CFO Capital is pleased to announce that ePAR, LLC has secured $4.2 million in convertible note financing in February 2016 to support the growth of the company’s ATS Secured platform. The terms of financing and the identities of the investors were not disclosed. This round follows a $3 million private placement completed in July 2015.
Based in Omaha, Nebraska, ePAR developed and markets proprietary software solutions that bring transparency, security, and collaboration to complex transactions. Its wholly owned subsidiary, ATS Secured (www.atssecured.com), provides solutions for residential real estate transactions. The ATS Secured platform ties the data, dollars and documents from a closing into a single consensus ledger upon which all parties to a transaction agree. In addition to reducing fraud, decreasing operating costs, and improving efficiency, the platform can also improve the liquidity and value of mortgage portfolios on the secondary market and provide risk mitigation to lenders via an exclusive indemnification policy through Lloyd’s of London.
Wes Miller, co-founder and CEO of ePAR, stated, “We are delighted to secure additional capital to continue implementing our technology with our growing client base.”
John Gustafson, managing director of CFO Capital, acting in his capacity as a registered securities agent of M&A Securities Group, served as strategic and financial advisor, as ePAR has evolved from pre-revenue to implementing a rapidly growing customer base, driven by regulatory environment and financial market changes. Given the fact that ePAR developed a strong and supportive existing base of investors, CFO Capital has focused on providing back-office support to the company’s existing investors while also expanding ePAR’s exposure with new institutional investors.
Gustafson added, “We have enjoyed working with the innovative team at ePAR as they work to bring their vision to fruition.”