Fraud Protection and Digital Payments Firm Vesta Sells Majority Stake of Business to Goldfinch Partners for $125 Million

Vesta, a fraud protection and electronics payments firm based in Lake Oswego, has reportedly sold its majority stake in its business to Goldfinch Partners for $125 million.

Seattle-based Goldfinch Partners is a private equity firm established in 2018. Before this recent transaction, Vesta’s ownership was split between several different shareholders, however, none of them owned over 10% of the business at any point.

Vesta has 337 professionals on its payroll, which includes 139 staff members based in Oregon. Founded in 1995, the Fintech firm claims its technology and software handles the processing or security for billions of dollars in digital transactions each year.

As first reported by Oregon Live, Goldfinch Partners’ share purchase of the Fintech firm is the largest for an Oregon-based tech company in the past few months, and has come even though the COVID-19 outbreak has created significant challenges for businesses in almost all sectors.

Ron Hynes, CEO at Vesta, stated:

“The fact that we were able to complete this funding in the current environment is confirmation of the market need for our solution and a tremendous nod to our talented team.” 

Hynes did not share more details regarding the deal.

Many other Fintechs continue to raise funds despite the ongoing pandemic. Digital challenger Starling Bank has acquired £40 million in funding in order to support its ongoing growth and development.

San Francisco’s Fintech Brex also recently secured $150 million in capital to grow its business, but had to make the tough decision of laying off many staff members, in order to restructure its operations to better cope with challenges associated with the Coroanvirus.

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