Lightyear Capital completes acquisition of PayByPhone
VANCOUVER, CANADA April 1, 2026
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 Lightyear, visit www.lycap.com.