Local investors have acquired more than a 40 percent stake in Overland Park-based StoreFinancial.
The company is best known for creating gift cards unique to a shopping mall, for use at any of its stores and only at those stores. It handles the payment processing that makes the cards possible and provides other services for retailers.
Among its customers are the Country Club Plaza and Zona Rosa shopping areas in Kansas City, though roughly half its business is in Canada, said Eric Mettemeyer, who becameStoreFinancial’s chief executive officer
as part of the transaction.
Jeffrey Brown, who was chief executive, remains chairman of StoreFinancial.
Mettemeyer came from Leawood-based Euronet Worldwide Inc., where he had been managing director of its epay business in Asia and the Americas. Matt Waldie, who had been a senior vice president in epay at Euronet, also joined StoreFinancial as its president and chief operating officer.
The investors include Dan Henry, a co-founder of Euronet who is chief executive officer ofNetSpend, which provides reloadable debit cards to traditionally underbanked consumers; Jim Jerome, former executive vice president of NetSpend; Mark O’Connell, president of Multi Service
, an Overland Park company that provides payments services for transportation and other industries; and Larry Maddox, a Kansas City area private equity investor.
Mariner Holdings, a global financial services firm in Leawood led by Marty Bicknell, and OpenAir Equity Partners
, a private equity fund led by former Sprint president Ron LeMay, also are part of the investment group.
Mettemeyer said the sellers are among the angel investors and StoreFinancial’s founders. They sold some of their shares but retained an ownership stake, Mettemeyer said. The private transaction did not raise funds for the company.