Leonis Advises F1 Payments on its Strategic Capital Investment from York Capital
AUSTIN, Texas & NEW YORK, Dec. 3, 2020 – F1 Payments (the “Company”), a fintech company focused on increasing business velocity for all constituents in the payments ecosystem, today announced it has received a strategic recapitalization and growth investment from an affiliate of York Capital Management. Financial terms of the transaction were not disclosed.
In conjunction with the transaction, Chad Anselmo, President, has been named Chief Executive Officer. F1 Payments Founder, Shane Hibbeler, has retired from the Company. Sunil Kappagoda, a 30-year fintech executive who previously held senior leadership positions at Verifone and Boston Consulting Group has joined F1 Payments as Chairman of the Board of Directors.
F1 Payments delivers quick, secure and easy-to-use payments services to financial agents, merchants and institutions. The Company will leverage the investment to further accelerate its rapid growth, both organically and via strategic acquisitions.
“We are incredibly excited to partner with York Capital during this next phase of growth for the Company,” said Anselmo. “We remain laser-focused on increasing business velocity, delivering integrated technology solutions and driving superior business performance for our customers while continuing to execute our H.I.G.H.E.R. core values.”
“F1 Payments has built an impressive business with runway for growth in just a short amount of time,” said Harish Nataraj, Managing Director at York Capital. “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,” added Nataraj.
Led by Robert Koven, Leonis Partners acted as the exclusive financial advisor to F1 Payments. “We partnered with Leonis because their detailed knowledge of the Payments and FinTech strategic and private equity investor landscape, their understanding of the intricacies of our business model and competitive ecosystem, and their ability to create a bespoke process unique to our stakeholders’ needs,” said Chad Anselmo. “The net result enabled us to find a partner that provided the capital and expertise to continue to build on F1 Payments’ success.”
About F1 Payments
F1 Payments delivers a dynamic and diverse payments technology ecosystem with frictionless connections. We engage stakeholders using H.I.G.H.E.R. core values to provide transparent payments. Our clients and partners enjoy increased velocity by accessing top-notch payments expertise, seamless integrations and highly personal relationships, giving them the freedom to focus on what matters most in business and life. F1 Payments is a registered ISO of Fifth Third Bank, N.A., Cincinnati, Ohio; Wells Fargo Bank, N.A. Walnut Creek, California; and Cross River Bank, Fort Lee, New Jersey. The company is a fast-growing, privately held fintech company headquartered in Austin, Texas. For more information, please visit f1payments.com.
About York Capital Management
York Capital Management is a global private investment firm established in 1991. The firm manages approximately $15.2 billion in assets across public and private investment strategies, including its private equity platform, the York Special Opportunities Fund. York Capital employs approximately 60 investment professionals and 200 employees globally, primarily in New York, London and Hong Kong. For more information please visit York Capital’s website at www.yorkcapital.com.
About Leonis Partners
Leonis Partners serves as a full-service advisor to entrepreneurs and their businesses. Calling on decades of experience from some of the largest leading global financial institutions, Leonis crafts highly calibrated solutions to achieve our clients’ needs as it pertains to M&A, Capital Raising, Fairness & Valuation Opinions, and other Special Situations. Our experience and track-record in each of these core areas continues to provide our clients with superior results. The firm is headquartered in New York. For more information on Leonis Partners, visit www.leonispartners.com.