What Company Is offering:
FTRANS enables business-to-business (B2B) sellers to receive a loan against accounts receivables (A/R) to shorten cash collections for less than the cost of accepting a credit card payment or operating an internal credit system. Typically, sellers receive their cash in 24-48 hours after submitting an invoice. FTRANS acts as an interchange and delivers a web-based service that integrates and processes transactions between B2B sellers, buyers, and banks.
How Much They Got From VCs:
Greenhill SAVP announced today that it has invested in FTRANS, Corp. ("FTRANS"). Greenhill SAVP led the financing round of $7.5 million, with an investment of $2.5 million, and was joined by existing institutional investors Total Technology Ventures and New Atlantic Ventures (formerly Draper Atlantic). As a result of this financing, Brian Hirsch, Managing Director of Greenhill SAVP, will join the FTRANS Board of Directors.
About VCs;
With over $100 million under management, Greenhill SAVP makes early stage venture investments in technology-enabled services and business information services companies. Prior fund manager investments include LivePerson (NASDAQ: LPSN), OpenWave (NASDAQ: OPWV), YellowJacket (acquired by the Intercontinental Exchange, NYSE:ICE), UGO Networks (acquired by Hearst Corporation), and KnowledgeStorm (acquired by TechTarget, NASDAQ: TTGT).
Greenhill SAVP leverages its deep domain expertise, a proven investment track-record, and a global corporate network to create significant portfolio value. For more information about Greenhill SAVP, please visit www.gsavp.com.
More at:www.ftrans.ne
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