This press release was originally shared on August 16, 2017. Learn more about our second consecutive win on the Inc 500 list here.
Chicago Payments Provider Lands on Inc 500 List for Second Consecutive Year, Adding to Year of Many Milestones
Payline is pleased to announce that we have been named to the annual Inc 500 list of the nation’s fastest growing privately-held companies for a second consecutive year. Inc. Magazine has ranked Payline at the #363 spot on its 36th annual list, with a three-year sales growth of 1,215%.
“We are honored to be recognized for a second year in a row,” said Jeff Shea, Payline CEO and Co-founder. “This is validation in the strength and determination of our team, and I couldn’t be more proud of their accomplishments.”
Payline has seen tremendous growth since their first time on the list in 2016. In February of this year, Payline raised $5 million in growth capital through partnerships with Recurring Capital Partners and other investors, using the funds to drive growth, including the introduction of its new payments API, Payline I/O, designed to offer software platforms a payments API with enterprise-level features and support.
Another critical milestone for Payline in 2017 included the acquisition of AcceptOn, Inc. and the addition of its founders, Jonathan Cordeau and David Clausen, to the Payline team. More recently in May, Payline was honored at this year’s Electronic Transactions Association (ETA) TRANSACT Conference with the award for “Best Payment Facilitator Integration”.
Most notably among their many accomplishments this year, Payline also reached the significant milestone of $2 billion in overall processing volume and is set to double that figure in the year ahead.
“Payline continues to accelerate growth by focusing on providing payment solutions for end-merchants along with a growing number of software partners,” said Carlton van Putten, Senior Vice President of Revenue. “As payments become a ubiquitous part of our digital lives, we are in a strong position to serve the processing needs of merchants, marketplaces and software services regardless of how they want to take payments.”
This year’s winners set the bar high. To make the Inc 500 list, a company had to have grown a minimum of ten-fold over the past three years, according to Inc. Media President and Editor In Chief, Eric Schurenberg. During a stretch when the economy grew just 6.7%, that result is one that most businesses could only dream to reach.
As a member of the Inc 500 list, Payline shares a pedigree with such companies as Intuit, Zappos, Microsoft, GoPro, and Oracle – just to name a few alumni that have gone on to be household names.
“We are once again very excited about the Inc 500 recognition,” added Shea. “We are confident in what the future holds for Payline, our partners, and our customers as we continue to cement our place as a leader in the payments space.”
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