 2021 pursuant to the BCA.</div>
          </td>
        </tr>

    </table>
    <div>&#160;</div>
    <table cellspacing="0" cellpadding="0" id="z70b75444db6b4804ad27e4e4e298ad3c" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

        <tr>
          <td style="width: 18pt; vertical-align: top; align: right;">(5)</td>
          <td style="width: auto; vertical-align: top;">
            <div>Represents 1,185,114 shares of the registrant&#8217;s Class 1 common stock underlying awards previously granted under the Factor Systems, Inc. (d/b/a Billtrust) 2003 Stock Incentive Plan (the &#8220;2003 Plan&#8221;), as assumed by the registrant on January
              12, 2021 pursuant to the BCA.</div>
          </td>
        </tr>

    </table>
    <div>&#160;</div>
    <table cellspacing="0" cellpadding="0" id="z8c363da313dd4b468136bc296f70e764" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

        <tr>
          <td style="width: 18pt; vertical-align: top; align: right;">(6)</td>
          <td style="width: auto; vertical-align: top;">
            <div>Estimated pursuant to Rules 457(c) and 457(h) under the Securities Act, solely for the purposes of calculating the registration fee and based on the average of the high and low prices of the registrant&#8217;s Class 1 common stock as reported on
              the Nasdaq Global Select Market on March 10, 2021, which date is within five business days prior to the filing of this registration statement.</div>
          </td>
        </tr>

    </table>
    <div>&#160;</div>
    <table cellspacing="0" cellpadding="0" id="zc61375c26dd74f2bb1cac678728210fb" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

        <tr>
          <td style="width: 18pt; vertical-align: top; align: right;">(7)</td>
          <td style="width: auto; vertical-align: top;">
            <div>Estimated in accordance with Rule 457(h) of the Securities Act solely for purposes of calculating the registration fee and based on an average weighted exercise price.</div>
          </td>
        </tr>

    </table>
    <div>&#160;</div>
    <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
      <div style="text-align: center;" id="DSPFPageNumberArea"><font style="font-size: 8pt; font-weight: normal; font-style: normal;" id="DSPFPageNumber">II-2</font></div>
      <div id="DSPFPageBreak" style="page-break-after:always;">
        <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
    </div>
    <div style="text-align: center; font-weight: bold;">PART I</div>
    <div style="text-align: center;"><br>
    </div>
    <div style="text-align: center; font-weight: bold;">INFORMATION REQUIRED IN THE SECTION 10(a) PROSPECTUS</div>
    <div><br>
    </div>
    <div>The information required by Part I of Form S-8 to be contained in the Section 10(a) prospectus is omitted from this registration statement in accordance with Rule 428 under the Securities Act of 1933, as amended (the &#8220;Securities Act&#8221;). The
      document(s) containing the information specified in Part I will be sent or given to participants in the BTRS Holdings Inc. 2020 Equity Incentive Plan (the &#8220;2020 Plan&#8221;), participants in the BTRS Holdings Inc. 2020 Employee Stock Purchase Plan (the
      &#8220;2020 ESPP&#8221;), participants in the Factor Systems, Inc. (d/b/a Billtrust) 2014 Incentive Compensation Plan (the &#8220;2014 Plan&#8221;)&#160; and participants in the Factor Systems, Inc. (d/b/a Billtrust) 2003 Stock Incentive Plan (the &#8220;2003 Plan&#8221; and together with
      the 2020 Plan, the 2020 ESPP and the 2014 Plan, the &#8220;Plans&#8221;) as specified by Rule 428(b)(1) of the Securities Act. Such documents are not being filed with the Securities and Exchange Commission (the &#8220;Commission&#8221;) as part of this registration
      statement or as prospectuses or prospectus supplements pursuant to Rule 424 of the Securities Act. These documents and the documents incorporated by reference in the registration statement pursuant to Item 3 of Part II of this form, taken together,
      constitute a prospectus that meets the requirements of Section 10(a) of the Securities Act.</div>
    <div><br>
    </div>
    <div style="text-align: center; font-weight: bold;">PART II</div>
    <div style="text-align: center;"><br>
    </div>
    <div style="text-align: center; font-weight: bold;">INFORMATION REQUIRED IN THE REGISTRATION STATEMENT</div>
    <div><br>
    </div>
    <table cellspacing="0" cellpadding="0" id="zf527f73055834548b69219de7cd0ee91" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

        <tr>
          <td style="width: 45pt; vertical-align: top; font-weight: bold;">Item 3.</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div style="font-weight: bold;">Incorporation of Documents by Reference.</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <div>The following documents filed by the registrant with the Commission are hereby incorporated by reference in this registration statement:</div>
    <div style="text-indent: -36pt; margin-left: 72pt;"><br>
    </div>
    <table cellspacing="0" cellpadding="0" id="zccd73ee436cc464d9be8dad0cdfe9e4a" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

        <tr>
          <td style="width: 27pt;"><br>
          </td>
          <td style="width: 18pt; vertical-align: top; align: right; font-weight: bold;">&#9679;</td>
          <td style="width: auto; vertical-align: top;">
            <div>the registrant&#8217;s annual report on Form 10-K for the fiscal year ended <a href="https://www.sec.gov/Archives/edgar/data/1774155/000114036120006472/form10k.htm">December 31, 2019</a> filed with the Commission on March 20, 2020;</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <table cellspacing="0" cellpadding="0" id="z6a8fb7cd57d14b8eb564e721e22a57cb" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

        <tr>
          <td style="width: 27pt;"><br>
          </td>
          <td style="width: 18pt; vertical-align: top; align: right; font-weight: bold;">&#9679;</td>
          <td style="width: auto; vertical-align: top;">
            <div>the registrant&#8217;s quarterly reports on Form 10-Q for the quarters ended <a href="https://www.sec.gov/Archives/edgar/data/1774155/000114036120011110/form10q.htm">March 31, 2020</a>, <a href="https://www.sec.gov/Archives/edgar/data/1774155/000114036120018476/brhc10014066_10q.htm">June 30, 2020</a> and <a href="https://www.sec.gov/Archives/edgar/data/1774155/000114036120025661/brhc10016811_10q.htm">September 30, 2020</a>,
              filed with the Commission on May 8, 2020, August 14, 2020 and November 16, 2020, respectively;</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <table cellspacing="0" cellpadding="0" id="zc7a4fe9f7e934d8288d2d5e86a53aeee" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

        <tr>
          <td style="width: 27pt;"><br>
          </td>
          <td style="width: 18pt; vertical-align: top; align: right; font-weight: bold;">&#9679;</td>
          <td style="width: auto; vertical-align: top;">
            <div>the registrant&#8217;s current reports on Form 8-K filed with the Commission on <a href="https://www.sec.gov/Archives/edgar/data/1774155/000095014220001655/eh2000887_8k.htm">June 29, 2020</a>, <a href="https://www.sec.gov/Archives/edgar/data/1774155/000114036120023245/nc10016063x1_8k.htm">October 19, 2020</a>, <a href="https://www.sec.gov/Archives/edgar/data/1774155/000114036120028480/nt10016102x11_8k.htm">December 15, 2020</a>, <a href="https://www.sec.gov/Archives/edgar/data/1774155/000114036121000191/brhc10018633_8k.htm">January 5, 2021</a>, <a href="https://www.sec.gov/Archives/edgar/data/1774155/000114036121000886/nc10018795x2_8k.htm">January 12, 2021</a>, <a href="https://www.sec.gov/Archives/edgar/data/1774155/000114036121001212/nc10018795x1_8k.htm">January 14, 2021</a> and <a href="https://www.sec.gov/Archives/edgar/data/1774155/000114036121005832/brhc10020728_8k.htm">February 23, 2021</a>;</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <table cellspacing="0" cellpadding="0" id="zd1bea840adef479cb6c3fbf6e6f566b1" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

        <tr>
          <td style="width: 27pt;"><br>
          </td>
          <td style="width: 18pt; vertical-align: top; align: right; font-weight: bold;">&#9679;</td>
          <td style="width: auto; vertical-align: top;">
            <div>the registrant&#8217;s prospectus filed on <a href="https://www.sec.gov/Archives/edgar/data/1774155/000114036121004110/nt10019478x3_424b3.htm">February 10, 2021</a> pursuant to Rule 424(b) under the Securities Act, relating to the Registration
              Statement on Form S-1 (File No. <a href="https://www.sec.gov/Archives/edgar/data/1774155/000114036121003277/nt10019478x1_s1.htm">333-252698</a>), which contains audited financial statements for the Registrant&#8217;s latest fiscal year for which
              such statements have been filed; and</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <table cellspacing="0" cellpadding="0" id="z8b4327b95b674d1888ea934976927f32" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

