We've just recently closed an investment, along side our friends at Growthworks, in Paymentus. Paymentus is an electronic billing services company located in Canada but serving an international roster of clients. It was founded and run by a seasoned executive, Dushyant Sharma.
We invested in Paymentus for a number of reasons. Our basic business thesis was that there are a number of places where (surprisingly) automation of paying certain types of bills is still in an evolving state. Paymentus has identified a number of these market segments and came to us with some great traction, proprietary technology, tons of industry knowledge, and an impressive plan for growth.
Dushyant did all the right things as a start up. Self-funded until he hit milestones that started to prove out the business stood out to the investors as well as a very clear and deep understanding of the bill payment and presentment business.
We're delighted to have Paymentus join our roster of investments and look forward to working with Dushyant and his team.
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