After closing a $5.5M funding round with Atlanta-based VC firm, payment processing provider increases its national reach by expanding into one of the country’s top emerging financial tech cities
ORLANDO, Fla. Oct. 24, 2017 – Fattmerchant, a payment technology provider saving businesses thousands with its subscription-based model, announces its expansion to Atlanta, a city known for its booming financial tech scene. Along with this move, the company is also announcing $5.5M in funding from Fulcrum Equity Partners, based in Atlanta, to continue its expansion plans and further develop its services. Fattmerchant is adding a location in Atlanta to connect with its partners in Georgia, continue to reach new clients and bring its proprietary technology to the flourishing market.
With 70 percent of the $4.4 trillion in payments processed in North America going through Atlanta, this expansion allows Fattmerchant to grow in the heart of payment processing. Fattmerchant provides businesses with innovative omni-channel technology and subscription-based payment processing, including no markups or unnecessary fees. The company is currently processing over $1 billion in transactional volume and has thousands of clients across the nation. Along with its client base, Fattmerchant is planning to double its culture-driven team in Atlanta.
“Expanding to Atlanta will help us grow our disruptive model and support thousands more business owners with better payment processing,” said Suneera Madhani, CEO and founder of Fattmerchant. “Community is important to us, and introducing Atlanta to our omni-channel integrated payment technology and one-of-a-kind team is a crucial step in not only strengthening our national presence, but expanding in the nation’s most prominent payment community.”
“As the demand for streamlined Fintech payment services continues to increase, Fattmerchant has been modernizing omni-channel integrated payments to merchants for the past few years,” said Jim Douglass of Fulcrum Equity Partners. “Our goal is to work with innovators that can not only build great technology to change up an important industry, but manage the logistics to do it well. We look forward to seeing Fattmerchant continue to grow on a national level.”
Fattmerchant is looking to add more than 50 jobs outside of its Orlando headquarters in 2018, with the majority in its Atlanta hub. For more information about Fattmerchant and the company’s services, visit www.fattmerchant.com.
Fattmerchant is a payment technology provider offering direct-cost pricing, robust analytics, and omni-channel integrated payments solutions to businesses. Suneera Madhani and Sal Rehmetullah, CEO and COO of Fattmerchant respectively, founded the company in 2014 after working in the credit card processing industry for years, wanting to sell a technology that customers would be excited about. Fattmerchant offers plans for every business and brings the human touch back to payment processing.