Payments Tech Firm PayArc Lands Investment
Summary
The company said it will use the capital to carry out a number of strategic growth initiatives and expand its suite of integrated payment functions. Bregal Sagemount has invested in businesses in a range of sectors, including FinTech, healthcare IT and services, and digital infrastructure. In 2020, the firm invested $80 million in the business spend management Corcetric, which last year used those funds to purchase B2B payments network Vendorin. “We have been very impressed with Bregal Sagemount’s track record of partnerships across the payments sector and proven ability to help its partners scale to new levels,” said Jared Ronski, who founded PayArc with Zach Martinez. “We’re excited to partner with PayArc to provide the resources and operational expertise that will ensure they continue to deliver a leading integrated technology platform, drive superior payment solutions, and support their customers at the highest level,” said Clayton Main, a partner at Bregal Sagemount who will join the PayArc Board of Directors along with Jon Sonnenschein and Zach Month.