Pushpay Acquisition, Valuation, Funding & Investors

Pushpay was acquired by Sixth Street and BGH Capital for $933M in March 2023, a 5.2x multiple on $181M of revenue.

Pushpay acquisition price

$933M

Acquired by Sixth Street, BGH Capital · Mar 2023

Pushpay revenue at acquisition

$181M

Last twelve months · Mar 2023

Pushpay revenue multiple at acquisition

5.2x

EV/Revenue · Mar 2023

Cumulative funding Pushpay raised

$13M

across 7 funding rounds

Pushpay Overview

About Pushpay

Pushpay is a software company that provides mobile giving, donor management and church management software to churches and faith-based organisations. Its platform lets congregations accept donations through apps, text and online forms, manage members and run communications and engagement tools, and it earns revenue from software subscriptions and payment processing on donations. The company was founded in Auckland, New Zealand, in 2011 by Chris Heaslip and Eliot Crowther and is run from Redmond, Washington, serving mostly United States customers. It listed on the New Zealand exchange in 2014 and on the Australian exchange in 2016. Sixth Street and BGH Capital took it private in 2023. It has grown by acquiring Church Community Builder, the Resi video streaming platform and Nurture.io.


Founded

2011

HQ

United StatesRedmond

Status

Acquired

Customer focus

B2B

Revenue model

Subscription

Revenue

$179M (Mar 2021)

Valuation

$933M (acquired Mar 2023)

Pushpay Acquisition

Pushpay was acquired by Sixth Street and BGH Capital for $933M on 16 March 2023.

The acquisition price implies a 5.2x revenue multiple on $181M of revenue.

Before the acquisition Pushpay had raised $13M across 7 funding rounds.

Pushpay Holdings agreed on 16 March 2023 to an increased takeover offer of NZ$1.42 per share from a consortium of Sixth Street and BGH Capital, acting through Pegasus Bidco, and the company was delisted from the NZX and ASX in May 2023 after the scheme was implemented. The consortium had first signed a scheme implementation agreement in October 2022 at NZ$1.34 per share, but shareholders voted the original scheme down on 3 March 2023, after which the price was raised. Sixth Street was already one of Pushpay's largest shareholders, having bought the remaining stake of the Huljich family's Christopher & Banks in March 2021, and it took the company private together with BGH Capital, the Australian private equity firm. Pushpay was founded in 2011 by Chris Heaslip and Eliot Crowther in New Zealand and is run from Seattle. It provides donor management, mobile giving and church management software to churches and faith-based organisations, mostly in the United States. The company listed on the NZX in 2014 and on the ASX in 2016, and revenue comes from software subscriptions and payment processing fees on donations. Molly Matthews was chief executive at the time of the take-private.

Pushpay acquisition details
AcquirerDateTypePriceEV/Revenue
  • Sixth Street
  • BGH Capital
16 Mar 2023PE buyout$933M5.2x

Sources: en.wikipedia.org, nzherald.co.nz, marketscreener.com

Pushpay Revenue

Pushpay's latest recorded revenue is $179M, as of its secondary sale in March 2021.

Pushpay revenue by funding round

Pushpay revenue and valuation multiple by funding round
DateRevenue *Stage
Mar 2021$179MSecondary

* Revenue (or ARR) figures are the values recorded alongside each funding round. Typically run-rate revenue at the time of the deal, or a reported LTM (last 12 months) revenue.

Pushpay Funding History

Pushpay has raised a total of $13M across 7 funding rounds, plus 1 secondary share sale.

Pushpay's first fundraising round was a $400K angel round in February 2013. The most recent completed round was a $8M undisclosed-stage round in July 2014.

