Founded in 1999, Yapstone is an electronic payment solutions provider. They initially were known for their e-payment features for rental verticals, which allowed landlords to organize payments into categories such as security deposits, late fees, and monthly rent, and allowed renters to pay with their credit card.
Since then, Yapstone grew into payment flows and marketplace specific options, such as those offered in real estate or sharing economy businesses. Yapstone also collects data for bookkeeping and accounting for partnered businesses, and possibly reducing cost for those businesses.
Yapstone's Transact platform addresses the complexity and evolving industries which require payment services and works to adhere to updated regulations and protect against fraud. The platform also allows customization for individual business models through Transact's foundation of micro-services.
Announced in April, 2000, Yapstone raised $2 million in funding. Villante Capital Partners led the round, which included investments from TPG, Imperial Capital and Gilbert Global Equity Partners.
Venture funding - 2009
Raised in 2009, Yapstone raised $3.4 million in an unannounced funding round. Investors were undisclosed.
Venture Funding - 2011
In another undisclosed funding round, Yapstone raised $50 million. Accel Partners led the round which included Meritech Capital Partners.
Announced in February 2018, Yapstone raised $71 million. Premji Invest led the round, with participation from MasterCard, Accel Partners and Meritech Capital Partners. The Series C would finish once reaching $100 million according to the Form D filed with the SEC. The February announcement valued Yapstone at $471 million.
Yapstone announced a partnership with Couchbase, Inc. in April 2018 to grow its payment platform for global shared economies and marketplaces. Couchbase offers a NoSQL , cloud-based database for business-critical applications in a scalable platform.
PPRO Group partnership
In July 2018, Yapstone announced a partnership with PPRO Group. PPRO Group is a cross-border, e-payment provider who, through the partnership, will enable Yaptsone's Alternative Payment Methods (APMs) or Local Payment Methods (LPMs) across borders and expand Yapstones global reach.
Priority Technology Holdings, Inc. partnership
Announced in March, 2019, Priority Technology Holdings, Inc. partnered with Yapstone to build Priority Real Estate Technology, a subsidiary of Priority Technology. Priority Tehcnology provided merchant acquiring and commercial payment solutions. Yapstone will provide credit and debit card processing to Priority Real Estate Technology, as well as its real estate processing technology, property management contracts and customer relationships in rent, storage and dues markets. They will also hold a minority stake in Priority Real Estate Technology, which represents less than 10% of Yapstones overall market.
Yapstone raises a $71,000,000 series C round from Accel Partners, PremjiInvest, Meritech Capital Partners and MasterCard.
Bruce E Holton
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