News | TA
Summary
Far East Horizon Ltd (HKG: 3360), a provider of tailored financial leasing and other value-added services, partnered with TA on the investment. The Company focuses on a variety of sectors, including airline & travel, asset management, digital entertainment, education, fast moving consumer goods, insurance and telecom. “YeePay offers a number of very compelling investment attributes, including a diversified customer base featuring some of the leading brands in China, an attractive recurring revenue model and an experienced management team,” said Edward F. Sippel, Managing Director and Co-Head of Asia at TA Associates Asia Pacific Ltd. “As a pioneer in customized and innovative merchant payment solutions, YeePay has significant market share in a number of verticals, including dominant positions in airline & travel, digital entertainment and education. We are confident that our experience in China coupled with TA’s proven success investing in financial technology companies will form a valuable combination in accelerating the growth of YeePay.” According to iResearch, the third-party payment industry in China has grown significantly in recent years with a compound annual growth rate (CAGR) of 54.1% between 2011 and 2013, and a forecast CAGR of 40.1% between 2013 and 2017. This continued digitalization of payments should prove highly beneficial for YeePay.” YeePay joins TA Associates’ other current payment processing investments, including BillDesk (IndiaIdeas.com) in India and BluePay Processing in the U.S. YeePay also joins TA’s other current and past investments in Asia, including Aicent, BillDesk (IndiaIdeas.com), Dr Lal PathLabs, Fractal Analytics, Forgame Holdings, Idea Cellular, Micromax Informatics, Nintex, Rategain, SpeedCast together with its six associated acquisitions, and Tega Industries.