Houston, March 15, 2017 — Noventis, Inc., (Noventis), a leading Fintech innovator in bill payment processing, today announced the completion of $4M of debt financing with SVB Financial Group (NASDAQ: SIVB). Noventis plans to use the new investment to further its rapidly growing processor business.
The deal comes on the heels of two consecutive years of record EBITDA and earnings growth for Noventis. Part of the financing will be invested into the main drivers of the company’s recent growth: its proprietary payment processing platform, and its rapidly growing network of over 100,000 electronic endpoints (billers, suppliers, vendors).
Noventis has become a leading bill payments provider serving more than 5,000 originators (financial institutions, payment processors and aggregators, retailers, and software providers). Dedicated to eliminating paper, accelerating posting time and enhancing security, Noventis is bringing payment modernization to companies previously unable to participate in the e-payments revolution.
“We’re pleased to provide this debt financing to Noventis,” said Weston Rice, Vice President at Silicon Valley Bank. “The company’s innovative solutions provide both speed-to-market and the functional agility to maximize its rapidly expanding network of billers.”
As the bank of the world’s most innovative companies and their investors, SVB Financial Group has a reputation for helping businesses advance their goals and achieve success in fast-growing markets.
“With operating results that are exceeding expectations and the low cost of capital, this is the perfect time for Noventis to obtain financing. Our shift to a processor-centric model has been paying off, and accelerating investments into the platform and network is integral to our plans for continued growth,” said Steve Taylor Chief Executive Officer at Noventis. “Silicon Valley Bank is the ideal strategic partner for companies in the Fintech space and I’m excited about our relationship going forward.”
Noventis develops innovative solutions to challenges around the delivery of bill and invoice payments. Its state-of-the-art payment processing platform delivers payments to an ever-growing network of billers and suppliers. Leveraging the company’s patented technology, Noventis is improving speed and efficiency by eliminating paper checks and automating other functions with straight through processing (STP). For more information, visit www.noventispayments.com, or follow us on LinkedIn (https://www.linkedin.com/company/noventis-inc./.) and Twitter (https://twitter.com/Noventis_Inc) .
ABOUT SILICON VALLEY BANK
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