        <tr>
          <td style="width: 27pt;"><br>
          </td>
          <td style="width: 18pt; vertical-align: top;">&#9679;</td>
          <td style="width: auto; vertical-align: top;">
            <div>the description of our Class 1 common stock, par value $0.0001 per share, set forth in our registration statement on Form S-4, filed with the Commission on <a href="https://www.sec.gov/Archives/edgar/data/1774155/000114036120023782/nt10016102x1_s4.htm">October 26, 2020</a>, as amended, including any further amendments thereto or reports filed for the purposes of updating this description.</div>
          </td>
        </tr>

    </table>
    <div style="text-indent: -36pt; margin-left: 72pt;"><br>
    </div>
    <div>All reports and other documents filed by the registrant pursuant to Section 13(a), 13(c), 14 or 15(d) of the Securities Exchange Act of 1934, as amended (the &#8220;Exchange Act&#8221;), other than current reports furnished under Item 2.02 and Item 7.01 of
      Form 8-K and any exhibits furnished on such form that relate to such items, after the date of this registration statement, and prior to the filing of a post-effective amendment that indicates that all securities offered hereby have been sold or that
      deregisters all securities then remaining unsold, shall be deemed to be incorporated by reference herein and to be a part of this registration statement from the date of filing of such reports and documents. Any statement contained in a document
      incorporated or deemed to be incorporated herein by reference shall be deemed to be modified or superseded for purposes of this registration statement to the extent that a statement herein or in any other subsequently filed document that also is or
      is deemed to be incorporated by reference herein modifies or supersedes such statement. Any such statement so modified or superseded shall not constitute a part of this registration statement, except as so modified or superseded.</div>
    <div><br>
    </div>
    <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
      <div style="text-align: center;" id="DSPFPageNumberArea"><font style="font-size: 8pt; font-weight: normal; font-style: normal;" id="DSPFPageNumber">II-3</font></div>
      <div id="DSPFPageBreak" style="page-break-after:always;">
        <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
    </div>
    <table cellspacing="0" cellpadding="0" id="z54c053edc89e40deaab7feb58da9f9d3" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

        <tr>
          <td style="width: 45pt; vertical-align: top; font-weight: bold;">Item 4.</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div style="font-weight: bold;">Description of Securities</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <div>Not applicable.</div>
    <div><br>
    </div>
    <table cellspacing="0" cellpadding="0" id="z4c25dbb5007f4f5486450e96e5cfa3c1" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

        <tr>
          <td style="width: 45pt; vertical-align: top; font-weight: bold;">Item 5.</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div style="font-weight: bold;">Interests of Named Experts and Counsel</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <div>Not applicable.</div>
    <div><br>
    </div>
    <table cellspacing="0" cellpadding="0" id="zf9c7e1bbf5c04a5490b1b52ff16603db" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

        <tr>
          <td style="width: 45pt; vertical-align: top; font-weight: bold;">Item 6.</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div style="font-weight: bold;">Indemnification of Directors and Officers</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <div>
      <div style="text-indent: 20pt; color: rgb(0, 0, 0);">Section 145(a) of the Delaware General Corporate Law (the &#8220;DGCL&#8221;) provides, in general, that a corporation may indemnify any person who was or is a party to or is threatened to be made a party to
        any threatened, pending or completed action, suit or proceeding, whether civil, criminal, administrative or investigative (other than an action by or in the right of the corporation), because he or she is or was a director, officer, employee or
        agent of the corporation, or is or was serving at the request of the corporation as a director, officer, employee or agent of another corporation, partnership, joint venture, trust or other enterprise, against expenses (including attorneys&#8217; fees),
        judgments, fines and amounts paid in settlement actually and reasonably incurred by the person in connection with such action, suit or proceeding, if he or she acted in good faith and in a manner he or she reasonably believed to be in or not
        opposed to the best interests of the corporation and, with respect to any criminal action or proceeding, had no reasonable cause to believe his or her conduct was unlawful.</div>
      <div><br>
      </div>
      <div style="text-indent: 20pt; color: rgb(0, 0, 0);">Section 145(b) of the DGCL provides, in general, that a corporation may indemnify any person who was or is a party or is threatened to be made a party to any threatened, pending or completed action
        or suit by or in the right of the corporation to procure a judgment in its favor because the person is or was a director, officer, employee or agent of the corporation, or is or was serving at the request of the corporation as a director, officer,
        employee or agent of another corporation, partnership, joint venture, trust or other enterprise, against expenses (including attorneys&#8217; fees) actually and reasonably incurred by the person in connection with the defense or settlement of such action
        or suit if he or she acted in good faith and in a manner he or she reasonably believed to be in or not opposed to the best interests of the corporation, except that no indemnification shall be made with respect to any claim, issue or matter as to
        which he or she shall have been adjudged to be liable to the corporation unless and only to the extent that the Court of Chancery or other adjudicating court determines that, despite the adjudication of liability but in view of all of the
        circumstances of the case, he or she is fairly and reasonably entitled to indemnity for such expenses that the Court of Chancery or other adjudicating court shall deem proper.</div>
      <div><br>
      </div>
      <div style="text-indent: 20pt; color: rgb(0, 0, 0);">Section 145(g) of the DGCL provides, in general, that a corporation may purchase and maintain insurance on behalf of any person who is or was a director, officer, employee or agent of the
        corporation, or is or was serving at the request of the corporation as a director, officer, employee or agent of another corporation, partnership, joint venture, trust or other enterprise against any liability asserted against such person and
        incurred by such person in any such capacity, or arising out of his or her status as such, whether or not the corporation would have the power to indemnify the person against such liability under Section 145 of the DGCL.</div>
      <div><br>
      </div>
      <div style="text-indent: 20pt; color: rgb(0, 0, 0);">Additionally, our Second Amended and Restated Certificate of Incorporation (the &#8220;Certificate of Incorporation&#8221;) eliminates our directors&#8217; liability for monetary damages to the fullest extent
        permitted by applicable law. The DGCL provides that directors of a corporation will not be personally liable for monetary damages for breach of their fiduciary duties as directors, except for liability:</div>
      <div><br>
      </div>
    </div>
    <table cellspacing="0" cellpadding="0" id="zd540d4bca7024ae3a2da918f6bff13a5" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

        <tr>
          <td style="width: 18pt;"><br>
          </td>
          <td style="width: 18pt; vertical-align: top; align: right; font-weight: bold;">&#9679;</td>
          <td style="width: auto; vertical-align: top;">
            <div><font style="color: #000000;">for any </font>transaction from which the director derives an improper personal benefit;</div>
          </td>
        </tr>

    </table>
    <table cellspacing="0" cellpadding="0" id="za56aa6d9c19d401dbbfc69423cc8c81e" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

        <tr>
          <td style="width: 18pt;"><br>
          </td>
          <td style="width: 18pt; vertical-align: top; align: right; font-weight: bold;">&#9679;</td>
          <td style="width: auto; vertical-align: top;">
            <div>for any act or omission not in good faith or that involves intentional misconduct or a knowing violation of law;</div>
          </td>
        </tr>

    </table>
    <table cellspacing="0" cellpadding="0" id="z8b4190eddc96461a889de64ea8e49a87" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

        <tr>
          <td style="width: 18pt;"><br>
          </td>
          <td style="width: 18pt; vertical-align: top; align: right; font-weight: bold;">&#9679;</td>
          <td style="width: auto; vertical-align: top;">
            <div>for any unlawful payment of dividends or redemption of shares; or</div>
          </td>
        </tr>

    </table>
    <table cellspacing="0" cellpadding="0" id="zb696bdf45ffc4920a8fdc5b52a18c63a" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

        <tr>
          <td style="width: 18pt;"><br>
          </td>
          <td style="width: 18pt; vertical-align: top;">&#9679;</td>
          <td style="width: auto; vertical-align: top;">
            <div>for any breach<font style="color: rgb(0, 0, 0);"> of a director&#8217;s duty of loyalty to the corporation or its stockholders.</font></div>
          </td>
        </tr>

