Matthew Hyman

Co-Founder and Co-CEO SpotOn

Last Reviewed: September 18, 2026

Executive Summary

Matthew Hyman is Co-Founder and Co-Chief Executive Officer of SpotOn, the point-of-sale and payments platform built for restaurants and small businesses. He runs it jointly with his twin brother Zach Hyman under a genuine co-CEO structure, alongside third co-founder Doron Friedman as Chief Innovation Officer. The brothers have worked as a pair for their whole careers: they founded CardPayment Solutions together in 2000 and sold it to iPayment in 2003 when they were 27, then built Central Payment from 2005 and exited their final stake in 2018 at an 840 million dollar valuation. SpotOn, founded in 2017, was capitalised initially with 20 million dollars of their own money — an unusual starting position, and one that shaped a company built by payments operators moving deliberately into software rather than by software founders discovering payments.

Career Highlights

• Co-founded SpotOn in 2017 with twin brother Zach Hyman and fintech entrepreneur Doron Friedman; serves as Co-Chief Executive Officer alongside Zach, with Friedman as Chief Innovation Officer.
• Committed 20 million dollars of the founders’ own capital as SpotOn’s initial investment.
• Raised a 40 million dollar round for SpotOn in June 2019, led by Franklin Templeton and Dragoneer Investment Group.
• Co-founded CardPayment Solutions in 2000, during the technology recession, and exited to iPayment in 2003 at the age of 27.
• Built Central Payment with his brother from 2005, selling to Total System Services and exiting their final stake in 2018 at an 840 million dollar valuation.
• Focuses at SpotOn on combining the company’s go-to-market, product and merchant-services capabilities to drive organic growth among small and medium businesses.

Professional Journey

Hyman’s career in payments began in 2000, when he and his twin brother Zach founded CardPayment Solutions into the teeth of the technology recession. Merchant acquiring was then an unglamorous, relationship-driven business built on feet on the street, and the brothers built one. They sold to iPayment in 2003, aged 27 — an early exit that gave them capital and, more importantly, a clear view of how the industry’s economics worked.

From 2005 they built Central Payment, where Hyman served as Co-Managing Partner. Central Payment grew into a substantial merchant services business and was sold to Total System Services; the brothers exited their remaining stake in 2018, with the business valued at 840 million dollars. Across those thirteen years they learned the limits of a pure payments-processing model: the merchant relationship is won on rate and service, and it is perpetually vulnerable to whoever quotes lower.

SpotOn, founded in 2017, was the response. Rather than compete on processing rates, it bundles payments with the software a restaurant or small retailer actually runs on — point of sale, online ordering, reservations, loyalty, marketing, labour management — so that the payments relationship sits underneath a product the merchant depends on daily. The brothers put in the first 20 million dollars themselves and brought in Doron Friedman, a Chicago fintech entrepreneur, as the third co-founder and Chief Innovation Officer.

Outside capital followed once the model was proven, with a 40 million dollar round in June 2019 led by Franklin Templeton and Dragoneer Investment Group, and further rounds since. SpotOn has become one of the more significant independent restaurant technology platforms in the United States, competing directly with Toast and Square. Hyman’s stated focus is on joining the company’s go-to-market reach, its product and its merchant services into a single engine for small-business growth — which is, in essence, the lesson of the previous eighteen years applied at scale.

Education

No education details for Matthew Hyman were found in any source reviewed, including SpotOn’s own pages, funding announcements and trade interviews. The field is deliberately left empty rather than filled from an unverified aggregator.