Paystone Raises $69M in Financing

Paystone Co-Founders CEO Tarique Al-Ansari (left) and CFO Abdullah Saab (right) at Paystone HQ1

Paystone, a London, Ontario, Canada-based payments and integrated software company, closed a $69m strategic financing.

Backers included Canadian Business Growth Fund (CBGF) and National Bank of Canada. The funding round consisted of a combination of equity and debt financing, the latter provided by National Bank of Canada.

The funds will be used to accelerate growth in customer engagement services and electronic payment processing solutions.

Led by Tarique Al-Ansari, CEO, Paystone is a company which provides an 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 of the MTY Food Group’s restaurant brands. Paystone’s solutions are used at over 25,000 locations across Canada and the United States which collectively process over 10 billion dollars a year in bank-card volume.

The company employs 100 employees and works with over 50 sales partners across Canada.