#SME / 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;

… 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… its key offering is an invoice financing product called PayArmour that guaranteed client cash flow.