F1 Payments, a U.S.based fintech that’s focused on increasing business velocity for all constituents in the payment ecosystem, announced on Thursday it scored a strategic recapitalization and growth investment from an affiliate of York Capital Management. In conjunction with the transaction, Chad Anselmo, President, has been named CEO, with F1 Payments Founder, Shane Hibbeler, has retired.
Founded in 2017, F1 Payments is committed to acting as ONE with partners and clients. The company takes a “family approach” in offering consulting services that are relevant to the growth of your business.
“ If we do not offer a desired product or service, we will leverage our expansive network to find you a solution. With over 20 years in the payment industry, you can rely on us to help you achieve your dreams and goals for your business.”
Speaking about the investment, Anselmo stated:
“We are incredibly excited to partner with York Capital during this next phase of growth for the Company. 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.”
Harish Nataraj, Managing Director at York Capital, added:
“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,” added Nataraj.
Financial terms of the transaction were not disclosed.