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Weatherford Capital Portfolio Company PayIt Receives Investment from Insight Partners

March 29, 2019

TAMPA, Fla.--(BUSINESS WIRE)--Mar 29, 2019--Weatherford Capital, a leading family-owned alternative investment firm, today announced its portfolio company PayIt has received an investment in excess of $100 million from Insight Partners, a New York-based venture capital and private equity firm. Weatherford invested in PayIt in 2016.

Kansas City, Missouri-based PayIt makes it simple, secure, and seamless for governments to accept digital payments and serve their constituents across web, desktop, and mobile. Its dynamic, cloud-based solutions are purpose-built for the public sector with modules spanning Motor Vehicle, Taxes, Utilities, and more. The new funding will allow PayIt to continue expanding its footprint and product capabilities.

“We are very pleased with PayIt’s success over the past several years and thrilled to welcome Insight Partners as an investor,” said Will Weatherford, Managing Partner, Weatherford Capital. “Under the leadership of John Thomson, PayIt has enjoyed continued strong growth, helping more individuals simplify doing business with local, state, and federal governments. As long-term investors, we are delighted to maintain our partnership with John and his team and look forward to a close collaboration with Insight Partners to help build further value in PayIt.”

“With their diverse investment, consulting and public sector experience, Weatherford Capital has proven to be a valued financial and strategic partner,” said John Thomson, Founder & CEO, PayIt. “As we begin this relationship with Insight Partners, we believe PayIt is poised for further accelerated growth. We are pleased Weatherford is remaining as an investor and continuing to serve on our board, and are confident they will continue to be meaningful participants in the ongoing evolution of PayIt.”

About PayIt
PayIt is simplifying doing business with state, local, and federal government through its award-winning digital government and payment platform. Along with our government partners, we are transforming the customer experience and making government more modern, convenient, and mobile. For more information on PayIt, visit  www.payitgov.com.

About Weatherford Capital
Weatherford Capital is a family-owned alternative investment firm founded in 2014. Our team has over 25 years of investment experience conducting over 50 transactions across the globe. We focus on making direct equity investments nationwide, with a preference for companies with a strategic focus on Florida. We seek to partner with business owners and deal partners who share our commitment to excellence, integrity, faith, family, and community.   For more information, please visit  www.weatherfordcapital.com.

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CONTACT: Caroline Collins

BackBay Communications

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KEYWORD: UNITED STATES NORTH AMERICA FLORIDA

INDUSTRY KEYWORD: PROFESSIONAL SERVICES FINANCE

SOURCE: Weatherford Capital

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PUB: 03/29/2019 01:23 PM/DISC: 03/29/2019 01:23 PM

http://www.businesswire.com/news/home/20190329005449/en