YapStone Hires CFO

YapStone, a provider of Web and mobile payment solutions and processing for targeted vertical markets, has hired chief financial officer, Mary Hentges. She will lead the company’s global financial operations and work closely with the management team on the creation and execution of its business strategy, operating plan and corporate development activities. Accel Partners and Meritech Capital Partners made a $50 million minority investment in YapStone last year.

PRESS RELEASE

YapStone, a leading global provider of Web and mobile payment solutions and processing for targeted vertical markets, has hired high-profile Chief Financial Officer, Mary Hentges. In her new role, Hentges will lead the company’s global financial operations and work closely with the management team on the creation and execution of its business strategy, operating plan and corporate development activities.

Hentges has been CFO at CBS Interactive for two years, and prior to that held the position of CFO at PayPal. In her 7-year tenure as CFO at PayPal, she grew revenue ten-fold to $2.6 billion. Hentges will join the YapStone team beginning October 1.

“I have been fortunate to work with some of the leading interactive media and payment companies. With Yapstone’s lead in specialized payment solutions, I look forward to augmenting the company’s success in this new role,” said Hentges.

Recently, Yapstone rolled out new Web and mobile bill pay products in several new vertical markets and the company also has plans to expand globally. In the past year alone, YapStone’s revenue is up 50%, profits have gone up over 100%, and Accel Partners led a $50 million minority investment in the company.

“I’m confident that Mary will have a profound impact on the future of YapStone as we are entering the most exciting time in the company’s history,” said Tom Villante, Chairman and Co-founder of Yapstone. “Mary will be more than our senior-most finance executive – she has the ability and experience to help YapStone disrupt and innovate payment markets around the world. She’s one of very few who have done it before.”

About YapStone

YapStone is a leading global provider of web and mobile payment solutions and processing for targeted vertical markets such as apartments (rentpayment.com), vacation rentals (vacationrentpayment.com), Homeowner Associations (duespayment.com), bed and breakfasts (innpayment.com), utilities (utility-payment.com) and non-profit (parishpay.com) as well as several new bill payment markets. YapStone’s payment service processes billions of dollars annually, with an on-demand platform that offers Web-based and mobile payment processing and integration to its clients’ accounting systems and websites. YapStone’s technology includes a unified, real-time reporting platform, credit/debit card, electronic check processing and check conversion. YapStone has been recognized in Inc. 5000 Fastest Growing Private Companies for the last 5 years. In 2011, Accel Partners and Meritech Capital Partners made a $50 million minority investment in YapStone.

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