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Transactis Closes Series C Financing Round with MacAndrews & Forbes Holdings Subsidiary

November 13, 2012

  • PRESS

Investment Follows Recent e-Payment & Billing Alliance between Transactis and MacAndrews & Forbes Subsidiary, Harland Financial Solutions


NEW YORK, NY- November 13, 2012 – Transactis, Inc., a leading provider of electronic billing and payment solutions, has closed an $8.2 million Series C financing round led by a subsidiary of MacAndrews & Forbes Holdings Inc., Harland Financial Solutions. This investment follows the recent announcement that Harland Financial Solutions entered into an alliance with Transactis to offer Transactis’ BillerIQ solution as a further enhancement to Harland Financial Solutions’ suite of electronic payment offerings.


“This investment helps Transactis continue our rapid growth as we serve the vast small and middle-markets through our bank and non-bank partners,” comments Joe Proto, CEO & Chairman of Transactis. “MacAndrews & Forbes has expertise throughout its history in the financial services industry and through its portfolio companies, Harland Clarke and Harland Financial Solutions, which are trusted partners to financial institutions. This expertise will prove an important resource to Transactis as we continue to capitalize on strategic opportunities with financial institutions of all sizes.”


“We are pleased to welcome MacAndrews & Forbes with their remarkable track record as an investor in, and as fellow Board members of, Transactis,” said Larry Bettino Managing Partner of StarVest. “This new capital will allow Transactis to make the additional investments necessary to further accelerate the Company’s already strong revenue growth.”


“This is not just an important financing event for Transactis, but a critical strategic relationship leveraging both Harland Clarke’s and Harland Financial Solutions’ deep relationships and expertise with financial institutions that will greatly accelerate Transactis’ growth,” said Marc Michel, a Managing Partner of Metamorphic Ventures and Transactis Board member.


The proceeds from this financing will allow Transactis to enhance product features and industry-specific functionality, invest in sales and marketing support, and add new channels for growth.



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About Transactis

Transactis delivers a robust electronic bill and invoice presentment and payment (EBPP and EIPP) solution to replace paper bills and payments with smart electronic transactions. BillerIQ is a feature-rich, configurable white-label solution enabling businesses of all sizes and across all industries to securely deliver electronic bills, invoices and documents and accept payments online, by phone or mobile device. Transactis is HIPAA compliant, SSAE 16 compliant, PCI Level 1 certified, and SOC 2 certified. Transactis investors include StarVest Partners, Metamorphic Ventures, MacAndrews & Forbes Holdings, and ff Venture Capital. For more information visit transactis.com


About MacAndrews & Forbes Holdings

MacAndrews & Forbes Holdings Inc. is a private diversified holding company with interests in consumer products, gaming, entertainment, financial services, defense, medical devices, biotechnology and other industries. Among the companies in which it holds interests are AM General, Revlon, Faneuil, GlobalScholar, Harland Clarke, Harland Financial Solutions, SIGA Technologies, Transtech Pharma Inc., and Scientific Games Corporation. http://www.macandrewsandforbes.com


About Harland Financial Solutions

Harland Financial Solutions, Inc. supplies software and services to thousands of financial institutions of all sizes, offering its solutions in both an in-house and service bureau environment. It is a leader in core systems, business intelligence, branch automation, payment processing, enterprise content management, lending solutions, risk management, compliance, financial accounting, mortgage solutions, and self-service solutions. The company is an indirect wholly-owned subsidiary of Harland Clarke Holdings Corp., which also owns Harland Clarke, Scantron and Faneuil. http://www.harlandfinancialsolutions.com


About StarVest Partners

StarVest Partners, a New York City based venture capital firm with $400 million under management, funds technology-enabled business services companies. StarVest was an early investor in the software-as-a service trend: in 2000, it invested as the only venture firm in NetSuite. The firm’s value-added partnership focuses on emerging technology and services sectors including: Cloud-based companies, eCommerce services, Ad Tech and Data Analytics. http://www.starvestpartners.com


About Metamorphic Ventures

Metamorphic Ventures is a New York City based venture capital fund that invests in seed and early stage Transactional Media companies representing the convergence of digital media and commerce both online and offline. Metamorphic’s investments include IndieGoGo, Chango, ThinkNear, Tapad, Sneakpeeq, and Artspace among others. http://metamorphic.vc


For more information, contact Erica Hamroff at ehamroff@transactis.com

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