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On the Road to a Billion dollars, Paystone Lands Among Canada’s Top-Performing Tech Companies

London, ON – June 15, 2022 – Paystone is named as one of Canada’s highest-potential tech companies in 2022. Communitech has unveiled Team True North, a roster of Canadian innovation companies shown by verified data to have the highest probability of reaching $1B in revenue. 

“Many founders aspire to achieve the level of scale that allows them to build a billion dollar company. We're very honoured to be listed on Team True North among other great Canadian companies,” says Tarique Al-Ansari, CEO of Paystone, “This is a true testament to the value we're delivering. The future of Paystone is exciting and with our customer driven growth platform we aim to build a better future for our customers."

Backed by 20 years of empirical data from Silicon Valley Bank, and analysis done by Two Sigma in New York, companies like Paystone have demonstrated impressive growth and represent 1 percent of the highest-performing global private companies.

Paystone, as part of the first cohort of Team True North companies, is proof that Canada - with its diverse set of best-in-class firms from coast-to-coast-to-coast - is well on its way to becoming the world’s top tech ecosystem. Companies included on Team True North are supported and celebrated for building trusted technology through world-leading firms that can grow in Canada and expand internationally - ensuring prosperity for future generations to come.

Paystone was proud to attend and celebrate the launch of Team True North at the Toronto Stock Exchange alongside the other Canadian rockstars that are on the list such as Jobber, Clio, Jane and Freshbooks. “What makes this list special is that many of the companies listed are already partners of our NiceJob platform today, which is a reflection of how tightly connected the Canadian tech ecosystem is.” says Al-Ansari.

For the full list of Canadian tech companies included in the inaugural Team True North roster as well as qualifying criteria, please visit: communitech.ca/teamtruenorth

About Paystone

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 programs, gift card solutions, and reputation marketing software 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 35,000 locations across Canada and the United States which collectively process over 10 billion dollars a year in bankcard volume. The fintech company employs over 200 employees and serves as the technology partner of choice for hundreds of partners across North America.

About Communitech

Established in 1997 in Waterloo Region, Communitech was built by tech founders who saw the need for a community of support to help ensure the future prosperity of Canada. Today, Communitech is Canada’s leading innovation hub, supporting a community of more than 1,200 founders by providing accelerated opportunities to access talent, capital and sales.

Media Contact:

Mo Daouk 
(519) 871-2558
mdaouk@paystone.com

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