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Canada based Paystone Acquires CAD 30M in Capital from Private Equity Unit of Crédit Mutuel Alliance Fédérale
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Paystone Adds $30 Million in Funding with Strategic Backing from Crédit Mutuel Equity
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Payments company Paystone raises $23 8M to help service-based businesses engage with customers – TechCrunch
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Paystone Closes $69 Million Financing Round
Paystone Closes $69 Million Financing Round
Paystone, a leading payments and integrated software company, announces the closing of $69 million in strategic financing from Canadian Business Growth Fund (CBGF) and National Bank of Canada. The funds will be used to fuel growth in customer engagement services and electronic payment processing solutions. This financing round accelerates Paystones vision, says Tarique Al-Ansari, CEO of Paystone. We are transforming payments acceptance by integrating marketing automation with electronic payments, enabling merchants to grow their revenues. Paystone marks the first investment in a Southwestern Ontario-based business for CBGF and adds more Quebec presence to CBGFs portfolio. Paystones organic growth trajectory is impressive and supported by an ambitious acquisition strategy, says George Rossolatos, CEO of CBGF. We believe Tarique and his team have the skills and experience to continue to exec
Paystone secures $69 million as company chases acquisitive growth strategy
Paystone, a London, Ontario and Montreal-based startup that offers customer engagement and payment processing software, has secured a $69 million CAD investment.
The financing consisted of both an equity investment and debt financing. With Paystone having already brought its products to market its CEO, Tarique Al-Ansari, classified the round as late-stage strategic financing. This brings the total funding to date for Paystone, which was founded in 2009, to approximately $100 million CAD.
“Paystone’s organic growth trajectory is impressive and supported by an ambitious acquisition strategy.”
– George Rossolatos, CBGF
The investors include the Canadian Business Growth Fund (CBGF) and National Bank of Canada. CBGF, Paystone’s first-ever institutional investor (previous investors have been angels and other non-institutional investors), provided all the growth equity capital, while