A Canadian financial technology startup has successfully exited—and even kept things north of the border.
Toronto’s Notch Financial has been acquired by Telpay, a payment solutions company established in Winnipeg in 1985 that today processes more than $28 billion annually.
Notch’s platform simplifies invoicing, payment collection, and ordering with a focus on helping Canadian businesses improve cash flow.
The acquisition bolsters Telpay’s capacity to help Canadian businesses manage the complete flow of money by adding modern invoicing, payment collection, and ordering capabilities to its platform, according to an official statement from the firms.
Notch’s technology helps Telpay tap in to on the other side of the financial equation, says company president Mark Loewen.
“For decades we’ve helped customers control the money going out,” he explains. “This acquisition strengthens our ability to help them manage the money coming in as well.”
“Businesses don’t lose sleep over how payments are processed; they worry about whether they’ll have the cash they need when they need it,” says Loewen.
The acquisition is “another important step toward giving Canadian businesses a single platform to see, control, and optimize their cash flow.”
Jordan Huck, chief executive officer of Notch, says that “from the beginning, our goal at Notch has been to help Canadian businesses simplify accounts receivable so they can focus on running and growing their business.”
“We’re excited to see Notch’s technology become part of Telpay’s long-term vision,” he continued, adding: “The combination creates new opportunities to deliver even greater value to Canadian businesses as they manage every aspect of their cash flow.”
Existing Notch merchants, partners, and Telpay customers can expect uninterrupted service and continuity throughout the transition, according to the companies.
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