FinTech F1 Payments has picked up a strategic recapitalisation and growth investment from private investment house York Capital Management.
The company aims to deliver quick, secure and easy-to-use payments services to financial agents, merchants and institutions.
F1 Payments founder Shane Hibbeler has retired from the company in conjunction with the investment, with president Chad Anselmo being named CEO and 30-year FinTech veteran Sunil Kappagoda coming in as board chairman.
York managing director Harish Nataraj said, “F1 Payments has built an impressive business with runway for growth in just a short amount of time.
“It’s an exciting time in payments and we are pleased to have the opportunity to support the Company’s profitable growth strategy and upward trajectory with our financial and operational expertise.”
York made the deal through its $800m Special Opportunities Fund III, which it raised earlier this year.
Leonis Partners acted as financial advisor to F1 Payments. Keefe, Bruyette & Woods, a Stifel company, served as financial advisor to York.
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