Two years after top KC startup’s sale, Zego (and its new owner) acquired for nearly $1B
June 18, 2021 | Startland News Staff
The company that acquired Kansas City-based Zego in 2019 — and liked the real estate tech startup’s brand so much it changed its own identity to match — has itself now been purchased by a global “powerhouse” in an all-cash transaction valued at $925 million.
Zego delivers its full value stack through a cloud native SaaS platform to enable seamless property management and best-in-class resident engagement and commerce experiences.
The company has significant scale with over 7,000 property management customers representing more than 11 million residential units in the United States utilizing its comprehensive real estate technology platform.
Through its integrated payments offering, Zego facilitates approximately $30 billion in payments annually in a market with a volume opportunity that exceeds $1 trillion.
Zego — formerly PayLease — announced the acquisition by Global Payments, a leading worldwide provider of payment technology and software solutions, June 10. (The 18-year-old San Diego company had rebranded to “Zego” about nine months after absorbing the exiting Kansas City startup, which was originally built in Kansas City by co-founders Adam Blake and Clay Coffman as a solution in the smart apartment space.)
“Today marks a monumental moment in Zego (Powered by PayLease) history as we embark on our next exciting chapter,” Zego representatives said in a press release after this month’s acquisition. “This transaction extends Global Payments’ leadership in software into the real estate vertical.”
Global Payments is headquartered in Georgia with nearly 24,000 employees worldwide.
The deal is not expected to disrupt services for current customers or residents, the company said, noting it pushes Zego closer to international expansion.
As a co-founder, Blake shifted into an advisor role with PayLease until December 2019 before taking time off to spend with his family and serve a handful of early stage companies in advisory roles.
Coffman served as director of product management for Zego (Powered by PayLease) until July 2020, moving into an advisor position with the company until December 2020.
“I think we did a good job showing outside investors there are venture-backable companies in KC,” Blake told Startland News in 2019. “We had a handful that invested in Kansas City for the first time.”
An inaugural Techstars Kansas City graduate founded as “CasaiQ,” the Kansas City-built Zego’s early investors ran the spectrum of the local and national investment scene: The KCRise Fund, Techstars Ventures, Zoloz CEO Toby Rush, and ShotTracker co-founder Davyeon Ross.
Featured Business
2021 Startups to Watch
stats here
Related Posts on Startland News
GEWKC submissions open: Organizers seek community-sourced ideas for fall event series
One of Kansas City’s largest interactive educational experiences for entrepreneurs is inviting community members to drive the conversation when Global Entrepreneurship Week returns in November. Festivities are set for Nov. 17-22 at Union Station in Kansas City. The GEWKC event series’ programming is crowd-sourced through submissions from community members and organized by KCSourceLink. Selected concepts…
Federal arts funding cuts hit AMERI’KANA festival in KC’s northeast; organizer says the show will go on
Creating space for healing and connection in Kansas City’s historic northeast is too critical to abandon, said Enrique Chi, whose nonprofit — and a popular music and arts festival — faces federal funding cuts targeting heritage-related initiatives that don’t align with the priorities of President Trump. The National Endowment for the Arts (NEA) recently rescinded $85,000…
Call for Heartists: Sprawling sculpture project needs storytellers willing to open portal to KC’s soul
When the Parade of Hearts returns in April 2026, as many as 150 pieces of Kansas City’s story will be scattered across the metro — offering a summer-long scavenger hunt of the region’s identity for hometown fans and World Cup revelers alike. “The Parade of Hearts is more than public art — it’s a catalyst…
KCMO sets aside $1.4M to get small biz, artists in the front door before World Cup arrives
A city-led and funded effort to fill vacant storefronts in downtown Kansas City ahead of the 2026 FIFA World Cup is still taking shape, officials said this week, noting that crafting the infrastructure for the program alongside private property owners is expected to extend through the summer. “The World Cup is just the beginning of…