The tools that Paystone provides are also aimed towards businesses attempting to recover from any Covid-19 related issues. As contactless and online payment numbers have increased during the global pandemic, Paystone has attempted to provide businesses with the opportunity to continue trading by offering these services. 

Paystone believes taking on this additional Investment will enable them to improve the service that it offers to customers. This will, in turn, accelerate the level of growth that it can obtain. While it hasn’t explicitly mentioned moving into geographies other than Canada and the US, it does have an office in London, so further expansion could be a possibility in the future. The investment from a French firm also means that European expansion could be the next aim for the payment provider.

Paystone CEO, Tarique Al-Ansari commented:

Winning more customers is a universal need among businesses of all sizes, and our integrated platform that seamlessly combines electronic payments acceptance with customer growth tools is the first of its kind in the market

The latest investment means that Crédit Mutuel Equity will become a minority shareholder in the company. Despite this, Paystone has spent a lot of time acquiring other companies since 2019 and aims to continue acquiring companies that it believes can improve the overall service that it offers.

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