YapStone Raises $71 Million in Series C Funding
Payments company YapStone announced the first closing in a Series C funding round, raising $71 million. Premji Invest led the round and was joined by several high-profile investors, including Mastercard and existing investors Accel and Meritech Capital Partners.
YapStone’s configurable payment system enables marketplace and software customers to monetize transactions flowing through their platforms and improve conversion while minimizing capital and operational expense. Customers can auto on-board in seconds, giving them access to the company’s full range of payment methods for consumers, flexible global payouts to merchants, instant and deferred funding, and split payments functionality.
According to the company, YapStone’s growing portfolio of payment-based products has driven strong growth among enterprise customers, particularly in the explosive sharing-economy marketplace space. The new funding will be used to expand its product features, broaden its geographic footprint and help the company aggressively pursue mergers and acquisitions to accelerate growth.