- Acquisitions: Talus Pay, a Texas-based payment processing services provider, has acquired fintech companies Jobox and Clarus Merchant Services.
- Details: The financial terms of the acquisitions, involving Jobox and Clarus, were not disclosed, keeping the transaction amounts undisclosed.
- Business Overview:
- Jobox: Founded in 2016 in Florida, Jobox operates a mobile app catering to home service professionals across the US. It provides features like job matching, scheduling, payments, customer service, and inventory management. Jobox claims to have processed over $1 billion in transaction volume.
- Clarus Merchant Services: Established in 1999 and headquartered in Maryland, Clarus Merchant Services specializes in integrated B2B payment solutions and asserts processing over $2 billion in annual card volume.
- Scale and Processing Volume: The combined acquisitions of Jobox and Clarus position Talus Pay to process more than $9 billion in annual payments volume, serving over 22,000 merchant customers across the United States.
- Strategic Expansion: Talus Pay CEO Kim Fitzsimmons sees the acquisitions of Jobox and Clarus as an opportunity to gain additional proprietary software and scale, particularly in business-to-business industry verticals.
- Market Diversification: By leveraging Jobox’s technology, Talus Pay aims to expand into new business verticals, including auto repair, beauty, hospitality, non-profit, and service retail, diversifying its market presence.
- Expertise and Focus Areas: Talus Pay underscores Clarus Merchant Services’ expertise in various business-to-business verticals, credit unions, wholesale distribution groups, and building materials distribution companies. The acquisition emphasizes factors like customer care, pricing points, and cardholder security.
- Leadership Changes: As part of the acquisitions, Eric Pottebaum, the president of Clarus, will join Talus Pay’s leadership team as the general manager of its Clarus portfolio. Shay Bloch, co-founder and CEO of Jobox, will serve as Talus Pay’s chief strategy officer, and Kaushik Pendurthi, also from Jobox, will take on the role of chief technology officer.
- Corporate Background: Talus Pay operates as a portfolio company of A&M Capital Partners, a notable private equity firm.
