- page 9

9
NOVEMBER 2016
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The Canadian Business Journal
called paysafecard, which is a cash voucher
that you can buy at retail and then enter into
various websites and into our electronic wallets.
paysafecard, which sits within our prepaid
division, sold about $3 billion in vouchers last
year and complements our Digital Wallets and
Payment Processing divisions.”
The official name change to Paysafe was
unveiled on November 10, 2015.
“Our market cap has gone from about $5
million in 2008 to about $200 million in 2011
and it was about $3 billion U.S. in 2015,” reveals
Leonoff. “Certainly we have aspirations of pursu-
ing very aggressive growth and hopefully we can
ramp up to a number closer to $10 billion over a
certain period of time. It’s been a great story and
a lot of hard work. Paysafe is a mix of business
in Canada, the US and Europe with new hubs
in India but certainly this was a very Canadian-
centric story for a long time.”
In the early, formative years the company
was comprised of about 100 people, with 95% of
the personnel based out of Montreal.
“Our business really got its start here in
Canada out of Montreal. If you fast forward to
today our very small beginnings have manifested
themselves into something far larger,” adds
Chazonoff.
Paysafe also operates sizable locations in
Vienna, Austria, Sofia, Bulgaria as well as London
and Cambridge in the UK and there are more
than 100 people in Irvine, California. In March,
1,2,3,4,5,6,7,8 10,11,12,13,14,15,16
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