Houston based bill payment processor Noventis has raised $4m in debt financing from SVB Financial Group. Noventis develops innovative solutions to longstanding challenges around delivering bill payments.
Speaking about the financing, Weston Rice, Vice President at SVB, stated: “We’re pleased to provide this debt financing to Noventis. The company’s innovative solutions provide both speed-to-market and the functional agility to maximize its rapidly expanding network of billers.” Steve Taylor, CEO at Noventis, also noted: “With operating results that are exceeding expectations and the low cost of capital, this is the perfect time for Noventis to obtain financing. Our shift to a processor-centric model has been paying off, and accelerating investments into the platform and network is integral to our plans for continued growth. Silicon Valley Bank is the ideal strategic partner for companies in the Fintech space and I’m excited about our relationship going forward.”