London Inc. September 2021 - 35

Now, Al-Ansari says, " the main focus
is on organized growth. Acquisitions
are only to complement our product
roadmap, " he says. " Every acquisition
we're looking at, we're looking at them
just to enhance that mission that
we're on ... so that we continue to have
a pioneering position in the market,
where we have a platform that nobody
else can match. "
Global ambitions mean it is likely
fashion,
Paystone will,
in some
outgrow our little corner of the world.
With headquarters in both London
and Montreal, maybe the time is
already coming. (Remote work, too,
has greatly expanded their home base,
and Al-Ansari says he can't see them
requiring anyone to relocate to London,
though he'd be happy to recommend it.)
But London will always feature in
Paystone's story, says Al-Ansari, no
matter where things go from here. To
him, Paystone's billion-dollar ambition
will help pave the way for London's next
big tech export, and the next one and
the next one after that.
For the city's tech and business
community, the idea of the city being
home to a tech firm of this size is
appealing - a validation of the work the
city has put into developing itself as a
next-gen business hub.
" When we look across Canada, we
definitely see that we're becoming a
leading place for startups and scaling
companies, " says Christina Fox, president
of TechAlliance of Southwestern
Ontario. " When you have a company
like Paystone, they will attract talent.
They're attracting disruptors. "
This
isn't
just about Paystone
specifically, Fox says. Look at the experiences
of Waterloo and Ottawa - big
tech names are great advertising for
the city's tech sector, but they aren't
the be-all and end-all of the industry.
Where you really see the impact is often
in the breakaway startups, the spin-offs
and the companies that come after.
" Having anchor companies like
Paystone and others, it's really helpful, "
Fox says. " It means there's an appetite,
a mindset and an attitude that
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" I do believe that some of the secret
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" I really believe being able to build a
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showing that there is a company, led by
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" That's something for all of us to be
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London Inc. September 2021

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