Texas-based StoneEagle provides a platform that distributes, administers and processes virtual and plastic cards, checks and ACH payments.
The company’s platform for outsourcing payments delivers a replacement in handling inefficient payment processes such as paper checks.
By using StoneEagle’s payment solutions, payers and providers can lower manual processes, automate payment reconciliation, mitigate fraud losses and limit delays in funding or settlement without the need of account enrollment.
The company aims to accelerate its growth by expanding existing customer relationships, further investing in product, extending sales and marketing activities, and improving its technology and processing capabilities.
StoneEagle will be lead by new CEO Andy Roberts and existing management will continue with the business.
Roberts said: "The visionary StoneEagle management team has built a highly flexible, scalable payments platform that is revolutionizing claims processing."
FTV Capital partner Chris Winship said: "StoneEagle has developed a growing, highly satisfied customer base because of their proven ability to streamline and manage complex transactions.
"Andy’s highly relevant industry expertise, strong network relationships, and proven leadership skills will help propel StoneEagle in its expansion."
FTV Capital has raised more than $1.8bn since its inception to invest in enterprise technology and services, financial services, and payments/transaction processing sectors.
Image: StoneEagle Services raised $76m from FTV Capital. Photo: courtesy of podpad/FreeDigitalPhotos.net.
