Clearent Raises $25 Million from FTV Capital

 

May 01, 2015

Clearent, one of the nation’s fastest growing payment processing companies, announced it has raised $25 million from FTV Capital. As part of this investment, Chris Winship, partner at FTV Capital, will join the company’s board of directors. Clearent has become the end-to-end payment processing platform of choice for merchant sales professionals, independent sales organizations (ISOs), independent software vendors (ISVs) and sales partners due to its proprietary state-of-the-art technology that delivers unique flexibility and efficiencies to merchants and sales partners.

“We welcome the years of financial technology and payments expertise that Chris Winship and the FTV Capital team bring,” said Dan Geraty, CEO of Clearent. “With the support of FTV, I’m even more confident Clearent will continue its track record of significant growth through increased service features, expanded technology enhancements, and industry-leading support for our customers.”

“The pace of innovation in the payments market is a leading indicator of how our economy continues to be transformed by new technologies,” said Chris Winship, partner at FTV Capital. “Over the past 10 years, Clearent has continually innovated to grow their business organically and posted solid, triple-digit growth. We are excited to work alongside a management team who has built a first-rate reputation as the payment processor helping businesses profit and grow.”

FTV Capital has an established track record in payments and the broader financial services and enterprise technology markets. The growth equity firm started backing payments and transaction processing companies in the late 1990s and has since supported the growth of such notable firms as Verus (acquired by Sage Group), MedSynergies (acquired by Optum), Card Connect and Credorax.

Last year, Clearent launched a payment gateway and the Clearent Developer Center to enable software developers to easily integrate payments into their applications. In addition, the company plans to introduce several products in 2015 to help its sales partners and sales teams win more business and increase their profits. Clearent’s payment processing platform offers flexible merchant pricing options, true next day funding, transparent residuals and best-in-class online reporting.

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