Charlotte-based fintech launches Kingsmen Software Products with SaaS offerings already in position.
Kingsmen Software, a software development fintech closed a $2.5M funding round with Cypress Growth Capital to grow their lineup of SaaS products. The round was achieved with advisory from Spinta Capital.
The products include established offerings focused on Fortune 1000 customers across multiple industries. Kingsmen Software Products will focus on the sales, marketing and engineering of the products to reach new customers and new markets with innovative and cutting edge experiences.
“We were impressed with Kingsmen’s deep domain knowledge in financial services and their highly differentiated software products,” said Cypress Growth Capital’s Ed Mello. “But we were most impressed with the quality, experience and camaraderie of the team. We’re proud to have Kingsmen Software as our first investment in Charlotte.”
Kingsmen Software has been developing custom enterprise-level software for five years, working with more than half of the nation’s top 10 banks. In 2017, the North Carolina Technology Association name Kingsmen one of its Top Ten Startups to watch and the Charlotte Business Journal included Kingsmen on its Top 25 Technology Firms, Best Places to Work and Fast 50 lists.
“Kingsmen Software will continue to build financial services applications with national and regional banks. Software engineering is at our heart and will drive and inform the way we improve our products,” said Managing Partner Kevin Carney, who will lead the SDaaS & Services business with a newly developed Leadership Team.
Micah Minarik, Co-Founder and Managing Partner will lead the Products side of the business. “We have matured and refined our product portfolio and are now ready to go to market,” asserts Minarik. Greg Hart, Co-Founder & CFO adds “Cypress is helping us to advance sales and GTM strategies for the products we’ve developed, this infusion of capital will serve as the foundation to build out our sales and marketing organization. They really understand our business, their team is going to be a great partner!”
Charlotte Business Journal Article 2/1/18
About Cypress Growth Capital
Cypress Growth Capital is a Dallas-based investment firm specializing in royalty-based growth capital investments to businesses in the software, technology-enabled services, and information technology sectors. An alternative to equity and traditional debt instruments, royalty-based growth capital offers entrepreneurs access to significant capital while preserving equity and control. The investment team has extensive entrepreneurial and operating experience. With more than $100,000,000 of capital under management, Cypress is the largest and most active royalty-based growth capital investor in the U.S.
About Spinta Capital
Spinta helps mid- and later-stage innovative growth companies raise debt capital for business expansion. With a goal of optimizing capital cost and flexibility, Spinta’s marketplace approach enables management teams to procure well-structured growth loans with speed and intelligence. Spinta Capital has $1.7B in debt financing experience for growth companies across a variety of tech-focused sectors.