Pushpay funding rounds

Pushpay funding rounds
DateStageInvestorsRaisedDeal Summary
Mar 2021SecondarySixth Street-Sixth Street agreed in March 2021 to buy all of the Pushpay shares held by Christopher & Banks V Limited, the investment vehicle of Peter and Christopher Huljich. The agreements were signed on 22 March 2021 and Pushpay announced them the next day, with completion expected on 30 March 2021. Sixth Street was already a Pushpay shareholder and became its largest shareholder, holding about 17.8% of the shares once the purchase completed. The Huljich family had invested in Pushpay in 2013, ahead of its 2014 listing, and the press reported the sale of its remaining stake at NZ$320 million. Pushpay's chairman Graham Shaw said Sixth Street's experience as a technology and growth investor, with a focus on the convergence of software and payments, would strengthen the share register. Pushpay provides giving, donor management and church management software to churches and faith-based organisations, mostly in the United States, and Sixth Street and BGH Capital took it private in 2023.
Jul 2014Undisclosed stageChristopher & Banks$8MPushpay announced in June 2014 that it would raise NZ$9 million through a private share issue at NZ$1 a share, ahead of a compliance listing on the New Zealand stock exchange planned for the following month. Christopher & Banks, the investment vehicle of the Huljich family, had provided the company's earlier pre-IPO funding and took part in the issue. The proceeds were to fund the company's expansion. Pushpay was created by Chris Heaslip and Eliot Crowther in February 2011 and was based in Auckland. Its mobile service lets churches and other organisations take donations and payments, and the business later grew into church management and donor management software for faith-based organisations in the United States.
Apr 2014Seed-$2MChristopher & Banks, the investment vehicle of the Huljich family, put a further seed investment into Pushpay in April 2014, ahead of the company's listing on the New Zealand stock exchange later that year. Pushpay's 2018 annual report describes Christopher & Banks as the source of the sole pre-IPO funding, and the Huljich family held its stake until it sold the remaining shares to Sixth Street in March 2021. Pushpay was created by Chris Heaslip and Eliot Crowther in February 2011 and was based in Auckland. Its mobile service lets churches and other organisations take donations and payments, and the business later grew into church management and donor management software for faith-based organisations in the United States.
Feb 2014Angel-$300K-
Dec 2013SeedChristopher & Banks$2MChristopher & Banks, the investment vehicle of the Huljich family, invested in Pushpay in December 2013 in a seed round, ahead of the mobile giving company listing on the New Zealand stock exchange in 2014. The Huljich family put money into Pushpay in 2013 and held its stake until March 2021, when it sold its remaining shares to Sixth Street. Pushpay's 2018 annual report describes Christopher & Banks as the source of the sole pre-IPO funding. Pushpay was created by Chris Heaslip and Eliot Crowther in February 2011 and was based in Auckland. Its service lets churches and other organisations accept donations and payments through a mobile app, and it later became a church management and donor management software business serving faith-based organisations in the United States.
Jul 2013Angel-$300K-
May 2013Angel-$100K-
Feb 2013Angel-$400K-

Who has invested in Pushpay?

2 investors have backed Pushpay across its funding rounds, including Christopher & Banks and Sixth Street.


Pushpay Investors

Investors in Pushpay by funding rounds participated
InvestorHQRoundsRoleFirst check

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Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples

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Acquisitions by Pushpay

Pushpay has acquired 3 companies to date.

Last acquisition by Pushpay was on April 22nd 2026. Pushpay acquired Nurture.io for undisclosed valuation.


