Advantage Capital Texas Invests in Houston-Based Commerciant(R); Round of Funding Closes With $2.5 Million to Expand Marketing, Sales and Operations.HOUSTON Houston, city (1990 pop. 1,630,553), seat of Harris co., SE Tex., a deepwater port on the Houston Ship Channel; inc. 1837. Economy The fourth largest city in the nation and the largest in the entire South and Southwest, Houston is a port of entry; -- Commerciant, LP, a leader in wireless, handheld handheld: see personal digital assistant. payment processing solutions, has completed its latest round of financing with Austin-based Advantage Capital Texas investing $500,000. Advantage Capital joins Houston-based Aegis Texas Venture Fund, LP (Aegis TVF TVF Target Vessel Failure (cardiology) TVF Time Variant Filter TVF Thief River Falls, MN, USA - Thief River Falls Municipal (Airport Code) TVF Tactile Vocal Fremitus TVF Turkiye Voleybol Federasyonu ) and Austin-based Accent Texas Fund I, LP in providing a total of $2.5 million in new capital for the company. Commerciant will use the funds to expand marketing, sales and operations to meet growing demand for wireless payment processing solutions (see www.commerciant.com). "This new funding enables Commerciant to move forward with growth plans, in particular to execute a strong sales and marketing strategy that will deliver our product to our customers in numerous market segments," said Tim Davis Tim Davis may refer to:
"Commerciant has a strong product, an experienced management team, and exciting potential in a growing market," said Timothy Cockshutt, a managing director at Advantage. "Funding a promising, early stage technology-based business such as Commerciant fits our investment strategy as part of the state's Certified See certification. Capital Companies program." Through its patented check processing technology, Commerciant will be the first company to enable both credit card and check processing from the same wireless handheld device. ISOs and agents will be able to create new revenue streams using a Commerciant solution that targets previously unserved and under-penetrated market segments. About Advantage Capital Texas Advantage Capital (www.advantagecap.com) is a private equity firm focused on investing in promising companies in connection with federal, state and local economic development efforts. With offices and partners in Austin, New Orleans New Orleans (ôr`lēənz –lənz, ôrlēnz`), city (2006 pop. 187,525), coextensive with Orleans parish, SE La., between the Mississippi River and Lake Pontchartrain, 107 mi (172 km) by water from the river mouth; founded , St. Louis and other cities, Advantage has raised more than $700 million in institutional venture capital since 1992 and invested in companies located in geographic areas underserved by traditional venture capital. About Commerciant(R), LP Commerciant, LP, is a market leader in the wireless handheld payment processing industry. Commerciant provides authorization The right or permission to use a system resource; the process of granting access. See access control. , settlement, wireless access, and its low cost, hand held MobileScape(R) terminal capable of performing remote credit card processing under a single contract. Powered by POSware(R), the MobileScape terminal delivers highly customizable mobile business process services. www.commerciant.com |
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