Veteran Nashville financial technology entrepreneur Joe Maxwell will step out of a full-time role at Ipreo, the company to which he sold Shareholder InSite nine months ago, at the end of this year. After that, he tells Milt Capps at Venture Nashville Connections, he will devote the majority of his time to raising a venture capital fund focused on fintech ventures.
Maxwell's "emerging markets and growth fund" will address full-spectrum fintech opportunities, he said, declining to discuss any other general partners, at this time. The new fund is unlikely to do true Seed-stage or Buyout transactions, though such deals are not forever ruled-out.
Milt Capps has checked in with veteran local payment processing entrepreneur Greg Daily, who is building what was Charge Payment and now is i3 Verticals into a broader financial technologies play. Daily and his team last month acquired RentShare.com, a New York-based mobile payment platform focused on the apartment sector, and has since wrapped up two other deals. There's more to come, Capps writes, including a possible IPO.
While maintaining its presence in Retail, the company's acquisitions and other growth efforts are concentrated on expanding into Education, Government/Public Sector, Healthcare, Utilities and Nonprofit/Fundraising sectors. Daily described those sectors as populated by enterprises that "don't go out of business." The company's current offerings span payments processing, metrics-reporting tools, point-of-sale technologies, gift and loyalty programs, merchant financing and security support.
Reuters' peHUB is reporting that private equity firms are fighting for Stored Value Solutions, the gift card and prepaid card subsidiary of Brentwood-based transaction processor Comdata, in an auction that could bring in more than $600 million. Stored Value Solutions, which is based in Louisville, has annual sales of about $90 million and will not make the move with Comdata into the world of Fleetcor, which last summer said it would pay more than $3 billion for Comdata. Sources have told peHUB that Barclays is managing the auction, which has entered its second round.
Confirmation.com has signed a deal to provide its audit confirmation services to the more than 230 members of the British Bankers' Association. The Brentwood-based company earlier this year acquired a two-year-old peer to move into the United Kingdom.
POSTDATA: WARRANTY DEEDS