YapStone Closes $60 Million Debt Financing Deal

Just a few weeks shy of its Finovate debut, YapStone has secured $60 million in debt funding courtesy of Comerica Bank and Bregal Sagemount. YapStone a global provider of web and mobile payment technology solutions for large vertical markets and online marketplaces plans to use the capital to support growth in existing markets, as well as to support initiatives in new markets and new verticals.YapStone has grown 30-40 percent per year over the past 15 years.

 

mgmt-team-tom-villante

YapStone CEO and Chairman Tom Villante

“Our mission since we founded the company has been to change how the world pays in huge vertical markets,”  “I strongly believe we’re just scratching the surface.” said Tom Villante.

“YapStone has established No. 1 market positions in multiple $100B+ markets with a flexible platform and deep vertical expertise. We’ve also proven our ability to power the largest, highest growth marketplaces in the world, including HomeAway and VRBO, with highly customized product development, engineering and customer support,”

“We expect to process over $14B in transaction volume this year and are well positioned to further capitalize on the global trend towards increasing electronic payments in huge markets once dominated by the paper check.”

 

 

Previous to this most recent round, YapStone had raised just over $50 million in equity capital via a venture round in 2009, and another in 2011.

“Bregal Sagemount is excited to partner with the YapStone team on the Company’s next phase of growth,” said Clayton Main, Head of Credit at Bregal Sagemount. “With the Company’s market-leading technology and innovative management team, YapStone has established itself as the go-to provider for payments in several massive vertical markets and online marketplaces. This investment illustrates the flexible capital approach Bregal Sagemount looks to employ when investing in industry-leading companies seeking equity or debt capital.”

Comerica Bank has been growing with YapStone for almost a decade, and their relationship with the company illustrates Comerica’s ability to scale with our best customers through multiple stages of growth. “We looking forward to continuing to help the company achieve its strategic and financial objectives for years to come,” said Alan Jepsen, Senior Vice President and Managing Director of Comerica’s Technology and Life Sciences Division.

Financial Technology Partners LP and FTP Securities LLC (“FT Partners”) served as exclusive financial adviser to YapStone in this transaction.

YapStone was founded in 1999, and is headquartered in Walnut Creek, California. The company’s platform drives electronic payments for marketplaces such as HomeAway and VRBO, and is used in a variety of verticals ranging from apartment and vacation rentals to non-profit organizations. The company processes more than $14 billion in payment volume each year, and has been recognized by Inc. Magazine as one of the Fastest Growing Private Companies for each of the last seven years.

Come see and meet YapStone at FinovateSpring 2015 in San Jose. The conference begins on May 12 and continues through May 13th.

Author: Jason Williams

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