Talus Pay has acquired home services fintech infrastructure company Jobox.ai and B2B payment solutions company Clarus Merchant Services.
Combined, the new entity will process more than $9 billion for 22,000+ merchant customers annually.
Financial terms of the deals were not disclosed.
Texas-based Talus Pay announced two major purchases this week. The payments processing company has acquired home services fintech infrastructure company Jobox.ai and B2B payment solutions company Clarus Merchant Services. Financial terms of the deals were not disclosed.
Combined with the two new companies, Talus Pay now processes more than $9 billion a year for its more than 22,000 merchant customers. The fintech expects the acquisitions will help it grow its client base within the home and facility services verticals.
“We are excited to welcome both Jobox and Clarus to the Talus Pay team,” said Talus Pay CEO Kim Fitzsimmons. “We have tremendous end-to-end technology infrastructure and sales and service platforms. Adding Jobox and Clarus gives us additional proprietary software and scale in complimentary business-to-business industry verticals.”
Jobox was founded in California in 2016 to offer job matching, scheduling, payments, customer communications, and inventory management technology to U.S. home services professionals. The company currently serves more than 5,000 home services professionals across 39 U.S. states. Talus Pay will leverage its direct and reseller channels to scale Jobox’s open-source architecture across more industries, including auto repair, beauty, hospitality, non-profit, and service retail, among others.
“Jobox is a terrific tool for underserved home and facility services professionals to help them efficiently run their businesses and increase their bottom lines,” said Jobox Co-founder and CEO Shay Bloch. “By joining forces with Talus Pay, we can accelerate our market share in the home services end market while having the opportunity to accelerate entry into new market verticals.”
Maryland-based Clarus, which has been providing payment services since 1999, currently processes more than $2 billion in annual card volume each year for a wide range of businesses, credit unions, wholesale distribution groups, and building materials distribution companies. After the acquisition is finalized, Clarus will be able to offer its merchant clients new solutions from Talus Pay.
Logistically, Clarus President Eric Pottebaum will join Talus Pay’s leadership team, serving as general manager of its Clarus portfolio. Bloch has been named Talus Pay’s chief strategy officer and Jobox Kaushik Pendurthi, also from Jobox, has been named chief technology officer.
Talus Pay, which itself was acquired by private equity firm A&M Capital Partners in 2017, processes 67.8 million transactions on an annual basis via sales agents and its network of financial institutions, independent sales organizations, independent software vendors, and value-added resellers.
Photo by Lech Naumovich on Unsplash
