CardFlight's New Partnership Fuels Growth
CardFlight, a leading software as a service (SaaS) payment technology company, has announced its successful acquisition of a significant minority investment from WestView Capital Partners. This strategic partnership is expected to significantly boost CardFlight's ability to enhance its offerings and expand its reach within the small business sector.
Expanding Payment Solutions for Small Businesses
With the new investment, CardFlight aims to further develop its suite of payment solutions tailored specifically for small businesses throughout the nation. The funding will allow the company to enhance its existing software products and broaden its network of merchant partners.
Founded in 2013, CardFlight has established itself as a pivotal player in simplifying the payment acceptance landscape for small business owners. Through a user-friendly onboarding process and a comprehensive feature set, CardFlight’s platform supports over 125,000 small business owners, enabling them to seamlessly accept credit cards and other forms of payment.
The Role of SwipeSimple in Growth
SwipeSimple, CardFlight's flagship product, serves as a vital tool for small businesses, facilitating over $12 billion in payment volume annually. This powerful software not only provides efficient payment processing but also features essential business management functions, empowering entrepreneurs to thrive in their local markets.
According to Derek Webster, the Founder and CEO of CardFlight, this strategic investment will position the company strongly as it navigates the shifts occurring within the payment technology industry. He expressed excitement about the partnership, emphasizing the alignment of WestView’s strategic vision with CardFlight's core values.
Partnerships that Drive Innovation
Kevin Twomey, a Principal at WestView Capital Partners, noted that the investment aligns with a significant trend impacting how small and medium-sized businesses perceive and handle payments. He highlighted CardFlight's innovative approach to meeting the specific needs of today's business owners, indicating that the future looks bright with this partnership.
Twomey will join the CardFlight Board of Directors, reflecting WestView's commitment to not only provide capital but also strategic guidance and collaboration in fostering the company's growth.
About CardFlight
CardFlight has emerged as a trusted partner for over 125,000 small businesses across the country. Renowned for its straightforward and effective payments solutions, the company focuses on enhancing operational efficiency for its customers. SwipeSimple is sold through a diversified network comprising financial institutions, merchants, and independent sales organizations, showcasing CardFlight's strong market presence.
About WestView Capital Partners
WestView Capital Partners, based in Boston, specializes in growth equity for middle-market companies. With over $2.7 billion under management, the firm targets investments in various sectors, promoting growth through strategic partnerships with management teams.
Frequently Asked Questions
What is the purpose of CardFlight's new investment?
The investment is aimed at further enhancing CardFlight's payment solutions and expanding its services offered to small businesses across the nation.
Who is WestView Capital Partners?
WestView Capital Partners is a growth equity firm based in Boston, focusing on middle-market companies and providing both capital and strategic guidance.
How does SwipeSimple benefit small businesses?
SwipeSimple allows small businesses to efficiently process payments and manage their operations, with a significant annual payment volume indicating its effectiveness.
What changes can customers expect from CardFlight after this investment?
Customers can expect enhancements to the payment solutions offered, including improved software features and expanded service options tailored to their needs.
Is CardFlight expanding its market presence?
Yes, the investment will facilitate CardFlight's efforts to expand its network of small business and merchant partners, broadening its market reach.