Payment Processor YapStone Raises $71 Million, While Competitor Dwolla Pulls In $12 Million
YapStone, a payments solution provider for global marketplaces, has raised $71 million in a Series C funding round.
The round, made public yesterday, was let by Premji Invest and includes investors Mastercard, Accel and Meritech Capital Partners, to name a few.
The new funding, which brings the company’s valuation to $471 million, will be used for growth initiatives.
Based in California, YapStone provides online and mobile payment solutions for global marketplaces, software, and large vertical markets. It processes more than $18 billion per year. Some of its competitors include PayPal, Adyen and Dwolla, which incidentally announced a $12 million funding today. Dwolla’s round was led by Foundry Group and included Union Square Ventures, Next Level Ventures, Ludlow Ventures, High Alpha, and Firebrand.
In a statement YapStone CEO and Co-Founder Tom Villante said:
YapStone has grown over 35% annually for the past decade and 2017’s growth was exceptional. This funding will help us grow our leadership position in serving global marketplaces and software companies, utilizing new technologies in expanded geographies.
Read more on Finextra, Dwolla, Cision PR Wire and PaymentsSource.
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