Financial Services Company Closes Series B Round
WILMINGTON, Del., Feb. 21 /PRNewswire/ -- Swift Financial
(http://www.swiftfinancial.com), the direct financial services company
dedicated to small business banking, today announced the close of its Series B
Preferred Stock financing round of $20 million, bringing the total investment
in the company to $26.5 million. Investors included Sutter Hill Ventures
(http://www.shv.com), Village Ventures (http://www.villageventures.com),
Permit Capital and a subsidiary of Marshall & Ilsley Corporation.
"We are energized by the confidence shown in Swift Financial by these
investors," says company founder and CEO Ed Harycki. "Their support will
enable us to offer small businesses exceptional service and a chance to grow
in a challenging credit environment."
About Sutter Hill Ventures
Sutter Hill Ventures, in Palo Alto, Calif., is a venture capital firm that
finances technology-based start-up and early-stage companies pioneering
products or services in growth markets, especially those in information
technology and health care. Founded in 1964, it is one of Silicon Valley's
original venture capital firms. Companies backed by Sutter Hill include:
Netapp, Legato, Quantum, Storage Tek, Tellabs, Alteon, Linear Technology,
NVIDIA, BroadVision, Vitria, Molecular Devices, Cor Therapeutics, Amylin
Pharmaceuticals, Omnicell and eLoyalty.
About Village Ventures
Village Ventures is a seed and early stage venture capital firm focusing
on three primary sectors: consumer media and retail, health care and financial
services. The Williamstown, Mass., firm's strategy is to partner with leading
entrepreneurs creating innovative products and solving complicated problems in
those industries.
About Permit Capital
Permit Capital, LLC, is an independent investment firm founded in 2002 in
West Conshohocken, PA. The firm invests domestically and internationally in
private and public securities.
About Marshall & Ilsley Corporation
Marshall & Ilsley Corporation (NYSE: MI) is a diversified financial
services corporation headquartered in Milwaukee, Wis., with $59.8 billion in
assets. Founded in 1847, M&I Marshall & Ilsley Bank is the largest Wisconsin-
based bank, with 193 offices throughout the state. In addition, M&I has 49
locations throughout Arizona; 32 offices in central Indiana; 31 offices along
Florida's west coast and in central Florida; 14 offices in Kansas City and
nearby communities; 22 offices in metropolitan Minneapolis/St. Paul, and one
in Duluth, Minn.; and one office in Las Vegas, Nev. M&I's Southwest Bank
subsidiary has 17 offices in the greater St. Louis area. M&I also provides
trust and investment management, equipment leasing, mortgage banking, asset-
based lending, financial planning, investments, and insurance services from
offices throughout the country and on the Internet (www.mibank.com or
www.micorp.com). M&I's customer-based approach, internal growth, and strategic
acquisitions have made M&I a nationally recognized leader in the financial
services industry.
About Swift Financial Corporation
Swift Financial is a direct financial services company dedicated to small-
business banking. Headquartered in Wilmington, Del., Swift Financial launched
in 2007 and is led by a veteran team of top bank executives who want to
provide small businesses with simple banking products without excessive fees
and penalties - while providing a level of service not typically associated
with small-business banking. Swift Financial is able to make these products
available through its relationship with M&I Bank FSB ensuring that customer
deposits are FDIC insured. For more information, visit
www.swiftfinancial.com.
SOURCE Swift Financial
Laura Rossi for Swift Financial, +1-302-374-7085,
laura.rossi@swiftfinancial.com
