Home News Gro Solutions Chosen As First Investment In TTV Capital’s New Fund

Gro Solutions Chosen As First Investment In TTV Capital’s New Fund

by Holly Beilin

Atlanta-based FinTech fund TTV Capital has chosen Gro Solutions, a Georgia banking platform provider, as the first investment in its most recent, and largest, fund to date. TTV has committed $4.25 million to the FinTech software provider, which provides solutions for small to mid-sized financial institutions like community banks and credit union — the  financial institutions that often don’t have the in-house IT know-how to develop digital tools themselves.

Gro’s digital tools allow smaller financial institutions to onboard clients using online and mobile options. An individual can quickly verify their identity using documents like a driver’s license or public database information. This helps these smaller banks attract a younger, digital-expectant customer base who might be deterred by old-school methods such as — hold your breath — having to visit the actual branch. The entire process from start to end is designed to take about four minutes.

The round also included investments from BIP CapitalC&B Capital, and BLH Venture Partners, all Georgia-based firms. Gro, which has seen a more than 500% increase in customers over the last year and was recently named this year’s Technology Association of Georgia FinTech ADVANCE Award recipient, will use the funds to ramp up R&D in product development even more, and grow the team to help scale increased demand.

“This investment supercharges our ability to radically improve the customer experience at financial institutions and help them grow,” David Eads, CEO of Gro Solutions, said in a press release.

They also plan to move their office from Johns Creek to Midtown, a center of the thriving Atlanta FinTech industry.

The investment is only a small portion of the $93 million in TTV’s fund, which counted Invest Georgia, the state-supported investment program, as a participant.

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