Lightyear Capital, a New York-based private equity firm has signed an agreement to acquire PayByPhone from Corpay. The sale is expected to close in the second quarter of 2026, subject to regulatory approvals.
Lightyear Capital has over $7 billion in assets under management and partners with growing companies at the nexus of financial services and technology, business services and healthcare. It aims to build market-leading businesses and accelerate their growth.
PayByPhone provides mobile parking payments software to over 1,300 clients across the U.K., Switzerland, Germany, France and North America. Over 110 million drivers have downloaded its app to simplify parking and vehicle payments.
PayByPhone will operate as a stand-alone independent business under Lightyear’s ownership. The acquisition will drive continued product innovation to help the company better serve the needs of its growing customer base.
“This is an exceptionally exciting opportunity for PayByPhone. Lightyear has extensive experience in fintech and payments, which will provide continuity post the transition from Corpay, aligning perfectly with our long-term strategy to evolve beyond parking into wider mobility payments. We look forward to the next chapter under new ownership and continuing to make investments that are right for our clients not only today but also for the future,” Jonny Combe, president and CEO of PayByPhone, said in a statement.
Michal Petrzela, a partner at Lightyear, added, “Jonny and the PayByPhone management team have built a strong business in a market that has significant greenfield opportunities. We believe the company is poised for continued growth given its strong established user base, high customer retention rates and product-led technology. We are excited to leverage our extensive expertise in software and payments to accelerate PayByPhone’s growth, both organically and inorganically, while continuing to deliver value to its clients.”
