Vancouver, Canada – Lightyear Capital, a New York-based private equity firm with over US$8 billion in assets under management, has completed its acquisition of PayByPhone, a leading provider of digital parking payments and mission-critical parking management software to more than 1,300 clients globally, from Corpay (NYSE: CPAY).
The acquisition leverages Lightyear’s extensive expertise in software and payments to drive PayByPhone’s continued product innovation, to accelerate growth, and to deliver value to PayByPhone’s growing customer base. Under Lightyear’s ownership, PayByPhone operates as a stand-alone, independent business.
Jonny Combe, President and Chief Executive Officer, PayByPhone, says, “Today marks a pivotal milestone in PayByPhone’s growth strategy and strengthens our ability to deliver best-in-class products, service and support for our clients wherever they are. We are confident about the future and look forward to a strong and exciting journey with Lightyear.”
This is Lightyear’s 18th carveout transaction and eighth investment in vertical software and payments.
To learn more about PayByPhone, visit www.paybyphone.com. Follow PayByPhone on Facebook, Instagram and LinkedIn.
To learn more about Lightyear, visit www.lycap.com.
ABOUT PAYBYPHONE
PayByPhone is a global leader in mobile parking payments. We simplify the journeys for millions of people through our smart, intuitive mobile payment technology and exciting features. We work with over 1,300 cities and operators across the UK, North America, France, Germany, and Switzerland. More than 110 million drivers worldwide have downloaded the PayByPhone app to simplify their parking and vehicle payments to date.
To discover how our products and services can elevate your driving experience, please visit www.paybyphone.com
PayByPhone. We simplify your journey, so you can focus on what matters most.
ABOUT LIGHTYEAR CAPITAL
Lightyear Capital is a New York-based private equity firm that partners with growing companies at the nexus of financial services and technology, health care and business services. For over 25 years, Lightyear has worked closely with management and leveraged its industry expertise, network of advisors and operating resources to accelerate growth and build market-leading businesses. As of December 31, 2025, the firm had assets under management of US$8.1 billion. For more information, please visit www.lycap.com/.
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