FTRANS, a leading provider of accounts receivable and credit management solutions, today announced it has secured an additional round of venture funding, totaling $4 million. This new capital was provided by current investors Greenhill SAVP, New Atlantic Ventures and Total Technology Ventures. The funding will support company operations and sales and marketing expansion and growth.
“Small businesses and banks are looking for innovative solutions to improve small business lending and support growth. FTRANS has a proven solution that addresses that need from both perspectives,” said Brian Hirsch, Managing Director at Greenhill SAVP. “FTRANS has built a solid foundation and significant momentum in the market since our first investment, and we anticipate continued market leadership and rapid expansion.”
Founded in 2004, FTRANS liberates business owners from the headaches and hassle of managing accounts receivable and increases their access to capital by working with local financial institutions. By managing the entire receivables and collections process, businesses can focus on operations and growth. FTRANS’ comprehensive web-based AR solution provides complete visibility at every step – and improves efficiency along the way, reducing costs and eliminating administrative overhead.
Additionally, FTRANS benefits financial institutions that are interested in diversifying their lending portfolios. By using FTRANS, banks can transform their clients’ accounts receivable into lower risk, highly monitored and lendable collateral and increase business and commercial lending, which can strengthen balance sheets and increase bank profits. Under the FTRANS bank program, financial institutions have the ability to increase profitability by expanding commercial lending and increase business and commercial deposits, interest income and fee income.
“Our team is excited by the continued positive response from both small businesses and banks to our complete accounts receivable and credit management solution,” said Dan Drechsel, CEO of FTRANS. “We feel we are in a unique position to help foster small business growth, supporting both traditional and non-traditional financing practices, and feel validated by the continued support of our investors and others in the investment community.”
FTRANS Corp., located in Atlanta, GA, combines outsourced accounts receivable management with affordable access to funding from local financial institutions– providing small and medium businesses the cash they need to grow and take advantage of market opportunities. Our team of business funding experts offers unmatched service and support to help business owners better manage their cash flow and focus more on growth. Breaking down the barriers to affordable funding, FTRANS is a true partner for business success: it’s nothing short of a funding revolution.
About Greenhill SAVP
With over $100 million under management, Greenhill SAVP makes early stage venture investments in technology-enabled services and business information services companies. Prior fund manager investments include Medidata Solutions, LivePerson, OpenWave, YellowJacket (acquired by the Intercontinental Exchange), UGO Networks (acquired by Hearst Corporation), and KnowledgeStorm (acquired by TechTarget). Greenhill SAVP leverages its deep domain expertise, a proven investment track-record, and a global corporate network to create significant portfolio value. For more information about Greenhill SAVP, please visit www.gsavp.com.
About New Atlantic Ventures
New Atlantic Ventures is a leading early-stage venture capital firm targeting investments in technology companies in emerging mass markets. Through its offices in Cambridge, MA and Reston, VA, NAV targets companies in the Eastern United States, while also pursuing select opportunities nationwide. The NAV portfolio includes investments in Pontiflex, Stitcher, GateRocket, Mpowerplayer, TVU Networks, Koofers, Secure Command and FashionPlaytes. For more information, visit www.navfund.com.
About Total Technology Ventures
Total Technology Ventures (TTV) is an Atlanta-based investment firm focused on providing capital to early-to-late stage privately held companies in the financial services industry and IT driven businesses with products that serve the financial services industry. TTV’s team approach to investing and management avails portfolio companies access to some of the most prominent and experienced business leaders in the technology and financial services industries. For more information, visit www.ttvatlanta.com.