    </table>
    <div>
      <div><br>
      </div>
      <div style="color: rgb(0, 0, 0);">If the DGCL is amended to authorize corporate action further eliminating or limiting the personal liability of directors, then the liability of our directors will be eliminated or limited to the fullest extent
        permitted by the DGCL, as so amended.</div>
    </div>
    <div>
      <div><br>
      </div>
    </div>
    <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
      <div style="text-align: center;" id="DSPFPageNumberArea"><font style="font-size: 8pt; font-weight: normal; font-style: normal;" id="DSPFPageNumber">II-4</font></div>
      <div id="DSPFPageBreak" style="page-break-after:always;">
        <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
    </div>
    <div>
      <div style="text-indent: 20pt; color: rgb(0, 0, 0);">The Certificate of Incorporation authorizes us to indemnify and advance expenses to, to the fullest extent permitted by applicable law, our directors, officers and agents. We maintain a directors&#8217;
        and officers&#8217; insurance policy pursuant to which our directors and officers are insured against liability for actions taken in their capacities as directors and officers. Finally, the Certificate of Incorporation prohibits any retroactive changes
        to the rights or protections or that increase the liability of any director in effect at the time of the alleged occurrence of any act or omission to act giving rise to liability or indemnification.</div>
      <div><br>
      </div>
      <div style="text-indent: 20pt; color: rgb(0, 0, 0);">In addition, we have entered into separate indemnification agreements with our directors and officers. These agreements, among other things, require us to indemnify our directors and officers for
        certain expenses, including attorneys&#8217; fees, judgments, fines and settlement amounts incurred by a director or officer in any action or proceeding arising out of their services as one of our directors or officers or any other company or enterprise
        to which the person provides services at our request.</div>
      <div><br>
      </div>
      <div style="text-indent: 20pt; color: rgb(0, 0, 0);">We believe these provisions in the Certificate of Incorporation are necessary to attract and retain qualified persons as directors and officers.</div>
    </div>
    <div><br>
    </div>
    <table cellspacing="0" cellpadding="0" id="z9d070fd5941f4d188fa74bdf8654a2c5" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

        <tr>
          <td style="width: 45pt; vertical-align: top; font-weight: bold;">Item 7.</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div style="font-weight: bold;">Exemption from Registration Claimed</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <div>Not applicable.</div>
    <div><br>
    </div>
    <table cellspacing="0" cellpadding="0" id="ze460183af52345608f80755a325b282d" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

        <tr>
          <td style="width: 45pt; vertical-align: top; font-weight: bold;">Item 8.</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div style="font-weight: bold;">Exhibits.</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <table cellspacing="0" cellpadding="0" border="0" id="z25b056e087e0487387afc12e21015f84" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;">

        <tr>
          <td style="width: 10%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="font-weight: bold;">Exhibit</div>
            <div style="font-weight: bold;"> No.</div>
          </td>
          <td style="width: 2%; vertical-align: top;">&#160;</td>
          <td style="width: 88%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="text-align: center; font-weight: bold;">Description</div>
          </td>
        </tr>
        <tr>
          <td style="width: 10%; vertical-align: top; background-color: rgb(204, 238, 255);">
            <div style="text-align: center;"><a href="https://www.sec.gov/Archives/edgar/data/1774155/000114036121001212/nc10018795x1_ex3-1.htm">4.1</a></div>
          </td>
          <td style="width: 2%; vertical-align: top; background-color: rgb(204, 238, 255);">&#160;</td>
          <td style="width: 88%; vertical-align: top; color: rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
            <div>Second Amended and Restated Certificate of Incorporation of the Registrant, dated January 12, 2021 (incorporated by reference to Exhibit 3.1 to the Registrant&#8217;s Current Report on Form 8-K, filed with the Securities and Exchange Commission
              on January 14, 2021).</div>
          </td>
        </tr>
        <tr>
          <td style="width: 10%; vertical-align: top;">
            <div style="text-align: center;"><a href="https://www.sec.gov/Archives/edgar/data/1774155/000114036121001212/nc10018795x1_ex3-2.htm">4.2</a></div>
          </td>
          <td style="width: 2%; vertical-align: top;">&#160;</td>
          <td style="width: 88%; vertical-align: top; color: rgb(0, 0, 0);">
            <div>Amended and Restated Bylaws of the Registrant, dated January 12, 2021 (incorporated by reference to Exhibit 3.2 to the Registrant&#8217;s Current Report on Form 8-K, filed with the Securities and Exchange Commission on January 14, 2021).</div>
          </td>
        </tr>
        <tr>
          <td style="width: 10%; vertical-align: top; background-color: rgb(204, 238, 255);">
            <div style="text-align: center;"><a href="brhc10021771_ex5-1.htm">5.1</a></div>
          </td>
          <td style="width: 2%; vertical-align: top; background-color: rgb(204, 238, 255);">&#160;</td>
          <td style="width: 88%; vertical-align: top; background-color: rgb(204, 238, 255);">
            <div style="color: rgb(0, 0, 0);">Opinion of Cooley LLP.</div>
          </td>
        </tr>
        <tr>
          <td style="width: 10%; vertical-align: top;">
            <div style="text-align: center;"><a href="brhc10021771_ex23-1.htm">23.1</a></div>
          </td>
          <td style="width: 2%; vertical-align: top;">&#160;</td>
          <td style="width: 88%; vertical-align: top;">
            <div>Consent of Marcum LLP, independent registered public accounting firm of BTRS Holdings Inc. (f/k/a South Mountain Merger Corp.)<font style="color: rgb(0, 0, 255);">.</font></div>
          </td>
        </tr>
        <tr>
          <td style="width: 10%; vertical-align: top; background-color: rgb(204, 238, 255);">
            <div style="text-align: center;"><a href="brhc10021771_ex23-2.htm">23.2</a></div>
          </td>
          <td style="width: 2%; vertical-align: top; background-color: rgb(204, 238, 255);">&#160;</td>
          <td style="width: 88%; vertical-align: top; background-color: rgb(204, 238, 255);">
            <div style="color: #0000FF;"><font style="color: rgb(0, 0, 0);">Consent of BDO USA, LLP, independent registered public accounting firm of </font><font style="color: rgb(0, 0, 0);">Factor Systems, Inc. (d/b/a Billtrust) (now known as BTRS
                Holdings Inc.)</font></div>
          </td>
        </tr>
        <tr>
          <td style="width: 10%; vertical-align: top;">
            <div style="text-align: center;"><a href="brhc10021771_ex5-1.htm">23.4</a></div>
          </td>
          <td style="width: 2%; vertical-align: top;">&#160;</td>
          <td style="width: 88%; vertical-align: top; color: rgb(0, 0, 0);">
            <div>Consent of Cooley LLP (included in Exhibit 5.1).</div>
          </td>
        </tr>
        <tr>
          <td style="width: 10%; vertical-align: top; background-color: rgb(204, 238, 255);">
            <div style="text-align: center;"><a href="#POWEROFATTORNEY">24.1</a></div>
          </td>
          <td style="width: 2%; vertical-align: top; background-color: rgb(204, 238, 255);">&#160;</td>
          <td style="width: 88%; vertical-align: top; color: rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
            <div>Power of Attorney (contained on the signature page hereto).</div>
          </td>
        </tr>
        <tr>
          <td style="width: 10%; vertical-align: top;">
            <div style="text-align: center;"><a href="https://www.sec.gov/Archives/edgar/data/1774155/000114036120026628/nt10016102x5_s4a.htm#tANNEXE">99.1</a></div>
          </td>
          <td style="width: 2%; vertical-align: top;">&#160;</td>
          <td style="width: 88%; vertical-align: top;">
            <div>BTRS Holdings Inc. 2020 Equity Incentive Plan (incorporated by reference to Exhibit 10.4 to the Registration Statement on Form S-4 filed on November 25, 2020).</div>
          </td>
        </tr>
        <tr>
          <td style="width: 10%; vertical-align: top; background-color: rgb(204, 238, 255);">
            <div style="text-align: center;"><a href="https://www.sec.gov/Archives/edgar/data/1774155/000114036120026628/nt10016102x5_s4a.htm#tANNEXF">99.2</a></div>
          </td>
          <td style="width: 2%; vertical-align: top; background-color: rgb(204, 238, 255);">&#160;</td>
          <td style="width: 88%; vertical-align: middle; background-color: rgb(204, 238, 255);">
            <div>BTRS Holdings Inc. 2020 Employee Stock Purchase Plan (incorporated by reference to Exhibit 10.5 to the Registration Statement on Form S-4, filed with the Securities and Exchange Commission on November 25, 2020).</div>
          </td>
        </tr>
        <tr>
          <td style="width: 10%; vertical-align: top;">
            <div style="text-align: center;"><a href="https://www.sec.gov/Archives/edgar/data/1774155/000114036120023782/nt10016102x1_ex10-14.htm">99.3</a></div>
          </td>
          <td style="width: 2%; vertical-align: top;">&#160;</td>
          <td style="width: 88%; vertical-align: middle;">
            <div>Factor Systems, Inc. (d/b/a Billtrust) 2014 Incentive Compensation Plan (incorporated by reference to Exhibit 10.14 to the Registration Statement on Form S-4, filed with the Securities and Exchange Commission on November 25, 2020).</div>
          </td>
        </tr>
        <tr>
          <td style="width: 10%; vertical-align: top; background-color: rgb(204, 238, 255);">
            <div style="text-align: center;"><a href="https://www.sec.gov/Archives/edgar/data/1774155/000114036120023782/nt10016102x1_ex10-13.htm">99.4</a></div>
          </td>
          <td style="width: 2%; vertical-align: top; background-color: rgb(204, 238, 255);">&#160;</td>
          <td style="width: 88%; vertical-align: middle; background-color: rgb(204, 238, 255);">
            <div>Factor Systems, Inc. (d/b/a Billtrust) 2003 Stock Incentive Plan (incorporated by reference to Exhibit 10.13 to the Registration Statement on Form S-4, filed with the Securities and Exchange Commission on November 25, 2020).</div>
          </td>
        </tr>
        <tr>
          <td style="width: 10%; vertical-align: top;">
            <div style="text-align: center;"><a href="brhc10021771_ex99-5.htm"></a><a href="brhc10021771_ex99-5.htm">99.5</a></div>
          </td>
          <td style="width: 2%; vertical-align: top;">&#160;</td>
          <td style="width: 88%; vertical-align: top;">
            <div>Forms of Stock Option Grant Notice and Stock Option Agreement under the BTRS Holdings Inc. 2020 Equity Incentive Plan.</div>
          </td>
        </tr>
        <tr>
          <td style="width: 10%; vertical-align: top; background-color: rgb(204, 238, 255);">
            <div style="text-align: center;"><a href="brhc10021771_ex99-6.htm">99.6</a></div>
          </td>
          <td style="width: 2%; vertical-align: top; background-color: rgb(204, 238, 255);">&#160;</td>
          <td style="width: 88%; vertical-align: top; background-color: rgb(204, 238, 255);">
            <div>Forms of RSU Award Grant Notice and RSU Award Agreement under the BTRS Holdings Inc. 2020 Equity Incentive Plan.</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
      <div style="text-align: center;" id="DSPFPageNumberArea"><font style="font-size: 8pt; font-weight: normal; font-style: normal;" id="DSPFPageNumber">II-5</font></div>
      <div id="DSPFPageBreak" style="page-break-after:always;">
        <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
    </div>
    <table cellspacing="0" cellpadding="0" id="z7ff76d42568d404b931e0fee7505890d" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

