Company Entity Administration Platform, ZenBusiness, Completes Acquisition of Fintech Platform, Joust

ZenBusiness, a company entity creation and administration agency that makes it straightforward to begin, run, and develop their companies, has reportedly finalized its first acquisition of Austin-based Fintech platform, Joust. The quantity that might be paid for the acquisition hasn’t been shared publicly.

Ross Buhrdorf, co-founder and CEO at ZenBusiness, mentioned that his firm had been making an attempt to plan the acquisition of Joust for some time, however the timing had not been proper. Each corporations lately agreed to the phrases of the deal as a result of they felt they might be a very good match for one another, Buhrdorf mentioned.

Austin-based ZenBusiness was established in 2015. It has managed to safe $19.5 million in capital, so far. The corporate’s traders embody Greycroft and Lerer Hippeau.

Lamine Zarrad, co-founder and former CEO at Joust, defined that ZenBusiness offers a web-based platform for enterprise homeowners to handle and develop a small enterprise. In the meantime, Joust affords a banking platform that assists professionals with establishing a cost course of.

As reported by Crunchbase, Zarrad has been main the Fintech efforts within the new partnership, by relaunching Joust as ZenBusiness Cash and serving to with creating the suitable enterprise banking software program – which incorporates instruments for invoicing, service provider companies, and funds.

Zarrad remarked:

“We had been each holistic options, however beginning at totally different ends of the spectrum. As they discovered buyer acquisition, we thought, let’s not compete, however construct our forces collectively to deliver extra worth and exponentially develop.”

Each companies are targeted on creating new merchandise and integrating their present platforms, Zarrad confirmed.

Micro enterprise was already a high-growth business, and COVID-19 has additional accelerated its development, Buhrdorf claims.