YapStone Hires CBS Interactive Exec Mary Hentges as CFO
YapStone, which processes about $5 billion in payments a year for apartment- and vacation-rental owners, has hired Mary Hentges as CFO.
Previously, she was CFO at CBS Interactive for two years; prior to that, she was CFO at PayPal. Hentges will start at the Walnut Creek, Calif.-based company on Oct. 1.
In the past year, YapStone’s revenues have jumped by 50 percent, and profits have more than doubled. Sites that it operates include rentpayment.com, utility-payment.com and vacationrentpayment.com. The company’s growth was fueled by a $50 million investment by Accel Partners. The company has plans to expand into new verticals and internationally.
During her seven years at PayPal, Hentges helped grow the company’s revenue to $2.6 billion.
Here’s the full release:
YAPSTONE HIRES PAYPAL VETERAN MARY HENTGES AS CHIEF FINANCIAL OFFICER
Accel-backed YapStone hires CFO from CBS Interactive and PayPal to lead its finance team and drive its rapid global growth in online and mobile payments
WALNUT CREEK, CA (September 21, 2012) — YapStone, a leading global provider of Web and mobile payment solutions and processing for targeted vertical markets, has hired high-profile Chief Financial Officer, Mary Hentges. In her new role, Hentges will lead the company’s global financial operations and work closely with the management team on the creation and execution of its business strategy, operating plan and corporate development activities.
Hentges has been CFO at CBS Interactive for two years, and prior to that held the position of CFO at PayPal. In her 7-year tenure as CFO at PayPal, she grew revenue ten-fold to $2.6 billion. Hentges will join the YapStone team beginning October 1.
“I have been fortunate to work with some of the leading interactive media and payment companies. With Yapstone’s lead in vertically-focused payment solutions, I look forward to augmenting the company’s success in this new role,” said Hentges.
Recently, Yapstone rolled out new Web and mobile bill pay products in several new vertical markets and the company also has plans to expand globally. In the past year alone, YapStone’s revenue is up 50%, profits have gone up over 100%, and Accel Partners led a $50 million minority investment in the company.
“I’m confident that Mary will have a profound impact on the future of YapStone as we are entering the most exciting time in the company’s history,” said Tom Villante, Chairman and Co-founder of Yapstone. “Mary will be more than our senior-most finance executive – she has the ability and experience to help YapStone disrupt and innovate payment markets around the world. She’s one of very few who have done it before.”