        <tr>
          <td style="width: 45pt; vertical-align: top; font-weight: bold;">Item 9.</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div style="font-weight: bold;">Undertakings.</div>
          </td>
        </tr>

    </table>
    <div style="text-indent: -36pt; margin-left: 72pt;"><br>
    </div>
    <table cellspacing="0" cellpadding="0" id="z627b6e6fa93642e28fcfd83ce70c644d" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

        <tr>
          <td style="width: 45pt;"><br>
          </td>
          <td style="width: 36pt; vertical-align: top; align: right;">(a)</td>
          <td style="width: auto; vertical-align: top;">
            <div>The undersigned registrant hereby undertakes:</div>
          </td>
        </tr>

    </table>
    <div style="text-indent: -36pt; margin-left: 108pt;"><br>
    </div>
    <table cellspacing="0" cellpadding="0" id="z9f0a03f0829d4fe2807349b72e9db485" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

        <tr>
          <td style="width: 81pt;"><br>
          </td>
          <td style="width: 36pt; vertical-align: top; align: right;">(1)</td>
          <td style="width: auto; vertical-align: top;">
            <div>To file, during any period in which offers or sales are being made, a post-effective amendment to this registration statement:</div>
          </td>
        </tr>

    </table>
    <div style="text-indent: -36pt; margin-left: 144pt;"><br>
    </div>
    <table cellspacing="0" cellpadding="0" id="z847155bc68c4411e93e8f213b1ee0839" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

        <tr>
          <td style="width: 117pt;"><br>
          </td>
          <td style="width: 36pt; vertical-align: top; align: right;">(i)</td>
          <td style="width: auto; vertical-align: top;">
            <div>to include any prospectus required by Section 10(a)(3) of the Securities Act;</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <table cellspacing="0" cellpadding="0" id="z2f24560366e04cd8b25493cf2d262ce0" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

        <tr>
          <td style="width: 117pt;"><br>
          </td>
          <td style="width: 36pt; vertical-align: top; align: right;">(ii)</td>
          <td style="width: auto; vertical-align: top;">
            <div>to reflect in the prospectus any facts or events arising after the effective date of this registration statement (or the most recent post-effective amendment hereof) which, individually or in the aggregate, represent a fundamental change
              in the information set forth in this registration statement. Notwithstanding the foregoing, any increase or decrease in volume of securities offered (if the total dollar value of securities offered would not exceed that which was registered)
              and any deviation from the low or high end of the estimated maximum offering range may be reflected in the form of prospectus filed with the Commission pursuant to Rule 424(b) if, in the aggregate, the changes in volume and price represent no
              more than 20% change in the maximum aggregate offering price set forth in the &#8220;Calculation of Registration Fee&#8221; table in the effective registration statement;</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <table cellspacing="0" cellpadding="0" id="zbc1ed8dead374cd6bb2abfd1d699dabb" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

        <tr>
          <td style="width: 117pt;"><br>
          </td>
          <td style="width: 36pt; vertical-align: top; align: right;">(iii)</td>
          <td style="width: auto; vertical-align: top;">
            <div>to include any material information with respect to the plan of distribution not previously disclosed in this registration statement or any material change to such information in this registration statement;</div>
          </td>
        </tr>

    </table>
    <div style="margin-left: 108pt;"><br>
    </div>
    <div style="margin-left: 117pt;">provided, however, that paragraphs (a)(1)(i) and (a)(1)(ii) do not apply if the information required to be included in a post-effective amendment by those paragraphs is contained in periodic reports filed with or
      furnished to the Commission by the registrant pursuant to Section 13 or Section 15(d) of the Exchange Act that are incorporated by reference in the registration statement.</div>
    <div style="text-indent: -36pt; margin-left: 108pt;"><br>
    </div>
    <table cellspacing="0" cellpadding="0" id="zf3567836ae3c4950aab9d0542f6d8a7f" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

        <tr>
          <td style="width: 81pt;"><br>
          </td>
          <td style="width: 36pt; vertical-align: top; align: right;">(2)</td>
          <td style="width: auto; vertical-align: top;">
            <div>That, for the purpose of determining any liability under the Securities Act, each such post-effective amendment shall be deemed to be a new registration statement relating to the securities offered therein, and the offering of such
              securities at that time shall be deemed to be the initial bona fide offering thereof.</div>
          </td>
        </tr>

    </table>
    <div style="text-indent: -36pt; margin-left: 108pt;"><br>
    </div>
    <table cellspacing="0" cellpadding="0" id="z16c6ba6007844778bbcc014dff59da58" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

        <tr>
          <td style="width: 81pt;"><br>
          </td>
          <td style="width: 36pt; vertical-align: top; align: right;">(3)</td>
          <td style="width: auto; vertical-align: top;">
            <div>To remove from registration by means of a post-effective amendment any of the securities being registered which remain unsold at the termination of the offering.</div>
          </td>
        </tr>

    </table>
    <div style="text-indent: -36pt; margin-left: 72pt;"><br>
    </div>
    <table cellspacing="0" cellpadding="0" id="z35bf6f032aa342938d2e93b5acd56344" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

