According to a report from the Atlanta Business Chronicle, Finovate alum FTRANS has raised more than $2 million of its expected $2.56 million funding round.
Participating in the round were the company’s long-time investors: Greenhill SAVP, New Atlantic Ventures, and Total Technology Ventures Capital.
At the conclusion of the current round, the company’s funding total will top $13 million.
FTRANS is an innovator in the field of accounts receivable and credit management for small and medium enterprises. The company leverages its partnerships with banks and other financial institutions, as well as its own direct funding capability, to provide lenders with the visibility they need to manage risk.
A few key metrics for FTRANS:
- Founded in 2004 in Atlanta, Georgia
- Serves more than 150 clients with more than 10,000 customers
- Processed more than $600 million in accounts receivable to date
- Launched partnership with Synovus Financial Corporation in 2007.
FTRANS demonstrated its Trade Credit Express technology at the FinovateSpring 2010 show in San Francisco. See the company’s presentation here.