FastSpring, a Santa Barbara, California-based provider of e-commerce payment services for online vendors of desktop software and software-as-a-service (SaaS), received an equity investment from Pylon Capital.
The amount of the transaction was not disclosed. Following the deal, CEO and co-founder Dan Engel will be Senior Vice President of Marketing and will serve on the company’s Board of Directors while Pylon Capital Managing Partners Chris Lueck and Tom Tzakis will join the company’s management team.
Founded in 2005 by Ken White, Ryan Dewell, Jason Foodman, and Engel, FastSpring provides an e-commerce, merchandising and fulfillment solution for online vendors that sell desktop software, SaaS, and downloadable games.
It has over 2,200 clients worldwide, from new start-ups to large enterprises.