FrontStream Payments Announces New C‐Round Investment Funding
FrontStream Payments, Inc., a national provider of payment solutions, formally announced today a new $10M C?round of private equity funding recently raised through multiple funding partners. This latest installment raises the capital investment total for the company to $36M since its founding.
“The original capital funded critical acquisitions, staffing and product alignments necessary to position FrontStream in the top 2% of its industry,” states Nina Vellayan, FrontStream Payments’ Chief Executive Officer and President, “This newly raised funding, along with additional capital available, will go toward fueling our aggressive organic growth plans, new product delivery and strategic acquisitions.”
After acquiring and merging three established business portfolios together under one corporate brand in 2010, FrontStream’s new leadership strategically aligned the sales, marketing, product and technology teams to complete critical steps that would differentiate the company’s product package, leverage key software partnerships and establish a sustainable economy of scale.
In 2011, these labors have produced and launched an innovative, proprietary ACH product and infused contemporary mobile and web capture channels into the company’s offerings. Vellayan, and her cabinet of industry veterans, also completed API integrations with several leading providers of business and point of sale software platforms. Sales resources were aligned to build upon this strength, strategically targeting new vertical industries best suited for the company to serve and grow with. Through these targeted efforts, FrontStream has gained stride, becoming a leading integration provider within the education, non?profit, and automotive sectors, as well as the legacy industries of hospitality, energy, retail and others.
As the new funding is invested in FrontStream’s operational and sales expansion, it will power a vision and solid go forth strategy that will build on the core foundation already in place. FrontStream leadership anticipates this investment, coupled with the timely launch of first?to?market product innovations, to generate significant interest from both B2B and B2C communities in 2012. They expect a quick rise in awareness, revenues and market capture that will comparatively parallel company growth to other payment industry frontrunners.
“We are just getting ready to launch a strategic product package that will put FrontStream into the same league as groundbreaking and fast growing payment pioneers like PayPal, Secure Vault Payments and Square.” Vellayan continues, “We’ve reinvented the traditional, one?to?one payment model, creating a one?to?many payment dimension that hasn’t existed before. Then, we added in other business?critical components to produce an enterprise level business solution.”
This December, FrontStream will release version one of its revolutionary, all?in?one fasttransactbusiness platform. The product enables a client to pick and choose payment features, capture data and personalize a unique consumer interface. The proprietary technology can be quickly installed, is easily configurable, shares data with other business management and media applications, and has exclusive back?end scalability to quickly on?board any size client or partner.
The Fasttransact platform consolidates all of FrontStream’s “anytime, anywhere, any way” merchant products and capabilities into a single, robust, modular package. It can be tailored to utilize any combination of features, will expand with the client and it integrates seamlessly into any business environment. The signature consumer portal instantly gives a merchant the ability to take online payments, manage revolving and recurring accounts, and store data safely for later usage.
Our technical intelligence, secure payment gateway and integrated solutions have already propelled FrontStream forward into several new industries and increased our presence in others,” added Vellayan, “It is a fruitful path and time for our company, and we intend to further maximize our potential through new product innovations, partnership and software pairings, and smart acquisitions.”