![]() ![]() ![]() Vancouver based Instant Financial is a financial technology startup that puts employees in control of accessing their earned pay. Co-founders, Kevin Falk and Ryan Volberg, have resigned from the board. Garrard, III, co-founder and Managing Partner of TTV Capital. ![]() Lanier, III of ITC Partners Fund (family office), co-founder & CEO Steve Barha, Janet Bannister of Real Ventures, and Gardiner W. Subscribe today and see what you have been missing! ★board of directors is now comprised of Campbell B. We offer monthly or yearly recurring or one-time trial subscriptions. Instant Financial’s ★Research Note – Subscriber ONLY content: read our research and get insight on this and other deals. The Series A financing brings Instant Financial total funding to $15.4 million. has completed an $11.4 million Series A round of financing led by Atlanta, Georgia based TTV Capital, with participation of exisiting investors, ITC Partners Fund, Real Ventures, and Kinetic Ventures. The venture capital industry, however, says their failure rate isn’t nearly as high - about 40 percent.Instant Financial Inc. A study a few years ago by a Harvard University lecturer found that about three-fourths of venture-backed startups don’t return their investors’ money. Early investors hope to nurture these firms into strong companies and, if lucky, hit big like a Google or Apple.īut the bets are often risky, and like in baseball, there are lot more strikeouts than home runs. Venture capitalist bet on unproven or adolescent companies with promising ideas. One of the knocks on Georgia has been the relative lack of investor funding for young companies known as venture capital. Metro Atlanta has long been considered a dynamic secondary hub for technology creation - not in the league of Silicon Valley, but solidly among the ranks of secondary technology hubs such as Raleigh, N.C., and Austin, Texas. each year are processed by companies with major Georgia operations, according to the American Transaction Processors Coalition. About 70 percent of the debit, credit and gift card transactions in the U.S. The state is working to craft university coursework to help mold the next generation of the “fintech” workforce to help develop new technologies and services as payments move to mobile devices. It also happens to complement other key Georgia industries, such as cybersecurity, telecommunications and health care information technology. In recent years, the payments industry has moved from relative afterthoughts to an industry at the forefront of state and local business recruiting and retention efforts. That’s not to mention the potential of virtual currencies such as bitcoin. How consumers pay today - by and large with credit and debit cards - is likely to change in the years ahead as smartphones become more sophisticated and ingrained in society, and consumers do more of their buying online. Trillions of dollars flow across payment systems managed by Georgia companies every year, and the American Transaction Processors Coalition estimates the industry employs more than 40,000 in the state. The investment in TTV Capital, which focuses on financial technology businesses, is a symbol of Georgia's focus on the growing "fintech" industry. And the program said in a year-end report posted Monday that it is in "early discussions" with another private equity fund and is tracking about four others for more investments. Invest Georgia's board last year tapped LCG Associates to manage the $10 million account. Lately, though, the program has showed new signs of life. ![]()
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