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PayFacto, a leading provider of high-quality, completely integrated payment processing technologies and hospitality technology solutions for over 30,000 merchants in Canada, the US, and the United Kingdom, is one of Canada's major non-bank payment processors.
Fremont, CA: PayFacto Payments, a leading provider of payment solutions and point-of-sale technologies, has declared an equity investment of up to C$150 million to boost PayFacto's growth, led by private equity firm Flexpoint Ford with participation from BMO Capital Partners.
PayFacto, a leading provider of high-quality, completely integrated payment processing technologies and hospitality technology solutions for over 30,000 merchants in Canada, the US, and the United Kingdom, is one of Canada's major non-bank payment processors. PayFacto will use the growth equity investment to fund its considerable expansion in the US, utilizing its acquiring bank partnership with Community Federal Savings Bank ("CFSB"). The investment comes after PayFacto's acquisition of the Maitre'D and Veloce point-of-sale ("POS") software systems, and it will help the company accelerate its growth strategy, which includes expanding its payment product suite, launching PayFacto's new cloud-based POS system, as well as funding future acquisitions.
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"With its impressive track record and experience in the financial services sector, Flexpoint Ford is the ideal partner to help drive PayFacto's growth," stated Martin Leroux, President and CEO of PayFacto. "We're incredibly proud of everything we've accomplished as a Canadian company; now we've reached an exciting inflection point and our new financial partners will help take us to the next level in our company's evolution. Flexpoint Ford not only has a deep knowledge of the payments sector, but they also share our values and vision for success. We're pleased that BMO, which debt financed our two POS acquisitions, will continue to be part of our growth story, now as an equity investor."
Arjun Thimmaya, Managing Director at Flexpoint Ford, remarked, "We're excited about PayFacto's growth potential and the opportunity to further expand its presence in the US by combining payment and POS technologies. PayFacto is a true Canadian success story, and we're eager to help replicate that success in the US. We were particularly impressed with the depth of PayFacto's management team—they have the experience and capabilities to make their vision a reality."
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