PayPal, Stripe, Adyen, and Dwolla may hold the spotlight in the fintech world, but YapStone is steadily making its mark. The company has raised a significant $100 million Series C round to expand geographically and explore new technologies.
YapStone provides payment services for various marketplaces such as HomeAway, ParishPay, and more. With this latest funding injection, the company will continue pushing forward in an increasingly competitive landscape.
The startup has confirmed its \(71 million [Series C first close](https://www.prnewswire.com/news-releases/yapstone-raises-over-70-million-in-series-c-funding-300596526.html), which is expected to total \)100 million when completed. The funds will be used to expand operations and develop new technologies under the helm of CEO and co-founder Tom Villante.
The money raised today values YapStone at approximately \(471 million, according to PitchBook. When combined with the Series C, the total valuation could reach \)500 million.
Premji Invest, led this investment round with significant backing from MasterCard and previous investors Accel and Meritech Capital Partners.
yapstone has been quietly making its mark in the market, processing over $18 billion in payments annually. While it might not be as well-known as some other payment providers, YapStone is growing at a rapid rate of over 35% for the past ten years.
Despite the crowded market for payments services, YapStone has differentiated itself by creating tailored payment flows and options specific to its target marketplaces. For example, it provides property businesses with the ability to itemize different kinds of payments made—from late fees to deposits to monthly rent.
yapstone also highlights that its systems are more robust and take into account the higher risk associated with marketplace payments, which is why some payment providers may be wary about providing these services.
Additionally, by offering more than just simple payments, YapStone helps streamline data management for business clients in ways that save operational costs while providing a valuable service.
This could be one reason Premji Invest—with its outsourcing DNA—was interested in investing. Sandesh Patnam, the lead U.S. partner at Premji Invest, said:
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