A PayStream spokeswoman confirmed the acquisition to Recruiter today (Friday), saying the deal had been done as part of “our ongoing growth strategy”. The Outsauce acquisition follows PayStream’s purchase last December of another player in the market, Simplyco.

“These acquisitions provide us with wider market access and give us the opportunity to build on existing relationships with PayStream’s … technology and customer service,” the spokeswoman said.

UPDATE: Richard Foster, Outsauce Financing operations director, said: "With this deal now completed, Outsauce Financing are looking forward to being able to focus on our back office support and financing solutions, and continuing to provide the best level of service to our current and prospective clients. We are extremely excited about the year ahead and the new opportunities this deal may create."

No sale price was provided.