In conjunction with the funding, Chris Winship, partner at FTV Capital, is joining the company’s board of directors.
Led by Dan Geraty, CEO, Clearent provides an end-to-end payment processing platform for merchant sales professionals, independent sales organizations (ISOs), independent software vendors (ISVs) and sales partners.
Last year, the company launched a payment gateway and the Clearent Developer Center to enable software developers to integrate payments into their applications. In addition, it plans to introduce several products in 2015 for sales partners and sales teams to win more business and increase their profits.
Clearent processes $8 billion in annual transaction volume for 23,000 businesses nationwide.
FTV invests $25 mln in Clearent
Clearent, one of the nation’s fastest growing payment processing companies, announced it has raised $25 million from FTV Capital. As part of this investment, Chris Winship, partner at FTV Capital, will join the company’s board of directors. Clearent has become the end-to-end payment processing platform of choice for merchant sales professionals, independent sales organizations (ISOs), independent software vendors (ISVs) and sales partners due to its proprietary state-of-the-art technology that delivers unique flexibility and efficiencies to merchants and sales partners.
“We welcome the years of financial technology and payments expertise that Chris Winship and the FTV Capital team brings,” said Dan Geraty, CEO of Clearent. “With the support of FTV, I’m even more confident Clearent will continue its track record of significant growth through increased service features, expanded technology enhancements, and industry-leading support for our customers.”
“The pace of innovation in the payments market is a leading indicator of how our economy continues to be transformed by new technologies,” said Chris Winship, partner at FTV Capital. “Over the past 10 years, Clearent has continually innovated to grow their business organically and posted solid, triple-digit growth. We are excited to work alongside a management team who has built a first-rate reputation as the payment processor helping businesses profit and grow.”
FTV Capital has an established track record in payments and the broader financial services and enterprise technology markets. The growth equity firm started backing payments and transaction processing companies in the late 1990s and has since supported the growth of such notable firms as Verus (acquired by Sage Group), MedSynergies (acquired by Optum), Card Connect and Credorax.
Last year, Clearent launched a payment gateway and the Clearent Developer Center to enable software developers to easily integrate payments into their applications. In addition, the company plans to introduce several products in 2015 to help its sales partners and sales teams win more business and increase their profits. Clearent’s payment processing platform offers flexible merchant pricing options, true next day funding, transparent residuals and best-in-class online reporting.
Clearent is a complete payment processor that leverages its proprietary payments platform to make doing business easier and more profitable for its sales partners. Clearent’s commitment to honesty and transparency has made it one of the most trusted companies in the payments industry. Clearent is one of the fastest-growing credit card processing companies, processing $8 billion in annual transaction volume for 23,000 businesses nationwide. To learn more, visit www.clearent.com or call 866.205.4721.
About FTV Capital
FTV Capital is a growth equity investment firm that has raised over $1.8 billion since inception to invest in high-growth companies offering a range of innovative solutions in three sectors: enterprise solutions, financial services, and payments/transaction processing. FTV’s experienced team leverages its domain expertise and proven track record in each of these sectors to help motivated management teams accelerate growth. FTV also provides companies with access to its Global Partner Network, a group of the world’s leading enterprises and executives who have helped FTV portfolio companies for more than a decade. Founded in 1998, FTV Capital has invested in 83 portfolio companies and has offices in San Francisco and New York. For more information, please visit www.ftvcapital.com.