Wellington Financial Provides US$7.5 Million Financing to Mobile Banking Platform Company
SANTA MONICA, California and Toronto, Feb. 22, 2012 /PRNewswire/ - Wellington Financial LP, a privately-held specialty finance firm, announced today that it recently closed a US$7.5 million growth debt financing for a California-based provider of mobile banking and payment solutions. The company supports many of the largest global financial institutions, including many of North America's top banks. The company's existing investor base includes several venture capital firms based in Silicon Valley. Cooley LLP provided legal advice on this transaction.
"We are delighted to add this mobile banking software provider to our expanding California portfolio of high growth companies," said Eric Speer, Vice President of Wellington Financial LP. "With the additional Growth Capital, the Company will continue to build market share and enhance its world-class mobile banking platform supporting large financial institutions."
Since 2004, Wellington Financial LP has led or participated in more than $400 million in transactions, making it one of the most active funds of its kind in North America.
About Wellington Financial LP
Wellington Financial LP is a privately-held specialty finance firm providing term, venture and amortizing loans up to $30 million. Wellington Financial LP is currently managing a $450 million investment program via Wellington Financial Fund III, with offices in Toronto, Canada and Santa Monica, California. Wellington Financial LP is managed by a partnership controlled by fund management and Clairvest Group Inc. (CVG:TSX), who jointly have contributed a large financial stake to Fund III. LPs include several of Canada's largest institutional investors, crown corporations, financial institutions and pension funds. Please visit the fund website at www.wellingtonfund.com, or the Wellington Financial team blog at www.wellingtonfund.com/blog.
SOURCE Wellington Financial LP