Fair Value of Assets and Liabilities (Tables)

12 Months Ended

Dec. 31, 2021

Summary of Carrying Amounts and Estimated Fair Values of Assets and Liabilities Measured at Fair Value

The following table summarizes, by level within the fair value hierarchy, the carrying amounts and estimated fair values of our assets and liabilities measured at fair value on a recurring or nonrecurring basis or disclosed, but not carried, at fair value in the Consolidated Balance Sheets as of the dates presented. There were no transfers into, out of, or between levels within the fair value hierarchy during any of the periods presented. Refer to Note 5, Note 9 and Note 10 for additional information on these assets and liabilities.

	December 31, 2021
	Level 1	Level 2	Level 3	Total
Assets:
Other assets	—	2,499,996	—	2,499,996
Total assets	$                      —	$2,499,996	$                      —	$2,499,996
Liabilities:
Contingent consideration	$                       —	$                       —	$17,046,840	$17,046,840
Borrowings	—	448,484,696	—	448,484,696
Tax receivable agreement	—	—	245,828,419	245,828,419
Total liabilities	$                      —	$448,484,696	$262,875,259	$711,359,955
	December 31, 2020
	Level 1	Level 2	Level 3	Total
Liabilities:
Contingent consideration	$                       —	$                       —	$15,800,000	$15,800,000
Borrowings	—	256,713,396	—	256,713,396
Tax receivable agreement	—	—	229,228,105	229,228,105
Interest rate swap	—	9,312,332	—	9,312,332
Total liabilities	$                      —	$266,025,728	$245,028,105	$511,053,833

Contingent Consideration

Schedule of Contingent Consideration Related to Previous Business Acquisitions

The following table provides a rollforward of the contingent consideration related to previous business acquisitions. Refer to Note 5 for more details.

	Year Ended December 31, 2021	Year Ended December 31, 2020	From July 11, 2019 to December 31, 2019	From January 1, 2019 to July 10, 2019
	(Successor)			(Predecessor)
Balance at beginning of period	$15,800,000	$14,250,000	$                       —	$1,816,988
Measurement period adjustment	—	6,580,549	—	—
Purchases	4,350,000	15,800,000	14,250,000	—
Payments	(8,948,786)	(18,320,549)	—	(1,816,988)
Valuation adjustment	5,845,626	(2,510,000)	—	—
Balance at end of period	$17,046,840	$15,800,000	$14,250,000	$                      —

Tax Receivable Agreement

Schedule of Contingent Consideration Related to Previous Business Acquisitions

The following table provides a rollforward of the TRA related to the Business Combination and subsequent acquisition of Post-Merger Repay Units held by Corsair, pursuant to the Unit Purchase Agreements. See Note 15 for further discussion on the TRA.

	Year Ended December 31, 2021	Year Ended December 31, 2020	From July 11, 2019 to December 31, 2019	From January 1, 2019 to July 10, 2019
	(Successor)			(Predecessor)
Balance at beginning of period	$229,228,105	$67,176,226	$                       —	$                       —
Purchases	2,491,251	149,612,393	67,176,226	—
Payments	—	—	—	—
Accretion expense	5,065,507	2,955,148	—	—
Valuation adjustment	9,043,556	9,484,338	—	—
Balance at end of period	$245,828,419	$229,228,105	$67,176,226	$                      —