        <tr>
          <td style="width: 45pt;"><br>
          </td>
          <td style="width: 36pt; vertical-align: top; align: right;">(b)</td>
          <td style="width: auto; vertical-align: top;">
            <div>The undersigned registrant hereby undertakes that, for purposes of determining any liability under the Securities Act, each filing of the registrant&#8217;s annual report pursuant to Section 13(a) or Section 15(d) of the Exchange Act (and, where
              applicable, each filing of an employee benefit plan&#8217;s annual report pursuant to Section 15(d) of the Exchange Act) that is incorporated by reference in this registration statement shall be deemed to be a new registration statement relating to
              the securities offered therein, and the offering of such securities at that time shall be deemed to be the initial bona fide offering thereof.</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <table cellspacing="0" cellpadding="0" id="zaf6f6b646f18474faf8f086daab839a1" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

        <tr>
          <td style="width: 45pt;"><br>
          </td>
          <td style="width: 36pt; vertical-align: top; align: right;">(c)</td>
          <td style="width: auto; vertical-align: top;">
            <div>Insofar as indemnification for liabilities arising under the Securities Act may be permitted to directors, officers and controlling persons of the registrant pursuant to the foregoing provisions, or otherwise, the registrant has been
              advised that in the opinion of the Commission such indemnification is against public policy as expressed in the Securities Act and is, therefore, unenforceable. In the event that a claim for indemnification against such liabilities (other
              than the payment by the registrant of expenses incurred or paid by a director, officer or controlling person of the registrant in the successful defense of any action, suit or proceeding) is asserted by such director, officer or controlling
              person in connection with the securities being registered, the registrant will, unless in the opinion of its counsel the matter has been settled by controlling precedent, submit to a court of appropriate jurisdiction the question whether such
              indemnification by it is against public policy as expressed in the Securities Act and will be governed by the final adjudication of such issue.</div>
          </td>
        </tr>

    </table>
    <div style="text-indent: -36pt; margin-left: 72pt;"><br>
    </div>
    <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
      <div style="text-align: center;" id="DSPFPageNumberArea"><font style="font-size: 8pt; font-weight: normal; font-style: normal;" id="DSPFPageNumber">II-6</font></div>
      <div id="DSPFPageBreak" style="page-break-after:always;">
        <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
    </div>
    <div style="text-align: center; font-weight: bold;">SIGNATURES</div>
    <div><br>
    </div>
    <div>Pursuant to the requirements of the Securities Act of 1933, as amended, the registrant certifies that it has reasonable grounds to believe that it meets all of the requirements for filing on Form S-8, and has duly caused this registration
      statement to be signed on its behalf by the undersigned, thereunto duly authorized, in the City of Lawrenceville, State of New Jersey, on March 15, 2021.</div>
    <div style="margin-left: 216pt;"><br>
    </div>
    <table cellspacing="0" cellpadding="0" border="0" id="zafd4391e3b304b5a8eb8391cc907e57b" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;">

