Georgia-based digital growth solutions for banks and credit union provider, Gro Solutions, announced on Monday it secured $4.25 million during its latest financing round, which was led by Atlanta-based TTV Capital with participation from BIP Capital, C&B Capital, and BLH Venture Partners.
Gro Solution reported it experienced rapid growth over the last year and it increased its customers base by more than 500%. The funds from the financing round will be used to accelerate research and development along with improving security and compliance. Gro Solution also noted it is planning to relocate its corporate headquarters to midtown Atlanta. The company was also a recipient of the Technology Association of Georgia (TAG) Fintech ADVANCE Award.
Sean Banks, partner at TTV Capital, stated:
“TTV Capital is looking forward to working with the Gro team to provide bank customers the kind of checkout experience they are used to from e-Commerce and mobile commerce companies.”
Cres Ferrell, vice president at BIP Capital, also commented:
“As the world continues its trend toward mobile, the traditional brick-and-mortar bank is being disrupted. The early traction of the Gro platform validates that Gro Solutions is well positioned to help traditional banks move to a mobile first world.”
David Eads, CEO of Gro Solutions, added:
“We are relentlessly focused on making the sales process as easy as possible for banks and credit unions. This investment supercharges our ability to radically improve the customer experience at financial institutions and help them grow.”