Providence Strategic Growth (PSG), the growth equity affiliate of Providence Equity Partners, a global private equity firm with $47 billion in assets under management, made the investment. In conjunction with the deal, Mark Hastings, Managing Director and head of Providence Strategic Growth, will join PaySimple’s Board of Directors.
The company intends to use the funds to accelerate its growth.
strategy to market services online, automate payment acceptance, and deliver one end-to-end solution to its customers.
Founded in 2006 and led by Eric Remer, CEO, PaySimple provides a cloud-based platform that allows service-based business owners to run their companies including generating business online (with online appointment scheduling, payment and registration forms, and an online store), collecting payment (in person, online, over the phone, via invoice, and by recurring billing), and strengthening these capabilities with a customer management solution at its core. An API also provides SaaS companies with payment acceptance, card on file, customer management, and billing automation capabilities.
PaySimple currently serves over 17,000 companies across the country, ranging in industries from fitness and wellness, to non-profit and education, to home and professional services.
First appeared at FinSMEs