Lightyear Capital Completes Acquisition of PayByPhone

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’s aim is simple: simplify your journey so you can focus on what matters most. As a wholly-owned subsidiary of Volkswagen Financial Services AG, it is one of the fastest-growing mobile payments companies in the world, processing more than $550 million in payments and over 5 million downloads per year. Available in more than 1,200 cities across the globe, PayByPhone helps millions of consumers easily and safely pay for parking without the hassles of coins, lines, or fines. Its smart, intuitive technology is at the center of its user-first approach, delivered to make everything as simple as possible. For more information, please visit www.paybyphone.com

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/.