FrontStream Raises $16 Million

FrontStream Payments Inc., a Brentwood, Tenn.-based provider of payment solutions to SMEs, has raised $16 million in first-round funding. Participants include SSM Partners, Noro-Moseley Partners, Wakefield Group, Southpoint Capital and companymanagement.

PRESS RELEASE

FrontStream Payments, Inc. a leading provider of payment solutions to small and medium-sized businesses, today announced the completion of $16 million in equity funding.

“In the US, there are about 5 million mid-sized and smaller merchants facing increasingly complex payments options,” said Emmet Seibels, CEO and Co-founder, of FrontStream Payments, “Our vision is to acquire companies that help to simplify the market for our customers by focusing on the unique needs of each merchant, and by delivering and maintaining an integrated offering of consistent, high quality payment solutions.”

FrontStream Payments products and services include turnkey solutions that enable merchants to increase revenues through the acceptance of credit and debit cards. The company also helps drive customer relationship management and loyalty efforts by allowing them to offer their own “branded” loyalty, gift and prepaid cards.

Marc Scheipe, President and Co-founder of FrontStream Payments said that the majority of the funds will be used to expand the footprint of FrontStream Payments. “While we'll be growing through strategic acquisitions, we'll also invest heavily in organic growth initiatives to quickly take advantage of the tremendous market opportunity.”

“As investors, Frontstream Payments has the key elements we seek,” said Casey West, partner at SSM Partners, the lead investor for the funding. “The founding management team is very experienced to take advantage of the high-growth market opportunity and they have the right blend of urgency and fiscal responsibility.”

Investors in this initial round included SSM Partners, Noro-Moseley Partners, the Wakefield Group, Southpoint Capital, and management.

About FrontStream Payments

FrontStream Payments, based in Brentwood, TN, is a leading provider of payments products and services to small and medium-sized businesses and independent credit card sales organizations. To learn more about the company please visit www.frontstreampayments.com.