Fattmerchant’s story is a testament to their unparalleled ability to fill a gap in their market and provide simplicity and insight in a complicated world of payments.
ATLANTA (PRWEB) December 07, 2020
Fulcrum Equity Partners has announced the successful sale of their investment in Fattmerchant, the award-winning integrated payments provider, to entrepreneurial family office and growth equity firm Greater Sum Ventures (GSV).
The new round of funding will enable Fattmerchant to expand their investment in innovation, and start a new chapter in their growth. CEO Suneera Madhani, President Sal Rehmetullah, and the founding team will continue to lead the company.
“We are grateful to the team at Fulcrum Equity Partners for their guidance as we navigated the early stages of the business,” says Madhani. “Their expertise in FinTech and SaaS proved invaluable in defining our product strategy and evolution into a PayFac. We look forward to our next phase with the experienced team at GSV.”
Commenting on the exit, Fulcrum Partner Philip Lewis states “Fattmerchant’s rapid growth is driven by the leadership’s team devotion to culture, coaching and hiring the right people. We are proud to have been a part of their story and are excited to watch the team continue to build on the strong foundation they have laid.”
Fattmerchant’s explosive growth was sustained with each new innovative product spurring them forward. With solutions such as Omni, they are able to offer businesses a unified commerce experience to manage their operations and facilitate omni-channel payment acceptance. The company’s newly launched Omni Connect offering provides independent software vendors (ISVs) the ability to integrate payments into their product suite and operate as a payment facilitator via a single API, including bank sponsorship, merchant application and enrollment, risk management, settlement, and reporting & analytics.
Jim Douglass, Partner at Fulcrum, maintains that “Fattmerchant’s story is a testament to their unparalleled ability to fill a gap in their market and provide simplicity and insight in a complicated world of payments. We’ll truly miss our partnership with Suneera and Sal but wish them all the best in the next leg of their journey.”
Fattmerchant is an award-winning payment technology leader in FinTech focused on empowering established businesses and software companies to streamline payment acceptance, simplify operations and grow their business. With its all-in-one integrated solution Omni Connect, traditional software companies have access to an entire payments ecosystem at their fingertips. This comprehensive solution equips software companies with the ability to accept payments from within their platforms to help create an overall integrated experience for their users. Omni Connect brings together all of the necessary payment processing tools and services into a single platform, thereby allowing a software company to own and monetize the entire payments experience.
About Fulcrum Equity Partners
Fulcrum Equity Partners is an Atlanta-based growth equity firm that manages over $500 million and provides expansion capital to rapidly growing companies led by strong entrepreneurs and management teams. Fulcrum targets companies within healthcare services, healthcare IT, B2B software, and technology-enabled services. Fulcrum’s initial target investment is $3 million - $15 million to provide financing to meet a wide range of needs, including internal growth initiatives, acquisitions, divestitures, shareholder liquidity and recapitalizations. The partners have over 140 years of relevant experience in Fulcrum’s target markets, including significant operating experience in senior executive positions at companies that grew rapidly and enjoyed successful exits. Additionally, Fulcrum’s limited partners include over 100 current or former business owners/CEOs of leading companies in a wide variety of industries that provide a rich resource for the firm and portfolio companies. Learn more at http://www.fulcrumep.com.
About Greater Sum Ventures
Greater Sum Ventures (GSV) is an entrepreneurial family office that invests its own capital in middle market software and tech-enabled services companies. With entrepreneurial roots and proven operational and investing experience, GSV works with select independent co-investing partners to build platforms of technology companies that revolutionize the industries they serve. Guided by a unique perspective and playbook, GSV adds exceptional value to its growing portfolio, which includes Community Brands, Ministry Brands, Inhabit IQ, Therapy Brands, Transit Technologies, Vehlo, LivTech and Government Brands, among others. The firm was established in 2015 by the founders and leadership team of Ministry Brands, which would become the 2017 Private Equity Deal of the Year. Headquartered in Knoxville, Tennessee, GSV provides access to capital and operational support to midmarket technology firms all over the world. To learn more, visit GreaterSumVentures.com.