March 27, 2013
Croft & Bender Serves as Financial Advisor to Q2ebanking in its $20 Million Growth Equity Financing
Croft & Bender, an Atlanta-based investment banking and private equity firm, is pleased to announce the successful completion of a $20 million Series C financing for its client, Q2ebanking. The funding was led by Battery Ventures, a Boston-based venture capital firm, with additional participation from existing investors including Adams Street Partners and C&B Capital.
Headquartered in Austin, Texas, Q2ebanking is a leading provider of highly secure electronic banking solutions for banks and credit unions throughout the U.S. The Company’s ebanking platform provides flexible deployment options for online banking, mobile and tablet banking, voice banking as well as a security application to effectively mitigate fraud risk for community focused financial institutions. By utilizing a single platform approach, Q2 delivers a more streamlined, better managed, fully featured solution designed to take full advantage of the anytime, anywhere aspects of the e-channel delivery model, enabling financial institutions to maximize their value contribution and better serve the needs of their customers.
The company provides its solutions for approximately 400 financial institutions, reaching over 3 million online users. The company has exhibited impressive revenue growth of 51 percent in 2012 and 49 percent in 2011.
Croft & Bender was retained as the exclusive financial advisor and placement agent to Q2ebanking in the capital raise. “We received inbound interest from a number of different parties about participating in our Series C round. Croft & Bender knew what we were looking for in a partner and had the experience to coordinate an efficient process that enabled us to quickly evaluate our alternatives and choose the best partner. We are thrilled with the result and excited to be partnering with Battery Ventures,” said Q2ebanking CEO Matt Flake.
“We are very fortunate to be involved with Q2ebanking. The combination of its best-in-class electronic banking solutions for banks and credit unions, driven management team, and accolades as one of the best places to work shows the company's dedication to its core values and culture that will ensure its continued success,” commented Steve Tye, Managing Director of Croft & Bender.