TA Associates Invests in AffiniPay in Latest Deal in Payments

▤ Summary

Barron’s reported in December that the business, which produces $30 million a year in earnings before interest, taxes, depreciation and amortization, was up for sale. The Austin, Texas, company provides payments technology for specific industries such as law and accounting. Payments companies, which typically process transactions between merchants and customers, have emerged as one of the hottest sectors in financial technology. Great Hill is investing out of its seventh growth buyout fund, which closed on $2.5 billion in July. Great Hill, of Boston, invests in sectors including software, financial and health-care technology.

▦ Linked Companies

AffiniPay

$50M to $100M