Fintech provider DadeSystems has announced additional funding provided by Wells Fargo Strategic Capital as part of its Series D financing round.
DadeSystems specialises in providing integrated receivable solutions for the FinTach sector and with Wells Fargo’s funding, the company will be able to further develop and execute its expansion plans.
Bill Zayas, president and CEO of DadeSystems stated: “Wells Fargo Strategic Capital is one of the leaders in providing capital to growing fintech companies.
“This investment will support the ongoing growth of the company, expand DadeSystems’ suite of technology solutions, and allow us to continue to invest in our technology and improve efficiencies for businesses.”
This new investment will support DadeSystems’ suite of technology solutions, collectively referred to as DadePay, allowing the company to further grow its various systems in the process.
The funding will also enable DadeSystems’ business customers to more efficiently accept and reconcile payments and remittances. DadePay is an Integrated Receivables solution utilised by businesses, including the banks and partners who serve them.
Tom Richardson, Managing Director for Wells Fargo Strategic Capital concluded: “DadeSystems has developed a uniquely simplified process for managing account receivables by leveraging advanced data management and machine learning technologies.
“We are pleased to provide them with this investment and support during an important stage of their lifecycle.”
Wells Fargo Strategic Capital is a subsidiary of Wells Fargo & Company which provides long term capital in the form of equity and/or debt to current and prospective Wholesale customers, commercial partners, as well as approved Small Business Investment Company (SBIC) funds such as DadeSystems.
Wells Fargo Strategic Capital holds over 180 portfolio investments and has approximately 50 team members across the United States.