ZenBusiness Acquires Digital Banking Startup Joust

ZenBusiness offer a digital plug-and-play model to help small businesses get up and running with such things as filing legal paperwork, tax filing, websites, domain names and other services; now they will be able to offer financial services with the news today that they have acquired Joust, a digital banking startup focused on freelancers and sole proprietors; Joust was founded in 2017 and had raised $4.6 million and rolled out to the public earlier this year; the acquisition grew out of partnership talks as both companies quickly realized that one platform with a complete set of offerings was more compelling than a partnership; Joust offered services through a tiered subscription model and made most of its revenue from payment processing and other fees; its key offering is an invoice financing product called PayArmour that guaranteed client cash flow. Banking Dive.

  • Peter Renton

    Peter Renton is the chairman and co-founder of Fintech Nexus, the world’s largest digital media company focused on fintech. Peter has been writing about fintech since 2010 and he is the author and creator of the Fintech One-on-One Podcast, the first and longest-running fintech interview series.