BRENTWOOD, TN–FrontStream Payments, Inc. a leading provider of payment solutions to small and medium-sized businesses has raised $16 million from Atlanta-based Noro-Moseley Partners, Charlotte, NC-based the Wakefield Group, Fort Lauderdale’s Southpoint Capital, and Memphis-based SSM Partners.

Marc Scheipe, President and co-founder of FrontStream Payments said that the majority of the funds will be used to expand the company’s footprint. “While we’ll be growing through strategic acquisitions, we’ll also invest heavily in organic growth initiatives to quickly take advantage of the tremendous market opportunity.”
“In the US, there are about 5 million mid-sized and smaller merchants facing increasingly complex payments options,” said Emmet Seibels, CEO and Co-founder, of FrontStream Payments, “Our vision is to acquire companies that help to simplify the market for our customers by focusing on the unique needs of each merchant, and by delivering and maintaining an integrated offering of consistent, high quality payment solutions.”

FrontStream Payments products and services include turnkey solutions that enable merchants to increase revenues through the acceptance of credit and debit cards. The company also helps drive customer relationship management and loyalty efforts by allowing them to offer their own “branded” loyalty, gift and prepaid cards.

“As investors, Frontstream Payments has the key elements we seek,” said Casey West, partner at SSM Partners, the lead investor for the funding. “The founding management team is very experienced to take advantage of the high-growth market opportunity and they have the right blend of urgency and fiscal responsibility.”

On the Web: www.frontstreampayments.com

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