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YapStone Closes $60 Million Debt Financing Deal

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Just a few weeks shy of its Finovate debut, YapStone has secured $60 million in debt funding courtesy of Comerica Bank and Bregal Sagemount. The online- and mobile-payment technology specialist plans to use the capital to support growth in existing markets, as well as to support initiatives in new markets and new verticals.

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

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.

Comerica Bank has had a long relationship with YapStone, more than a decade according to Alan Jepsen, Comerica SVP and managing director for technology and life sciences. Bregal Sagemount, by contrast, is a newer partner. Speaking of his company’s new relationship with YapStone, Clayton Main, head of credit at Bregal Sagemount, says that YapStone has “established itself as the go-to provider for payments in several massive vertical markets and online marketplaces.”

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 nonprofit 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 is held 12/13 May 2015. Early bird savings are in effect through Friday, so visit our registration page and save your spot today.