Paystone offers a fully integrated technology platform that combines electronic payments acceptance with customer loyalty and gift-card solutions and customer-growth tools. Its suite of automated payment processing, loyalty and gift-card products is used by brands including Irving Oil, The Source, Booster Juice, Global Pet Foods, Kernels Popcorn and MTY Food Group restaurant brands. The company serves more than 30,000 merchant locations across Canada and the United States and collectively processes over $10 billion a year in bank-card volume. Paystone has offices in London, Ontario; Montreal, Quebec; and Vancouver, British Columbia, employs more than 150 people and works with over 50 sales partners across Canada. The business has grown through both organic momentum and M&A—completing five acquisitions in the prior 18 months (including DataCandy)—and earned rankings on The Globe and Mail’s and Canadian Business’s 2020 growth lists. Recent funding is intended to support its product roadmap, acquisitive growth strategy and international expansion beyond North America. Paystone offers a seamlessly integrated suite of automated payment processing, customer loyalty, and gift card solutions used by brands such as Irving Oil, The Source, Booster Juice, Global Pet Foods, Kernels Popcorn, and many MTY Food Group restaurant brands. Its solutions are deployed at over 25,000 locations across Canada and the United States and collectively process over $10 billion a year in bank-card volume. The fintech company employs about 100 people and works with over 50 sales partners. Paystone was co-founded by CEO Tarique Al-Ansari and Abdullah Saab (CFO). The company has experienced strong organic growth, earned rankings on The Globe and Mail’s and Canadian Business’s growth lists, and saw accelerated merchant adoption of electronic payments and digital tools during the COVID-19 pandemic. Paystone plans to scale its customer engagement services and electronic payment processing offerings and pursue an ambitious acquisition strategy funded by the recent financing.

Total raised

$99M

Funding rounds

3

Latest round

Equity

Latest activity

Jul 2021