Accel-KKR has made a strategic growth investment in Banker’s Toolbox Inc. financial terms weren’t announced. Austin-based Banker’s Toolbox provides Bank Secrecy Act anti-money laundering compliance and fraud prevention solutions for the financial industry.
AUSTIN, Texas, July 22, 2015 /PRNewswire/ — Banker’s Toolbox, Inc., the leading provider of Bank Secrecy Act anti-money laundering compliance and fraud prevention solutions for the financial industry, announced today it has received a significant equity investment to support its strategic growth from Accel-KKR, a leading technology-focused private equity firm.
The new partnership enables Banker’s Toolbox to make continued investments in its existing solutions, new product development initiatives and market expansion.
“Banker’s Toolbox was looking for a partner with the resources, expertise and track record of accelerating growth for small software companies like us,” said Daniel Cho, Founder and CEO of Banker’s Toolbox. “We are convinced Accel-KKR will provide the support Banker’s Toolbox needs to break new ground and we are excited to team with them to further drive growth.”
Banker’s Toolbox views Accel-KKR’s investment as an affirmation of the strength of its financial crime compliance and prevention solutions and a reinforcement of the important role that these solutions play in the dynamic financial services market. As payment channels proliferate and financial crime becomes ubiquitous across increasingly diverse channels, Banker’s Toolbox remains strictly focused on delivering innovative software and services to enable financial institutions of all kinds to efficiently and comprehensively manage their regulatory requirements and reduce losses due to fraud.
“Banker’s Toolbox has demonstrated all the characteristics that Accel-KKR looks for: a proven management team, a loyal client base, deep domain expertise and an industry leading technology platform,” said Fred Sturgis, Managing Director at Accel-KKR. “Daniel and his team have had success in driving sustained growth in a highly capital efficient manner. We look forward to bringing our considerable network to bear and working in partnership to facilitate the execution of Banker’s Toolbox’s ambitious growth plan.”
Raymond James Financial, Inc. served as financial advisor to Banker’s Toolbox in connection with this transaction. The terms of the deal were not disclosed.
Accel-KKR is a technology-focused private equity firm with $2.3 billion in assets under management. The firm invests primarily in software and technology-enabled businesses well positioned for topline and bottom-line growth. At the core of Accel-KKR’s investment strategy is a commitment to developing strong partnerships with the management teams of its portfolio companies and a focus on building value through the significant resources available through the Accel-KKR network. Accel-KKR has a particular focus on buyouts and recapitalizations of family-owned or closely-held private companies, going-private transactions and divisional buyouts of larger companies. It invests across a range of structures, functions as minority or majority investors and commits a wide range of capital – from less than $10 million to over $100 million. The firm has offices in Menlo Park and Atlanta. For more information, please visit www.accel-kkr.com.
About Banker’s Toolbox, Inc.
Austin, TX-based Banker’s Toolbox, Inc. helps community financial institutions manage risk and streamline compliance examinations. The company’s product suite consists of proven solutions for money laundering detection and reporting, risk management through fraud prevention, secure wire processing automation, and commercial real estate loan portfolio risk assessment. The Banker’s Toolbox team is a unique combination of seasoned bankers, former regulators, and information technology consultants who specialize in designing, developing, and implementing risk management solutions while providing unparalleled customer service. For more information, visit the company’s website at www.bankerstoolbox.com.
For more information, please visit www.bankerstoolbox.com.