        <tr>
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            <div>BTRS HOLDINGS INC.</div>
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          <td style="width: 50%; vertical-align: top;">&#160;</td>
          <td style="width: 5%; vertical-align: top;">&#160;</td>
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            <div>By:</div>
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          <td style="width: 45%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">
            <div>/s/ Flint A. Lane</div>
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        </tr>
        <tr>
          <td style="width: 50%; vertical-align: top;">&#160;</td>
          <td style="width: 5%; vertical-align: top;">
            <div>Name:</div>
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            <div>Flint A. Lane</div>
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        <tr>
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            <div>Title:</div>
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            <div>Chief Executive Officer and Chairman of </div>
            <div>the Board of Directors</div>
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    <div style="text-align: center; font-weight: bold;"><a name="POWEROFATTORNEY"><!--Anchor--></a>POWER OF ATTORNEY</div>
    <div><br>
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    <div style="color: #000000;">KNOW ALL PERSONS BY THESE PRESENTS, that each person whose signature appears below hereby constitutes and appoints Flint A. Lane, Mark Shifke and Andrew Herning, and each of them, his or her true and lawful
      attorneys-in-fact and agents, each with full power of substitution and resubstitution, for him or her and in his or her name, place and stead, in any and all capacities, to sign any and all amendments, including post-effective amendments, to this
      Registration Statement, and any registration statement relating to the offering covered by this Registration Statement and filed pursuant to Rule 462(b) under the Securities Act of 1933, as amended, and to file the same, with exhibits thereto and
      other documents in connection therewith, with the Securities and Exchange Commission, granting unto said attorneys-in-fact and agents, and each of them, full power and authority to do and perform each and every act and thing requisite and necessary
      to be done, as fully for all intents and purposes as he or she might or could do in person, hereby ratifying and confirming all that each of said attorneys-in-fact and agents, or his or her substitute or substitutes may lawfully do or cause to be
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    <div>Pursuant to the requirements of the Securities Act of 1933, as amended, this&#160; registration statement has been signed below by the following persons in the capacities and on the date indicated.</div>
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            <div style="text-align: center;">/s/ <font style="color: rgb(0, 0, 0);">Flint A. Lane</font></div>
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            <div>Chief Executive Officer and Chairman of the Board of Directors</div>
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          <td nowrap="nowrap" style="width: 2%; vertical-align: bottom;">&#160;</td>
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            <div style="text-align: center;">March 15, 2021</div>
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          <td style="width: 26%; vertical-align: bottom;">
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            <div>Chief Financial Officer</div>
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          <td nowrap="nowrap" style="width: 2%; vertical-align: bottom;">&#160;</td>
          <td style="width: 20%; vertical-align: bottom;">
            <div style="text-align: center;">March 15, 2021</div>
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            <div style="text-align: center;">/s/ <font style="color: rgb(0, 0, 0);">Andrew Herning</font></div>
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          <td style="width: 20%; vertical-align: bottom;">&#160;</td>
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            <div style="text-align: center;">/s/ <font style="color: rgb(0, 0, 0);">Charles Bernicker</font></div>
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          <td nowrap="nowrap" style="width: 2%; vertical-align: bottom;">&#160;</td>
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            <div>Director</div>
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          <td nowrap="nowrap" style="width: 2%; vertical-align: bottom;">&#160;</td>
          <td style="width: 20%; vertical-align: bottom;">
            <div style="text-align: center;">March 15, 2021</div>
          </td>
        </tr>
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          <td style="width: 26%; vertical-align: bottom;">
            <div style="text-align: center; color: rgb(0, 0, 0);">Charles Bernicker</div>
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          <td nowrap="nowrap" style="width: 2%; vertical-align: bottom;">&#160;</td>
          <td style="width: 50.22%; vertical-align: bottom;">&#160;</td>
          <td nowrap="nowrap" style="width: 2%; vertical-align: bottom;">&#160;</td>
          <td style="width: 20%; vertical-align: bottom;">&#160;</td>
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          <td rowspan="1" style="width: 26%; vertical-align: bottom;">&#160;</td>
          <td nowrap="nowrap" rowspan="1" style="width: 2%; vertical-align: bottom;">&#160;</td>
          <td rowspan="1" style="width: 50.22%; vertical-align: bottom;">&#160;</td>
          <td nowrap="nowrap" rowspan="1" style="width: 2%; vertical-align: bottom;">&#160;</td>
          <td rowspan="1" style="width: 20%; vertical-align: bottom;">&#160;</td>
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          <td style="width: 26%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="text-align: center;">/s/ Clare Hart</div>
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          <td nowrap="nowrap" style="width: 2%; vertical-align: bottom;">&#160;</td>
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            <div>Director</div>
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          <td nowrap="nowrap" style="width: 2%; vertical-align: bottom;">&#160;</td>
          <td style="width: 20%; vertical-align: bottom;">
            <div style="text-align: center;">March 15, 2021</div>
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          <td style="width: 26%; vertical-align: bottom;">
            <div style="text-align: center; color: rgb(0, 0, 0);">Clare Hart</div>
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          <td nowrap="nowrap" style="width: 2%; vertical-align: bottom;">&#160;</td>
          <td style="width: 50.22%; vertical-align: bottom;">&#160;</td>
          <td nowrap="nowrap" style="width: 2%; vertical-align: bottom;">&#160;</td>
          <td style="width: 20%; vertical-align: bottom;">&#160;</td>
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          <td rowspan="1" style="width: 26%; vertical-align: bottom;">&#160;</td>
          <td nowrap="nowrap" rowspan="1" style="width: 2%; vertical-align: bottom;">&#160;</td>
          <td rowspan="1" style="width: 50.22%; vertical-align: bottom;">&#160;</td>
          <td nowrap="nowrap" rowspan="1" style="width: 2%; vertical-align: bottom;">&#160;</td>
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            <div style="text-align: center;"><br>
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          <td nowrap="nowrap" style="width: 2%; vertical-align: bottom;">&#160;</td>
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            <div>Director</div>
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          <td nowrap="nowrap" style="width: 2%; vertical-align: bottom;">&#160;</td>
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            <div style="text-align: center;"><br>
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          <td nowrap="nowrap" style="width: 2%; vertical-align: bottom;">&#160;</td>
          <td style="width: 50.22%; vertical-align: bottom;">&#160;</td>
          <td nowrap="nowrap" style="width: 2%; vertical-align: bottom;">&#160;</td>
          <td style="width: 20%; vertical-align: bottom;">&#160;</td>
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          <td rowspan="1" style="width: 26%; vertical-align: bottom;">&#160;</td>
          <td nowrap="nowrap" rowspan="1" style="width: 2%; vertical-align: bottom;">&#160;</td>
          <td rowspan="1" style="width: 50.22%; vertical-align: bottom;">&#160;</td>
          <td nowrap="nowrap" rowspan="1" style="width: 2%; vertical-align: bottom;">&#160;</td>
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            <div style="text-align: center;">/s/ Lawrence Irving</div>
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          <td nowrap="nowrap" style="width: 2%; vertical-align: bottom;">&#160;</td>
          <td style="width: 50.22%; vertical-align: bottom;">
            <div>Director</div>
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          <td nowrap="nowrap" style="width: 2%; vertical-align: bottom;">&#160;</td>
          <td style="width: 20%; vertical-align: bottom;">
            <div style="text-align: center;">March 15, 2021</div>
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            <div style="text-align: center; color: rgb(0, 0, 0);">Lawrence Irving</div>
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          <td nowrap="nowrap" style="width: 2%; vertical-align: bottom;">&#160;</td>
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          <td nowrap="nowrap" style="width: 2%; vertical-align: bottom;">&#160;</td>
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            <div style="text-align: center;">/s/ Matt Harris</div>
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          <td nowrap="nowrap" style="width: 2%; vertical-align: bottom;">&#160;</td>
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            <div>Director</div>
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          <td nowrap="nowrap" style="width: 2%; vertical-align: bottom;">&#160;</td>
          <td style="width: 20%; vertical-align: bottom;">
            <div style="text-align: center;">March 15, 2021</div>
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            <div style="text-align: center; color: rgb(0, 0, 0);">Matt Harris</div>
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          <td nowrap="nowrap" style="width: 2%; vertical-align: bottom;">&#160;</td>
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          <td style="width: 26%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="text-align: center;">/s/ Juli Spottiswood</div>
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          <td nowrap="nowrap" style="width: 2%; vertical-align: bottom;">&#160;</td>
          <td style="width: 50.22%; vertical-align: bottom;">
            <div>Director</div>
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          <td nowrap="nowrap" style="width: 2%; vertical-align: bottom;">&#160;</td>
          <td style="width: 20%; vertical-align: bottom;">
            <div style="text-align: center;">March 15, 2021</div>
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{"company-data": {"conformed-name": "BTRS Holdings Inc.", "cik": "0001774155", "assigned-sic": "7371", "irs-number": "833780685", "state-of-incorporation": "DE", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "S-8", "act": "33", "file-number": "333-254301", "film-number": "21742356"}, "business-address": {"street1": "1009 LENOX DRIVE", "street2": "SUITE 101", "city": "LAWRENCEVILLE", "state": "NJ", "zip": "08648", "phone": "(610) 592-7228"}, "mail-address": {"street1": "1009 LENOX DRIVE", "street2": "SUITE 101", "city": "LAWRENCEVILLE", "state": "NJ", "zip": "08648"}, "former-company": {"former-conformed-name": "South Mountain Merger Corp.", "date-changed": "20190417"}}
