Long-term themes driving activity in the financial services sector include:

  • Consolidation, market inefficiencies, changing regulations and the ever-expanding demand for e-commerce are driving opportunities in the payments industry.
  • The explosion of mobile computing is motivating demand for simple, intuitive payments solutions that bridge multiple interfaces (PC, smartphone and tablet) seamlessly with back-end functions.
  • Globalization of commerce is stimulating continued innovation and development of new, more efficient payment methods capable of cross-border transactions.
  • Healthcare payment systems are highly complex and paper-based, offering tremendous opportunity for innovation.

Featured Case Study

Read how Fleet One scaled to successful exit.

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235%

AGGREGATE REVENUE GROWTH

from investment to exit

2014

MEDSYNERGIES ACQUIRED BY OPTUM (UNITEDHEALTHCARE)

largest FTV exit to date

CardConnect
  • Investment Date: 2010
  • Status: NASDAQ: CCN
  • Headquarters: Philadelphia, PA
  • Website: cardconnect.com
  • FTV Contacts: Richard Garman, Chris Winship, Kyle Griswold

CardConnect

Merchant acquirer that offers merchants payment processing solutions to accept credit cards, debit cards, gift cards, and checks at the point-of-sale.

Investment Theme

Fragmented merchant acquiring market; opportunity to differentiate, consolidate and scale.

67K+
total merchants
$22B
2016 processing volume
65K+
business using daily
CashStar
  • Investment Date: 2011
  • Status: Private
  • Headquarters: Portland, ME
  • Website: cashstar.com
  • FTV Contacts: Chris Winship, Kyle Griswold, Robert Anderson

CashStar

Provider of prepaid commerce and digital gifting solutions for retailers and restaurants.

Investment Theme

Rapid growth in global e Commerce.

300+
brands fuel consumer acquisition & retention
2017
DealCrunch Editor's Retail Choice Award winner
Clearent
  • Investment Date: 2015
  • Status: Private
  • Headquarters: Clayton, MO
  • Website: clearent.com
  • FTV Contacts: Chris Winship, Robert Anderson

Clearent

Credit card payment processor offering flexible merchant pricing, next day funding and online reporting.

Investment Theme

Fragmented merchant acquiring market; opportunity to differentiate, consolidate and scale.

100%
track record for paying residuals on time
2012-2016
Inc. 5000 list of fastest growing companies
Company.com
  • Investment Date: 2010
  • Status: Private
  • Headquarters: Atlanta, GA
  • Website: company.com
  • FTV Contacts: Richard Garman

Company.com

Offers a B2B social network that provides business owners and professionals with advice and services to run their business.

Investment Theme

Underserved SMB market with financial services and payment solutions.

5th
Inc. 5000 Fastest Growing Companies 2016
Credorax
  • Investment Date: 2013
  • Status: Private
  • Headquarters: Southborough, MA
  • Website: credorax.com
  • FTV Contacts: Chris Winship, Robert Anderson

Credorax

End-to-end global eCommerce payments platform offering transaction processing and acquiring bank services.

Investment Theme

Rapid growth of global eCommerce.

83%
approval rating in North American and Asian markets
125
countries
VPay
  • Investment Date: 2016
  • Status: Private
  • Headquarters: Richardson, TX
  • Website: vpayusa.com
  • FTV Contacts: Chris Winship, Richard Garman, Robert Anderson

VPay

Turnkey B2B payments platform that distributes, administers and processes virtual and plastic cards, checks and ACH payments via their end-to-end issuing and processing capabilities

Investment Theme

B2B payments landscape continues to be dominated by paper and manual processes; massive commercial payments and claims processing market needs to leverage technology to reduce manual processes, automate payment reconciliation, mitigate fraud losses and limit delays in funding or settlement without any account enrollment.

