The online fundraising solution provider, Artez Interactive, made it known on August 19th through a media release that it has been acquired by FrontStream Payments, a top payment providing company that also does peer-to-peer fundraising and provide donor solutions in the United States. With this acquisition FrontStream Payments has made a strong entry into the Canadian market, as it shows that the company is accelerating vigorously. Now, Artez and FrontStream together will “offer the most comprehensive set of fundraising and donation processing solutions to nonprofit organizations and integrated API partners” on international level, according to the press release.
However, Artez did not disclose any details regarding the amount of money that FrontStream has spent to make the acquisition. However, on this occasion the Chief Executive Officer of Artez Interactive James Appleyard did said in an statement that, “Since our first entry to the US market, Artez has been perceived as a vital alternative to the incumbent players. By joining forces with FrontStream, we will have an unparalleled opportunity to increase the number of charities we support, while sustaining the pace of innovation for the benefit of fundraising outcomes, which the charitable sector has come to expect from us.”
Shedding light on the acquisition, the President and the Chief Executive Officer of FrontStream Payments Nina Vellayan said that, “The FirstGiving brand has secured our place as a full-service donation solutions provider for mid-tier nonprofit organizations, as well as a powerful back-end processing partner for a host of crowdfunding platforms in the United States. With Artez, we now have the opportunity to use our combined knowledge of merchant services, fundraising solutions and a strong API strategy to serve the most iconic charities in both domestic and international markets. Our ability to accommodate multi-currency processing through a wide variety of digital channels allows us to offer international donation options to nonprofits and API partners alike, which will enable us to support a much broader set of clientele.”
The Toronto-based Artez is one of the top providers of mobile, web and social channels fundraising solutions for charities and non-profit organizations. On the other hand, FrontStream is also a strong company that has a financial backing of various leading investors, which are led by New York-based, Arsenal Capital Partners, a private equity company with a value of more than $1.6 billion. Now, FrontStream is looking to significantly boost the impact of Artez in the US, as the Canadian company already has office in the US and one in Australia as well.
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