FT Partners Advises YapStone on its $60mm Debt Financing
Overview of Transaction
- On March 31, 2015, YapStone announced the completion of its $60mm debt financing package comprised of $20mm of subordinated debt from Bregal Sagemount and a $40mm senior credit facility with Comerica Bank
- YapStone is a leading global provider of web and mobile payment technology solutions and expects to process over $14 billion in payment volume annually for mobile marketplaces, including HomeAway and VBRO, as well as for targeted, large vertical markets, including apartment and vacation rentals, HOA communities, self-storage and non-profits
- The financing enables the Company to accelerate its growth initiatives in its existing markets and allows YapStone to aggressively pursue explosive growth opportunities in new verticals and new marketplaces
- Bregal Sagemount is a growth-focused private equity firm with $650mm of committed capital
- Comerica Bank is a financial services firm that provides business and retail banking and wealth management services
Significance of Transaction
- This investment validates the increasing importance of technology-enabled payments providers and recognizes the strength of YapStone's service offering
- Provides additional capital and key partnerships with Bregal Sagemount and Comerica Bank to accelerate growth
FT Partners' Role
- FT Partners served as exclusive strategic and financial advisor
- Demonstrates FT Partners' continued strength in the Payments sector and ability to partner with leading firms and assist them in achieving their long-term strategic and capital raising goals
- FT Partners also advised YapStone on its previous $50mm minority investment led by Accel Partners