22 October 2017

Financial Transaction Services secures $50m growth equity commitment

16 September 2010  |  2051 views  |  0 Source: Financial Transaction Services

Financial Transaction Services LLC ("FTS" ), a full service provider of electronic transaction processing services, today announced that it had secured a $50 million growth equity commitment from FTV Capital, a multi-stage private equity firm that invests in high-growth companies, and has a successful investment track record in payments and transaction processing companies.

FTV Capital is the first institutional investor for FTS.

FTS offers a comprehensive suite of transaction processing capabilities for financial institutions, merchants, independent sales organizations, and agents, including credit, debit, check services, gift card programs, EBT, and merchant cash advance. The FTS Total Client Care Teams possess in-depth knowledge of many specialized categories ranging from retail, restaurant and hotel, to convenience store, petroleum, and e-commerce businesses.

FTS is one of the fastest growing transaction processors in the industry, with volume growth of 40% in 2009. This financing will enable FTS to continue its rapid expansion through increased sales efforts targeted at the small and medium business market, especially as electronic payments continue to experience strong growth. Additionally, the company plans to continue to pursue attractive consolidation opportunities in this highly fragmented market.

"We are very enthusiastic about partnering with such an accomplished, well-respected management team in a space where we also have extensive experience," said Richard Garman, FTV Capital managing partner. "Brian, Jeff, and the FTS team have a history of building successful payments operations. With FTS, they have created a top notch customer service model, serving a wide variety of clients with a feature-rich set of services in a seamless and cost-effective manner."

"FTV Capital is the logical partner for FTS because of its proven expertise in payments and transaction processing," said Brian P. Shanahan, FTS chairman and chief executive officer.

Jeff Shanahan, FTS president noted, "FTV has successfully demonstrated their value-add in this category with previous investments, and we welcome the collaboration."

Richard Garman, FTV Capital managing partner, and Chris Winship, FTV Capital partner, have joined the FTS board of directors.

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