Daily News: February 23, 2012

Wellington Inks $7.5 Million to Mobile Banking Platform Company

Wellington Financial announced that it recently closed a US$7.5 million growth debt financing for a California-based provider of mobile banking and payment solutions. The company supports many of the largest global financial institutions, including many of North America’s top banks. The company’s existing investor base includes several venture capital firms based in Silicon Valley. Cooley LLP provided legal advice on this transaction.

“We are delighted to add this mobile banking software provider to our expanding California portfolio of high growth companies,” said Eric Speer, vice president of Wellington Financial LP. “With the additional Growth Capital, the company will continue to build market share and enhance its world-class mobile banking platform supporting large financial institutions.”

Since 2004, Wellington Financial LP has led or participated in more than $400 million in transactions, making it one of the most active funds of its kind in North America.

Wellington Financial LP is a privately held specialty finance firm providing term, venture and amortizing loans up to $30 million.