On January 21, 2021, Paystone announced the closing of $69 million in strategic financing, led by 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. The funding will help Paystone transform payments acceptance by integrating marketing automation with electronic payments, enabling merchants to grow their revenues. The funding round consisted of a combination of equity and debt financing, the latter provided by National Bank of Canada.
The Canadian Business Growth Fund (CBGF) provides long-term, patient, minority capital to ambitious entrepreneurs to fund growth and expansion of mid-market businesses.
Paystone is a leading payment and software company redefining the way merchants engage their customers and grow their businesses.
Osler, Hoskin & Harcourt LLP advised Canadian Business Growth Fund, with a team consisting of David Jamieson, Chres Lee, Tiye Traore (Emerging and High Growth Companies), Shari Cohen (Employment) and Kristin Ali (Privacy).