YapStone, a global provider of Web and mobile payment technology products for large vertical markets and online marketplaces, recently closed a $60 million financing package with Comerica Bank and Bregal Sagemount. 

YapStone said in a press release that it has grown 30–40 percent per year over the past 15 years. The financing will enable the company to accelerate its growth initiatives in its existing markets, and also allows YapStone to aggressively pursue explosive growth opportunities in new verticals and new marketplaces, according to the announcement.

"YapStone has established No.1 market positions in multiple $100 billion-plus markets with a flexible platform and deep vertical expertise. We've also proven our ability to power the largest, highest-growth marketplaces in the world, including HomeAway and VRBO, with highly customized product development, engineering and customer support," Tom Villante, YapStone chairman and CEO, said in a statement. "We expect to process over $14 billion in transaction volume this year and are well positioned to further capitalize on the global trend towards increasing electronic payments in huge markets once dominated by the paper check."

"Comerica Bank has been growing with YapStone for almost a decade and our relationship with the company illustrates Comerica's ability to scale with our best customers through multiple stages of growth," said Alan Jepsen, senior vice president and managing director of Comerica's technology and life sciences division. "We're looking forward to continuing to help the company achieve its strategic and financial objectives for years to come."