Latest Acquisitions by Pushpay

Nurture.io
Resi
Church Community Builder
Description
Nurture.io is a church software company that provides a pastoral care and engagement platform for congregations in the United States. The product connects to a church's existing technology through more than 17 integrations, including church management systems, giving platforms and communication tools, and combines those data into a single view of each person's attendance, volunteering and giving. It flags people whose engagement is falling, assigns a follow-up to a named staff member and tracks whether the person re-engages. Churches buy it as hosted software, and it also works for churches that do not use Pushpay's own products. The company was founded in 2024 by Luke Denton, a former executive pastor at one of the largest churches in the United States. Pushpay acquired it in April 2026, and Denton stayed on to lead the business, which now sits alongside Pushpay's giving, church management and Resi streaming products.
Resi is a Plano, Texas-headquartered streaming technology company founded in 2014 that delivers reliable live video broadcasts via its Resilient Streaming Protocol. The RSP software eliminates buffering and frame drops through multi-path transmission over WANs. Resi serves multi-site organizations like churches and event producers with hardware encoders and cloud transcoding. It supports web embeds and mobile apps worldwide.
Church Community Builder is a Denver-headquartered provider of cloud-based church management software. The platform streamlines member engagement, event planning, volunteer coordination, and small group tracking for churches worldwide. Integrated tools handle check-ins, giving, and communication via mobile apps. Used by over 4,000 congregations, it supports multisite operations with custom workflows. Established in 2007, the company offers training and process consulting to enhance ministry effectiveness.
HQ CountryUnited StatesUnited StatesUnited States
HQ City
-
Dallas, TX
Colorado Springs, CO
Deal Date22 Apr 202622 Aug 202112 Dec 2019
Valuationundisclosed$150M$88M
EV/Revenue
EV/EBITDA

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Pushpay Competitors

Pushpay competitors include listed companies like Fujian Boss Software, Pine Labs and Hightech Payment Systems, and private ones like Mudflap, DgPays and Getcourse.ru.

Public and private companies comparable to Pushpay
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
Fujian Boss SoftwareChinaChinaPublicly listed$301M$40M$865M2.9x
MudflapUnited StatesSan Francisco, CAPrivate--$700M-
DgPaysTurkeyİstanbulPrivate--$600M-
Getcourse.ruRussiaMoscowPrivate--$600M-
Pine LabsIndiaIndiaPublicly listed$255M$14M$2B3.0x
Hightech Payment SystemsMoroccoMoroccoPublicly listed$151M$28M$395M2.4x

Pushpay Public Comps

Pushpay is no longer listed, but its public comps include Guotai Epoint Sofware, PicPay, Beijing eGova, Fujian Boss Software, Sumavision, Harmonic, PaySign, e-Hualu, Fawry and Linewell Software.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
Guotai Epoint Sofware$276M$14M1.7x1.9x33.5x32.5x
PicPay$1.1B$205M0.8x0.3x4.3x2.6x
Beijing eGova$90M($52M)7.7x-(13.2x)-
Fujian Boss Software$301M$40M2.8x2.9x21.0x21.1x
Sumavision$110M$11M6.3x-61.2x-
Harmonic$361M$24M2.6x1.8x39.8x8.0x
PaySign$82M$16M9.8x7.3x51.5x22.8x
e-Hualu$70M($312M)22.3x-(5.0x)-

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Common questions about Pushpay

When was Pushpay founded?Pushpay was founded in 2011.
Where is Pushpay headquartered?Pushpay is headquartered in Redmond, United States.
Is Pushpay publicly listed?No, Pushpay was acquired by Sixth Street and BGH Capital in March 2023.
Who acquired Pushpay?Pushpay was acquired by Sixth Street and BGH Capital in March 2023.
How much was Pushpay acquired for?Pushpay was acquired for $933M in March 2023, a 5.2x revenue multiple.
How much funding has Pushpay raised?Pushpay has raised $13M across 7 funding rounds.
What was Pushpay's last funding round?Pushpay's last funding round was a $8M undisclosed-stage round in July 2014.
Who are Pushpay's investors?Pushpay's investors include Christopher & Banks and Sixth Street.
What is Pushpay's revenue?Pushpay's latest recorded revenue is $179M (March 2021).
Which companies are comparable to Pushpay?Companies comparable to Pushpay include Fujian Boss Software, Mudflap, DgPays, Getcourse.ru, Pine Labs and Hightech Payment Systems.
How many companies has Pushpay acquired?Pushpay has acquired 3 companies, including Nurture.io, Resi and Church Community Builder.
What was the largest acquisition by Pushpay?The $150M acquisition of Resi in August 2021 is the largest acquisition Pushpay has made to date.

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