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Paystone raises funds to fuel growth

Paystone raises funds to fuel growth

Canada's Paystone has raised C$69 million in equity investment and debt financing from Canadian Business Growth Fund (CBGF) and National Bank of Canada.

Paystone's payment processing and customer engagement software is live at over 25,000 merchant locations across Canada and the US which collectively process over C$10 billion a year in bank-card volume.

CBGF has provided the equity investment, with National Bank of Canada covering the debt financing, which will be used to fuel both organic and acquisition-based growth.

Tarique Al-Ansari, CEO, Paystone, says: "The positive business impacts we experienced amidst the pandemic showed us that digital consumers, and the technology to support every step of the customer engagement journey, is critical for merchants."

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