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.”