$10B+
payments processed
100K
auto repair facilities have been VPAID™
650K
medical providers have been VPAID™
WePay
  • Investment Date: 2015
  • Status: Private
  • Headquarters: Palo Alto, CA
  • Website: wepay.com
  • FTV Contacts: Chris Winship, Robert Anderson

WePay

Online payment service provider focusing on platform business such as crowdfunding sites, marketplaces and small business software.

Investment Theme

Rapid growth of global eCommerce.

1k+
Companies processing transactions
2016
Inc. 500 list of Fastest Growing Private US Companies
World First
  • Investment Date: 2013
  • Status: Private
  • Headquarters: London, UK
  • Website: worldfirst.com
  • FTV Contacts: Brad Bernstein, Kyle Griswold

World First

International payment platform offering FX and hedging solutions to SMBs, marketplaces, banks, asset/wealth managers and individuals globally.

Investment Theme

Rapid growth in cross border commerce.

23K
new customers in 2017
48
active states
BlueGill Technologies
  • Investment Date: 1999
  • Status: Acquired by CheckFree in 2000
  • Headquarters: Ann Arbor, MI
  • Website: bluegill.co
  • FTV Contacts: Chris Winship

BlueGill Technologies

Provides solutions for converting legacy data into Internet-deliverable formats for electronic presentment of bills, statements and other customer applications.

Investment Theme

Digitization and consumerization of financial services.

Fleet One
  • Investment Date: 2008
  • Status: Acquired by Wright Express in 2012
  • Headquarters: Nashville, TN
  • Website: fleetone.com
  • FTV Contacts: Richard Garman, Chris Winship, Kyle Griswold

Fleet One

Provides fuel cards and fleet management information services to trucking, commercial and government vehicle fleets.

Investment Theme

Differentiated payment offering leveraging technology.

$56M
annual revenue at exit
210,000
active cards at exit
View Case Study
MedSynergies
  • Investment Date: 2004
  • Status: Acquired by Optum/UnitedHealthcare in 2014
  • Headquarters: Irving, TX
  • Website: medsynergies.com
  • FTV Contacts: Richard Garman, Chris Winship

MedSynergies

Develops outsourced billing, claims administration and payment processing services to healthcare providers, such as physician groups, hospitals and corporate healthcare providers.

Investment Theme

Payment industry opportunities given significant and growing market inefficiencies driven by evolving health care landscape.

9,300
care providers served at exit
Verus Financial Management
  • Investment Date: 2002
  • Status: Acquired by The Sage Group PLC in 2006
  • Headquarters: Nashville, TN
  • FTV Contacts: Richard Garman, Chris Winship

Verus Financial Management

Provides merchants with payment processing services from third party payment processors, including credit card authorization and payment, electronic funds transfer, electronic funds conversion and Internet gateway services.

Investment Theme

Fragmented merchant acquiring market; opportunity to differentiate, consolidate and scale.

Vindicia
  • Investment Date: 2010
  • Status: Acquired by Amdocs in 2016
  • Headquarters: Belmont, CA
  • Website: vindicia.com
  • FTV Contacts: Chris Winship

Vindicia

Provides on-demand billing and fraud management services that manage subscriptions and one-time payments for online content, media, gaming, and SaaS companies.

Investment Theme

Rapid growth of global eCommerce.

241M
customer accounts
$21.8B
total processed revenue
Xign
  • Investment Date: 2001
  • Status: Acquired by JPMorgan Chase in 2007
  • Headquarters: Pleasanton, CA

Xign

Develops solutions for the financial supply chain. Its first product is a business-to-business payment and settlement system that links the accounts payable and accounts receivable processes of buyer and supplier organizations via the Internet.

Investment Theme

Payment industry opportunities given significant and growing market inefficiencies – B2B payments.

40,000
suppliers in global network at exit
$100B
in transactions processed at exit

Current

  • CardConnect
  • CashStar
  • Clearent
  • Company.com
  • Credorax
  • VPay
  • WePay
  • World First

Select Realized

  • BlueGill Technologies
  • Fleet One
  • MedSynergies
  • Verus Financial Management
  • Vindicia
  • Xign