Paystone has acquired NiceJob, a Vancouver-based provider of reputation marketing software for service businesses. No financial terms were disclosed. Based in London, Ontario and Montreal, Paystone is an electronic payments and customer engagement technology company. This year it raised roughly C$100 million in rounds backed by Canadian Business Growth Fund, Crédit Mutuel Equity and National Bank of Canada.
October 13, 2021
LONDON, Ontario–(BUSINESS WIRE)–Paystone announces the acquisition of NiceJob, an award-winning North American reputation marketing platform for service businesses. This marks Paystone’s fifth business acquisition over the last two years. These acquisitions not only advance Paystone’s rapid increase in market share, but also are pivotal in accelerating Paystone’s goal of building a category-defining platform that helps local businesses win more customers.
“Winning new customers is the biggest challenge most businesses have,” explains Tarique Al-Ansari, CEO of Paystone. “We’re solving this problem by giving companies the insights and tools they need to turn their customers into vocal advocates. Our vision is to create a unified platform that drives massive customer growth for service businesses. The acquisition of NiceJob brings us one step closer to achieving that goal.”
Year-over-year, NiceJob has grown revenues by over 150%. Following NiceJob’s acquisition, Paystone now boasts over 30,000 business clients that process over $10B in bankcard volume collectively. The addition of NiceJob supplements Paystone’s already expansive partner network of hundreds of partners and integrations. Furthermore, the acquisition provides new products and technologies that will deliver increased benefits to partners and customers.
With the acquisition of NiceJob, Paystone welcomes NiceJob’s founder and CEO, Lars Kristensen, as Paystone’s Chief Product Officer. In his new role, Kristensen will be leading the combined product and technology team responsible for fulfilling the company’s mission of achieving customer-driven growth.
“Businesses that invest in creating great customer experiences grow faster and profit more than those that don’t,” explains Kristensen. “Our platform makes it easy for companies to know how to provide better experiences to their customers, and then motivate their happy customers to share their experiences with others. This creates rapid customer growth at a fraction of the cost of traditional paid marketing channels. And perhaps most importantly, it improves the lives of their customers.”
With roughly $100 million CAD raised in 2021 alone, Paystone is looking to hire many key roles across North America. Presently, there are over 150 staff members at Paystone and the company is looking to add another 50 by the end of the year. Paystone adopted a people first return-to-work strategy allowing employees to choose to work from home or out of one of its regional hubs in London, ON, Montreal QC, or in its new hub as a result of the NiceJob acquisition, in Vancouver, BC.
Paystone is a leading North American payment and software company redefining the way merchants engage their customers and grow their businesses. The company’s seamlessly integrated suite of automated payment processing, customer loyalty, gift card solutions, and now reputation marketing, is used by brands such as Irving Oil, The Source, Global Pet Foods, Kernels Popcorn, and many of the MTY Food Group’s restaurant brands. Paystone’s solutions are used at over 30,000 locations across Canada and the United States which collectively process over 10 billion dollars a year in bankcard volume. The fintech company employs over 150 employees and serves as the technology partner of choice for hundreds of partners across North America.
Founded in Vancouver BC in 2017, NiceJob has quickly grown to become the North American market leader for small and medium-sized businesses looking to engage in reputation marketing. NiceJob was featured on the 2019 “Ready to Rocket” List, as well as being named the Fall 2021 High Performer by G2 Crowd. NiceJob presently helps thousands of businesses around the world with software products that make it easy to get more reviews, create automated social media marketing campaigns, and launch websites that increase traffic and sales.