Prepaid Technologies (Birmingham, AL) is proud to announce our recent raise of growth financing led by Edison Partners (Princeton, NJ).
Enabling the broadest spectrum of payment solutions provided by a single firm today, Prepaid Technologies looks to continue their legacy of solving for our B2B & B2C clients most pressing payments challenges in the payroll, reward, disbursement, and purchasing categories.
Prepaid Technologies has seen over 15,000% straight-line growth in its load value. Revenue has increased 9x over five years since the company raised its only round of outside capital, $5 million in 2016 through Ballast Point Ventures. This most recent raise of $96 million, led by Edison Partners (Princeton, NJ), is earmarked to amplify their prior growth and to add to their already deep capabilities and talent bench strength.
“We purpose-built our products and platforms to create a turnkey way for companies to configure payments solutions across their enterprise however they operate. Clients access payments through our dashboard technology or integrate solutions into their workflows through our robust API suite. We’re laser-focused on productization and configurations that will help to transition more companies to card-based and digital solutions. With this investment, and with Edison Partners’ expertise and experience, we can focus on investing in our current solutions, accelerating our industry footprint and expanding our suite of offerings to ensure our customers and partners achieve their goals,” CEO Stephen Faust shares
To our over 1,700 customers and 450 active partners (including banks, payroll processors, payment providers, and emergent fintechs including digital banking platforms, enterprise technology companies, marketing, health and wellness payments processors, and merchant services providers) we would like to express our sincerest gratitude. Your votes of confidence in our ability to serve you today and in the future are appreciated. We look forward to earning and re-earning your business every day.
“As our organization enters it’s next phase, we look to stay close to those core qualities that have spawned prior successes . . . specifically leveraging our strong partner relationships, our ability deliver innovative solutions at the speed of market need, and our prioritization on effectiveness first”, shares Tommy McCulley, Chairman.