FTV Capital, a US-based venture capital firm backed by some of the country’s largest financial services groups as limited partners and network members, has invested $50m in Financial Transaction Services, a local provider of electronic transaction processing services.
FTV Capital is the first institutional investor for FTS, which grew the number of financial transactions it processed by 40% last year.
Richard Garman, managing partner of FTV Capital, and Chris Winship, one of its partners, have joined FTS’s board.
FTV has 50 corporate members of its global partner network, including AIG, Axa and BoA Merrill Lynch.