Business payments platform PaySimple has received $115m in a growth investment from Providence Strategic Growth.
The Denver-based company aims to offer small businesses an end-to-end solution to accept payments, manage invoicing and billing and handle marketing and customer management.
The company counts more than 17,000 US companies as clients of its software.
Providence Strategic Growth is the the growth equity affiliate of Rhode Island-based private equity firm Providence Equity Partners.
As a result of the deal the firm’s managing director Mark Hastings will join PaySimple’s board.
Ha said, “Legacy paper-based cash and check processes, and even terminal point-of-sale solutions, don’t fit the needs of relationship-oriented verticals, and limit their growth
“That gap affects a great number of SMBs across the country and PaySimple is uniquely positioned to meet the needs of this market with the platform they’ve built.”
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