TA, Luminate Capital invest in Financial Information Technologies

TA Associates and Luminate Capital Partners invested in Financial Information Technologies, which provides invoicing, electronic payment and analytics services to the beverage alcohol industry. Luminate made a prior investment in the company in 2016. Financial terms were not disclosed.

Press Release

Financial Information Technologies, LLC (“Fintech”), the leading provider of invoicing, electronic payment and analytics solutions to the beverage alcohol industry, announced today that it has received a strategic investment from TA Associates and Luminate Capital Partners, building on the initial 2016 investment by Luminate. Financial terms of the transaction were not disclosed.

Fintech is partnering with TA and Luminate to enhance its leadership role in the beverage alcohol market through new product innovations and strategic acquisitions. Fintech created the first electronic payment solution for regulated beverage alcohol and has expanded its products to offer proprietary analytics tools to help its customers improve their business operations in myriad ways. Today, Fintech’s products are used daily by more than 120,000 retail locations and over 3,500 beverage alcohol distributors throughout the United States.

“TA Associates is very experienced in electronic payment and financial technology markets, and we are delighted to welcome them as a new investor,” said Tad Phelps, President of Fintech. “The firm has a strong track record of partnering with management to accelerate organic growth and complete strategic acquisitions. We look forward to working closely with TA and Luminate to accomplish our goals, while enhancing the value that we bring to retailers and distributors.”

“Fintech is the market leader enabling more efficient commercial transactions and improving business decisions in the complex and regulated beverage alcohol market,” said M. Roy Burns, a Managing Director at TA Associates who will join the Fintech Board of Directors. “With its unique place in the market, we believe that there is a significant opportunity to build on Fintech’s strengths to meet the demands and expectations of its retail and distributor customers. We are thrilled to partner with Tad and the entire Fintech organization, alongside Luminate.”

“Fintech has excellent customer retention and satisfaction, and we are excited about the new products that the team is developing,” said Clara M. Jackson, a Senior Vice President at TA Associates who will also join the Fintech Board of Directors. “The beverage alcohol market has many unmet needs that we believe Fintech is well-positioned to address.”

“Fintech has continued to extend its leadership position in the two years since we initially invested in the company,” said Hollie Haynes, Founder and Managing Partner at Luminate Capital Partners who will remain on the Fintech Board of Directors. “We expect Fintech to be able to leverage the expertise that TA has developed through its long history of backing high growth market leaders.”

“Fintech is a tremendous company and we are excited to extend our relationship and continue to build on this powerful franchise,” said Scott Kingsfield, Operating Partner at Luminate Capital Partners who will serve as Chairman of the Fintech Board of Directors. “We welcome TA to the Fintech Board and have high expectations for what we can achieve together.”

Goodwin Procter provided legal counsel to TA Associates, Kirkland & Ellis provided legal counsel to Luminate Capital Partners, and Holland & Knight provided legal counsel to Fintech.

About Fintech

Fintech, the leading solutions provider for beverage alcohol management, and regulatory information resource, offers a OneSource® solution with a suite of profit-building products and services for alcohol distributors and retailers. With decades of industry experience, Fintech empowers users with information to increase margins and maximize operating efficiencies within their beverage alcohol category. By anticipating client needs, nurturing relationships and growing partnerships within the industry, Fintech continues to deliver cutting-edge, strategic solutions that range from purchase order, reconciliation and data reporting, to pricing and promotion communication, compliance adherence and regulatory resource connectivity. Fintech manages over 510,000 industry relationships and services more than 3,500 distributors nationwide. For more information on Fintech, visit www.fintech.net.

About TA Associates

Now in its 50th year, TA Associates is one of the largest and most experienced global growth private equity firms. Focused on five target industries – technology, healthcare, financial services, consumer and business services – TA invests in profitable, growing companies with opportunities for sustained growth, and has invested in nearly 500 companies around the world. Investing as either a majority or minority investor, TA employs a long-term approach, utilizing its strategic resources to help management teams build lasting value in growth companies. TA has raised $24 billion in capital since its founding in 1968 and is committing to new investments at the pace of $1.5 to $2 billion per year. TA’s more than 85 investment professionals are based in Boston, Menlo Park, London, Mumbai and Hong Kong. More information about TA Associates can be found at www.ta.com.

About Luminate Capital Partners

Luminate Capital Partners is a private equity firm focused on making investments in growing enterprise software companies. Luminate partners with management teams to provide flexible capital and operational support to drive strategy, accelerated growth and build long-term value. With headquarters in San Francisco, Luminate invests in portfolio companies that serve customers globally. Representative investments to date include AMTdirect, Comply365, Conexiom, Fintech, Oversight Systems, PDI and StarCompliance. For more information, visit www.luminatecapital.com.