As filed with the Securities and Exchange Commission on March 15, 2021
Registration No. 333-
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM S-8
REGISTRATION STATEMENT
UNDER
THE SECURITIES ACT OF 1933
BTRS HOLDINGS INC.
(Exact name of registrant as specified in its charter)
Delaware
83-3780685
(State or other jurisdiction of incorporation or organization)
(IRS Employer Identification No.)
1009 Lenox Drive, Suite 101
Lawrenceville, New Jersey
08648
(Address of Principal Executive Offices)
(Zip Code)
BTRS Holdings Inc. 2020 Equity Incentive Plan
BTRS Holdings Inc. 2020 Employee Stock Purchase Plan
Factor Systems, Inc. (d/b/a Billtrust) 2014 Incentive Compensation Plan
Factor Systems, Inc. (d/b/a Billtrust) 2003 Stock Incentive Plan
(Full title of the plan)
Tel: (609) 235-1010
(Telephone number, including area code, of agent for service)
Keith Omsberg
General Counsel
BTRS Holdings Inc.
1009 Lenox Drive, Suite 101
Lawrenceville, New Jersey 08648
Tel: (609) 245-0714
(Name, Address, Including Zip Code, and Telephone Number, Including Area Code, of Agent for Service)
Copies to:
Matthew Browne
Cooley LLP
500 Boylston Street
Boston, Massachusetts 02116
Tel: (617) 937-2300
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of "large accelerated filer," "accelerated
      filer," "smaller reporting company," and "emerging growth company" in Rule 12b-2 of the Exchange Act:
Large accelerated filer
☐
Accelerated filer
☐
Non-accelerated filer
☒
Smaller reporting company
☒
Emerging growth company
☒
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 7(a)(2)(B) or the
      Securities Act. ☐
CALCULATION OF REGISTRATION FEE
Title of Securities to be Registered
Amount to be registered
(1)
Proposed maximum offering price per share
Proposed maximum aggregate
offering price
Amount of registration fee
2020 Equity Incentive Plan
(Class 1 Common Stock, par value $0.0001 per share)
15,626,237
(2)
$
16.13
(6)
$
252,051,202.81
(6)
$
27,498.79
(6)
2020 Employee Stock Purchase Plan
(Class 1 Common Stock, par value $0.0001 per share)
1,452,623
(3)
$
16.13
(6)
$
23,430,808.99
(6)
$
2,556.30
(6)
2014 Incentive Compensation Plan
(Class 1 Common Stock, par value $0.0001 per share)
13,962,065
(4)
$
3.47
(7)
$
48,448,365.55
(7)
$
5,285.72
(7)
2003 Stock Incentive Plan
(Class 1 Common Stock, par value $0.0001 per share)
1,185,114
(5)
$
0.53
(7)
$
628,110.42
(7)
$
68.53
(7)
Total
32,226,039
$
324,558,487.77
$
35,409.33
(1)
Pursuant to Rule 416(a) under the Securities Act of 1933, as amended (the "Securities Act"), this registration statement also covers an indeterminate number of additional shares that may be issued to adjust the number of shares issued
              pursuant to the plans described herein in the event of a stock dividend, stock split, reverse stock split, extraordinary dividend, extraordinary distribution, recapitalization, reorganization, merger, combination, consolidation, split-up,
              spin-off, combination, exchange of shares, rights offering, separation, reorganization, liquidation or similar event.
(2)
Represents 15,626,237 shares of the registrant's Class 1 common stock currently reserved for issuance under the BTRS Holdings Inc. 2020 Equity Incentive Plan (the "2020 Plan"). Shares to be  registered include up to 1,100,000 shares
              issuable pursuant to the Business Combination Agreement dated October 18, 2020 by and among the registrant, BT Merger Sub I, Inc., BT Merger Sub II, LLC and Factor Systems, Inc. (d/b/a Billtrust) (as amended, the "BCA") for Earnout RSUs. To
              the extent that awards outstanding under the 2020 Plan are forfeited, cancelled, surrendered or terminated without issuance of shares, the shares of Class 1 common stock subject to such awards will be available for future issuance under the
              2020 Plan, other than those shares issuable for Earnout RSUs.
(3)
Represents 1,452,623 shares of the registrant's Class 1 common stock currently reserved for issuance under the BTRS Holdings Inc. 2020 Employee Stock Purchase Plan (the "2020 ESPP").
(4)
Represents 13,962,065 shares of the registrant's Class 1 common stock underlying awards previously granted under the Factor Systems, Inc. (d/b/a Billtrust) 2014 Incentive Compensation Plan (the "2014 Plan"), as assumed by the registrant on
              January 12, 2021 pursuant to the BCA.
(5)
Represents 1,185,114 shares of the registrant's Class 1 common stock underlying awards previously granted under the Factor Systems, Inc. (d/b/a Billtrust) 2003 Stock Incentive Plan (the "2003 Plan"), as assumed by the registrant on January
              12, 2021 pursuant to the BCA.
(6)
Estimated pursuant to Rules 457(c) and 457(h) under the Securities Act, solely for the purposes of calculating the registration fee and based on the average of the high and low prices of the registrant's Class 1 common stock as reported on
              the Nasdaq Global Select Market on March 10, 2021, which date is within five business days prior to the filing of this registration statement.
(7)
Estimated in accordance with Rule 457(h) of the Securities Act solely for purposes of calculating the registration fee and based on an average weighted exercise price.
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PART I
INFORMATION REQUIRED IN THE SECTION 10(a) PROSPECTUS
The information required by Part I of Form S-8 to be contained in the Section 10(a) prospectus is omitted from this registration statement in accordance with Rule 428 under the Securities Act of 1933, as amended (the "Securities Act"). The
      document(s) containing the information specified in Part I will be sent or given to participants in the BTRS Holdings Inc. 2020 Equity Incentive Plan (the "2020 Plan"), participants in the BTRS Holdings Inc. 2020 Employee Stock Purchase Plan (the
      "2020 ESPP"), participants in the Factor Systems, Inc. (d/b/a Billtrust) 2014 Incentive Compensation Plan (the "2014 Plan")  and participants in the Factor Systems, Inc. (d/b/a Billtrust) 2003 Stock Incentive Plan (the "2003 Plan" and together with
      the 2020 Plan, the 2020 ESPP and the 2014 Plan, the "Plans") as specified by Rule 428(b)(1) of the Securities Act. Such documents are not being filed with the Securities and Exchange Commission (the "Commission") as part of this registration
      statement or as prospectuses or prospectus supplements pursuant to Rule 424 of the Securities Act. These documents and the documents incorporated by reference in the registration statement pursuant to Item 3 of Part II of this form, taken together,
      constitute a prospectus that meets the requirements of Section 10(a) of the Securities Act.
PART II
INFORMATION REQUIRED IN THE REGISTRATION STATEMENT
Item 3.
Incorporation of Documents by Reference.
The following documents filed by the registrant with the Commission are hereby incorporated by reference in this registration statement:
●
the registrant's annual report on Form 10-K for the fiscal year ended
December 31, 2019
filed with the Commission on March 20, 2020;
●
the registrant's quarterly reports on Form 10-Q for the quarters ended
March 31, 2020
,
June 30, 2020
and
September 30, 2020
,
              filed with the Commission on May 8, 2020, August 14, 2020 and November 16, 2020, respectively;
●
the registrant's current reports on Form 8-K filed with the Commission on
June 29, 2020
,
October 19, 2020
,
December 15, 2020
,
January 5, 2021
,
January 12, 2021
,
January 14, 2021
and
February 23, 2021
;
●
the registrant's prospectus filed on
February 10, 2021
pursuant to Rule 424(b) under the Securities Act, relating to the Registration
              Statement on Form S-1 (File No.
333-252698
), which contains audited financial statements for the Registrant's latest fiscal year for which
              such statements have been filed; and
●
the description of our Class 1 common stock, par value $0.0001 per share, set forth in our registration statement on Form S-4, filed with the Commission on
October 26, 2020
, as amended, including any further amendments thereto or reports filed for the purposes of updating this description.
All reports and other documents filed by the registrant pursuant to Section 13(a), 13(c), 14 or 15(d) of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), other than current reports furnished under Item 2.02 and Item 7.01 of
      Form 8-K and any exhibits furnished on such form that relate to such items, after the date of this registration statement, and prior to the filing of a post-effective amendment that indicates that all securities offered hereby have been sold or that
      deregisters all securities then remaining unsold, shall be deemed to be incorporated by reference herein and to be a part of this registration statement from the date of filing of such reports and documents. Any statement contained in a document
      incorporated or deemed to be incorporated herein by reference shall be deemed to be modified or superseded for purposes of this registration statement to the extent that a statement herein or in any other subsequently filed document that also is or
      is deemed to be incorporated by reference herein modifies or supersedes such statement. Any such statement so modified or superseded shall not constitute a part of this registration statement, except as so modified or superseded.
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Item 4.
Description of Securities
Not applicable.
Item 5.
Interests of Named Experts and Counsel
Not applicable.
Item 6.
Indemnification of Directors and Officers
Section 145(a) of the Delaware General Corporate Law (the "DGCL") provides, in general, that a corporation may indemnify any person who was or is a party to or is threatened to be made a party to
        any threatened, pending or completed action, suit or proceeding, whether civil, criminal, administrative or investigative (other than an action by or in the right of the corporation), because he or she is or was a director, officer, employee or
        agent of the corporation, or is or was serving at the request of the corporation as a director, officer, employee or agent of another corporation, partnership, joint venture, trust or other enterprise, against expenses (including attorneys' fees),
        judgments, fines and amounts paid in settlement actually and reasonably incurred by the person in connection with such action, suit or proceeding, if he or she acted in good faith and in a manner he or she reasonably believed to be in or not
        opposed to the best interests of the corporation and, with respect to any criminal action or proceeding, had no reasonable cause to believe his or her conduct was unlawful.
Section 145(b) of the DGCL provides, in general, that a corporation may indemnify any person who was or is a party or is threatened to be made a party to any threatened, pending or completed action
        or suit by or in the right of the corporation to procure a judgment in its favor because the person is or was a director, officer, employee or agent of the corporation, or is or was serving at the request of the corporation as a director, officer,
        employee or agent of another corporation, partnership, joint venture, trust or other enterprise, against expenses (including attorneys' fees) actually and reasonably incurred by the person in connection with the defense or settlement of such action
        or suit if he or she acted in good faith and in a manner he or she reasonably believed to be in or not opposed to the best interests of the corporation, except that no indemnification shall be made with respect to any claim, issue or matter as to
        which he or she shall have been adjudged to be liable to the corporation unless and only to the extent that the Court of Chancery or other adjudicating court determines that, despite the adjudication of liability but in view of all of the
        circumstances of the case, he or she is fairly and reasonably entitled to indemnity for such expenses that the Court of Chancery or other adjudicating court shall deem proper.
