This investment by Vista validates the market leadership we’ve built to date, and gives us the opportunity to expand our products and services for the property management industry.
San Diego, CA (PRWEB)
June 28, 2017
PayLease, a leading payments and billing provider for the property management and HOA industry, today announced that Vista Equity Partners (“Vista”), a leading technology investment firm, has acquired a majority stake in the Company. Vista’s investment will further support PayLease’s accelerated organic growth, including potential future acquisitions. Existing investor, Francisco Partners, as well as PayLease’s Management Team, will retain significant ownership stakes in the Company.
Founded in 2003 and headquartered in San Diego, CA, PayLease offers online payments, resident billing, and utility expense management tools to property management companies. The Company serves more than 4,500 property management companies nationwide. PayLease joins the Vista family after experiencing years of rapid growth and success within the property management industry.
“This investment by Vista validates the market leadership we’ve built to date, and gives us the opportunity to expand our products and services for the property management industry,” said Dave Dutch, CEO of PayLease. “Our vision for making key business processes easier for property managers while delivering exceptional customer support remains the same, and we will continue to develop solutions that align with that goal. This marks the beginning of a new chapter for PayLease and we are excited for what the future holds,” he added.
“PayLease’s market leadership, fantastic culture and dedication to its customers create a unique and special opportunity. We are thrilled to partner with the…