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Affinity Solutions Raises More than $21 Million

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With its latest round of funding, Affinity Solutions’ total financing tops $40 million.

This latest funding round was led by Massachusetts-based private equity firm, Chestnut Hill Ventures. The firm specializes in the commercial marketing and financial services industries, and provided more than $14 million in equity financing for Affinity Solutions a year ago.

Affinity Solutions says that the $21 million will go towards helping the company bring its marketing platform to market. Affinity Solutions currently has partnerships with more than 4,000 financial institutions, and more than 25,000 brick and mortar retail outlets.
This latest round of funding was a big jump up from the company’s most recent capital-raising effort: $6.75 million raised in February via a combined equity/convertible securities offering.
All told, Affinity Solutions’ fundraising over the past year:
  • $14.5 million in equity financing – June 2012
  • $6.75 million in equity/convertible financing – February 2013
  • $21+ million in funding – June 2013
Headquartered in New York, Affinity Solutions presented its technology at FinovateSpring in San Francisco in 2012. See the company in action here.