Section 145(g) of the DGCL provides, in general, that a corporation may purchase and maintain insurance on behalf of any person who is or was a director, officer, employee or agent of the
        corporation, or is or was serving at the request of the corporation as a director, officer, employee or agent of another corporation, partnership, joint venture, trust or other enterprise against any liability asserted against such person and
        incurred by such person in any such capacity, or arising out of his or her status as such, whether or not the corporation would have the power to indemnify the person against such liability under Section 145 of the DGCL.
Additionally, our Second Amended and Restated Certificate of Incorporation (the "Certificate of Incorporation") eliminates our directors' liability for monetary damages to the fullest extent
        permitted by applicable law. The DGCL provides that directors of a corporation will not be personally liable for monetary damages for breach of their fiduciary duties as directors, except for liability:
●
for any
transaction from which the director derives an improper personal benefit;
●
for any act or omission not in good faith or that involves intentional misconduct or a knowing violation of law;
●
for any unlawful payment of dividends or redemption of shares; or
●
for any breach
of a director's duty of loyalty to the corporation or its stockholders.
If the DGCL is amended to authorize corporate action further eliminating or limiting the personal liability of directors, then the liability of our directors will be eliminated or limited to the fullest extent
        permitted by the DGCL, as so amended.
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The Certificate of Incorporation authorizes us to indemnify and advance expenses to, to the fullest extent permitted by applicable law, our directors, officers and agents. We maintain a directors'
        and officers' insurance policy pursuant to which our directors and officers are insured against liability for actions taken in their capacities as directors and officers. Finally, the Certificate of Incorporation prohibits any retroactive changes
        to the rights or protections or that increase the liability of any director in effect at the time of the alleged occurrence of any act or omission to act giving rise to liability or indemnification.
In addition, we have entered into separate indemnification agreements with our directors and officers. These agreements, among other things, require us to indemnify our directors and officers for
        certain expenses, including attorneys' fees, judgments, fines and settlement amounts incurred by a director or officer in any action or proceeding arising out of their services as one of our directors or officers or any other company or enterprise
        to which the person provides services at our request.
We believe these provisions in the Certificate of Incorporation are necessary to attract and retain qualified persons as directors and officers.
Item 7.
Exemption from Registration Claimed
Not applicable.
Item 8.
Exhibits.
Exhibit
No.
Description
4.1
Second Amended and Restated Certificate of Incorporation of the Registrant, dated January 12, 2021 (incorporated by reference to Exhibit 3.1 to the Registrant's Current Report on Form 8-K, filed with the Securities and Exchange Commission
              on January 14, 2021).
4.2
Amended and Restated Bylaws of the Registrant, dated January 12, 2021 (incorporated by reference to Exhibit 3.2 to the Registrant's Current Report on Form 8-K, filed with the Securities and Exchange Commission on January 14, 2021).
5.1
Opinion of Cooley LLP.
23.1
Consent of Marcum LLP, independent registered public accounting firm of BTRS Holdings Inc. (f/k/a South Mountain Merger Corp.)
.
23.2
Consent of BDO USA, LLP, independent registered public accounting firm of
Factor Systems, Inc. (d/b/a Billtrust) (now known as BTRS
                Holdings Inc.)
23.4
Consent of Cooley LLP (included in Exhibit 5.1).
24.1
Power of Attorney (contained on the signature page hereto).
99.1
BTRS Holdings Inc. 2020 Equity Incentive Plan (incorporated by reference to Exhibit 10.4 to the Registration Statement on Form S-4 filed on November 25, 2020).
99.2
BTRS Holdings Inc. 2020 Employee Stock Purchase Plan (incorporated by reference to Exhibit 10.5 to the Registration Statement on Form S-4, filed with the Securities and Exchange Commission on November 25, 2020).
99.3
Factor Systems, Inc. (d/b/a Billtrust) 2014 Incentive Compensation Plan (incorporated by reference to Exhibit 10.14 to the Registration Statement on Form S-4, filed with the Securities and Exchange Commission on November 25, 2020).
99.4
Factor Systems, Inc. (d/b/a Billtrust) 2003 Stock Incentive Plan (incorporated by reference to Exhibit 10.13 to the Registration Statement on Form S-4, filed with the Securities and Exchange Commission on November 25, 2020).
99.5
Forms of Stock Option Grant Notice and Stock Option Agreement under the BTRS Holdings Inc. 2020 Equity Incentive Plan.
99.6
Forms of RSU Award Grant Notice and RSU Award Agreement under the BTRS Holdings Inc. 2020 Equity Incentive Plan.
II-5
Item 9.
Undertakings.
(a)
The undersigned registrant hereby undertakes:
(1)
To file, during any period in which offers or sales are being made, a post-effective amendment to this registration statement:
(i)
to include any prospectus required by Section 10(a)(3) of the Securities Act;
(ii)
to reflect in the prospectus any facts or events arising after the effective date of this registration statement (or the most recent post-effective amendment hereof) which, individually or in the aggregate, represent a fundamental change
              in the information set forth in this registration statement. Notwithstanding the foregoing, any increase or decrease in volume of securities offered (if the total dollar value of securities offered would not exceed that which was registered)
              and any deviation from the low or high end of the estimated maximum offering range may be reflected in the form of prospectus filed with the Commission pursuant to Rule 424(b) if, in the aggregate, the changes in volume and price represent no
              more than 20% change in the maximum aggregate offering price set forth in the "Calculation of Registration Fee" table in the effective registration statement;
(iii)
to include any material information with respect to the plan of distribution not previously disclosed in this registration statement or any material change to such information in this registration statement;
provided, however, that paragraphs (a)(1)(i) and (a)(1)(ii) do not apply if the information required to be included in a post-effective amendment by those paragraphs is contained in periodic reports filed with or
      furnished to the Commission by the registrant pursuant to Section 13 or Section 15(d) of the Exchange Act that are incorporated by reference in the registration statement.
(2)
That, for the purpose of determining any liability under the Securities Act, each such post-effective amendment shall be deemed to be a new registration statement relating to the securities offered therein, and the offering of such
              securities at that time shall be deemed to be the initial bona fide offering thereof.
(3)
To remove from registration by means of a post-effective amendment any of the securities being registered which remain unsold at the termination of the offering.
(b)
The undersigned registrant hereby undertakes that, for purposes of determining any liability under the Securities Act, each filing of the registrant's annual report pursuant to Section 13(a) or Section 15(d) of the Exchange Act (and, where
              applicable, each filing of an employee benefit plan's annual report pursuant to Section 15(d) of the Exchange Act) that is incorporated by reference in this registration statement shall be deemed to be a new registration statement relating to
              the securities offered therein, and the offering of such securities at that time shall be deemed to be the initial bona fide offering thereof.
(c)
Insofar as indemnification for liabilities arising under the Securities Act may be permitted to directors, officers and controlling persons of the registrant pursuant to the foregoing provisions, or otherwise, the registrant has been
              advised that in the opinion of the Commission such indemnification is against public policy as expressed in the Securities Act and is, therefore, unenforceable. In the event that a claim for indemnification against such liabilities (other
              than the payment by the registrant of expenses incurred or paid by a director, officer or controlling person of the registrant in the successful defense of any action, suit or proceeding) is asserted by such director, officer or controlling
              person in connection with the securities being registered, the registrant will, unless in the opinion of its counsel the matter has been settled by controlling precedent, submit to a court of appropriate jurisdiction the question whether such
              indemnification by it is against public policy as expressed in the Securities Act and will be governed by the final adjudication of such issue.
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SIGNATURES
Pursuant to the requirements of the Securities Act of 1933, as amended, the registrant certifies that it has reasonable grounds to believe that it meets all of the requirements for filing on Form S-8, and has duly caused this registration
      statement to be signed on its behalf by the undersigned, thereunto duly authorized, in the City of Lawrenceville, State of New Jersey, on March 15, 2021.
BTRS HOLDINGS INC.
By:
/s/ Flint A. Lane
Name:
Flint A. Lane
Title:
Chief Executive Officer and Chairman of
the Board of Directors
POWER OF ATTORNEY
KNOW ALL PERSONS BY THESE PRESENTS, that each person whose signature appears below hereby constitutes and appoints Flint A. Lane, Mark Shifke and Andrew Herning, and each of them, his or her true and lawful
      attorneys-in-fact and agents, each with full power of substitution and resubstitution, for him or her and in his or her name, place and stead, in any and all capacities, to sign any and all amendments, including post-effective amendments, to this
      Registration Statement, and any registration statement relating to the offering covered by this Registration Statement and filed pursuant to Rule 462(b) under the Securities Act of 1933, as amended, and to file the same, with exhibits thereto and
      other documents in connection therewith, with the Securities and Exchange Commission, granting unto said attorneys-in-fact and agents, and each of them, full power and authority to do and perform each and every act and thing requisite and necessary
      to be done, as fully for all intents and purposes as he or she might or could do in person, hereby ratifying and confirming all that each of said attorneys-in-fact and agents, or his or her substitute or substitutes may lawfully do or cause to be
      done by virtue hereof.
Pursuant to the requirements of the Securities Act of 1933, as amended, this  registration statement has been signed below by the following persons in the capacities and on the date indicated.
Signature
Title
Date
/s/
Flint A. Lane
Chief Executive Officer and Chairman of the Board of Directors
March 15, 2021
Flint A. Lane
(
Principal Executive Officer
)
/s/
Mark Shifke
Chief Financial Officer
March 15, 2021
Mark Shifke
(
Principal Financial Officer
)
/s/
Andrew Herning
Senior Vice President, Finance
March 15, 2021
Andrew Herning
(
Principal Accounting Officer
)
/s/
Charles Bernicker
Director
March 15, 2021
Charles Bernicker
/s/ Clare Hart
Director
March 15, 2021
Clare Hart
Director
Robert Farrell
/s/ Lawrence Irving
Director
March 15, 2021
Lawrence Irving
/s/ Matt Harris
Director
March 15, 2021
Matt Harris
/s/ Juli Spottiswood
Director
March 15, 2021
Juli Spottiswood
II-7