Fattmerchant, a payment technology provider saving businesses thousands with its subscription-based model, today announces $5.5 million in additional funding, provided by Atlanta-based Fulcrum Equity Partners, along with a $1 billion transactional milestone.This latest round allows Fattmerchant founders, Sal Rehmetullah and Suneera Madhani, to add locations across the U.S. in addition to their Orlando hub, advance technology to make credit card processing more efficient for merchants, and continue taking on key clientele to further increase Fattmerchant’s transactional volume.
The company will use the funding for continued product and technological developments, marketing, and customer acquisition for a truly holistic growth strategy. These new developments allow Fattmerchant to expand its reach and continue to help businesses of all sizes across the nation improve efficiency and save thousands on credit card processing costs.
In addition to the recent funding, the award-winning merchant services provider also reached $1 billion in transactional volume, meaning it’s helped its subscribing merchants accept that amount in payments since opening its doors in 2014. In its first year, Fattmerchant had $5 million in transactions, and $100 million in 2015.
“Both our funding and newest milestone announcements exemplify Fattmerchant’s mission to improve the payments experience for everyone,” said Suneera Madhani, CEO and founder of Fattmerchant. “Our team is extremely proud of our accomplishments and look forward to continuing to raise the bar of merchant processing success and accountability.”
Fattmerchant is a payment technology provider offering direct-cost pricing, robust analytics, and unmatched customer service. Suneera Madhani, CEO of Fattmerchant, founded the company in 2014 after working in the credit card processing industry for years, wanting to sell a product that customers would be excited about. Fattmerchant offers plans for every business and brings the human touch back to payment processing.