CLEVELAND, Jan. 30, 2024 /PRNewswire/ — Kurv, formerly known as Electronic Merchant Systems (EMS), a leading provider of merchant solutions and payment services, announced the acquisition of Los Angeles-based PaymentCloud.
For Kurv, this deal further strengthens its distribution channels. It marks a significant expansion of its technology stack, giving merchants more efficient onboarding and processing tools that can be utilized throughout the entire Kurv ecosystem. This transaction provides PaymentCloud with continued investment to expand its sales channels while fully utilizing Kurv’s infrastructure. The deal solidified the existing relationship between the two companies and set Kurv up to accelerate the expansion of its Inside Sales channels.
“We are very excited to have the PaymentCloud team join the [Kurv] family. We share a mutual vision that a superior customer experience is a key driver for our companies and will be an important element of our continued success. This transaction will significantly drive our future growth.” – Afshin Yazdian, President and CEO of Kurv.
Shawn Silver founded PaymentCloud from his garage in Los Angeles, where he focused on using technology to better advocate for small merchants and provide unparalleled support. Along with co-founder Neal Hoffman, the company relied on its collective expertise in technology and marketing to grow quickly, landing on the Inc. 5000 list within a few years of its start.
“This is an exciting and natural next step in our quest to become one of the leading payment solution providers,” said Silver. “We can utilize the incredible [Kurv] infrastructure with our powerhouse marketing team and focus on growing our merchant relationships. My team and I are excited about what our combined companies can achieve.” – Shawn Silver, PaymentCloud co-founder.
EMS (now Kurv) Chairman Jim Weiland also remarked on the development, noting:
“We are now very well positioned to utilize the strength of the PaymentCloud marketing and sales channels to further scale both companies. PaymentCloud has been a longtime partner to [Kurv] and Shawn has proven to be a visionary in this industry.” – Jim Weiland
Yazdian also announced that Silver will become the Chief Revenue Officer of Kurv, and Hoffman will serve as Chief Marketing Officer. PaymentCloud will continue to operate from its offices in Los Angeles with plans to expand its footprint.
“It’s been a thrilling ride taking a fintech start-up to an Inc. 5000 company. This acquisition represents a significant milestone for me and my entire team. We look forward to the success it will bring to both organizations.”- Shawn Silver
“It’s been a thrilling ride taking a fintech start-up to an Inc. 5000 company,” said Silver. “This acquisition represents a significant milestone for me and my entire team. We look forward to the success it will bring to both organizations.”
FT Partners served as Kurv’s exclusive strategic and financial advisor in this transaction.
About Kurv
Kurv is a premier payment platform that caters to businesses of every size. Over 30,000 retail, internet, and omnichannel customers nationwide utilize our suite of modern payment solutions. From credit card processing and risk management to sales software, Kurv offers robust tools that empower businesses to thrive. Kurv further leverages the services of its subsidiaries to drive client success. Discover more at kurvpay.com.
About PaymentCloud
PaymentCloud, based in Encino, California, offers a transparent application process, hundreds of state-of-the-art integration options, and a dynamic group of payment professionals spanning a multitude of industry types. PaymentCloud works with over 80% of top digital ISOs and ISVs who utilize the company’s seamless submission process, efficient onboarding, and robust management tools.
