Mediant, a leading provider of investor communications technology and technology-enabled solutions to banks, brokers, corporations and funds, has reached an agreement with several of its investors for an $18.5 million equity infusion to fuel the next stage of its strategic growth.
Read More: Banks Are Experiencing a Kodak Moment: Lessons Learned from a Fallen Giant
Under the terms of the transaction, lead investor Argentum, along with Breakwater Mediant, Compo Seven Capital, Mathers Associates and First Analysis Corporation, intend to convert into equity $18.5 million in debt of Mediant. The transaction will allow Mediant to make more aggressive investments in its technology and solution offerings for clients.
“Mediant continues to enjoy solid growth, and we are pleased that this transaction validates our strategy for the future, strengthening our balance sheet and freeing up additional resources to help service the banks, brokerage firms, corporate issuers and investment companies that rely on us for their regulatory communications,” said Arthur Rosenzweig, Founder and Chief Executive Officer of Mediant. “We are energized by the partnership and commitment from our investors that this transaction represents.”
Read More: Bank Of The Future: How Banks And Fintechs Are This Decade’s Unlikely Duo
Mediant has been at the cutting edge of providing seamless technology to enable firms to engage with their shareholders and ensure compliance through multi-channel digital solutions. The disruptions caused by the COVID-19 outbreak have created unprecedented demand for Mediant’s platform, particularly Mediant’s MIC Digital Shareholder Meeting.
“Mediant has proven it can innovate and show impressive growth, and do so in a highly profitable manner,” said Walter Barandiaran, Managing Partner of Argentum and Chairman of Mediant. “By converting our debt into equity, our investors feel we are better aligned to both support that growth and the innovation that Mediant’s clients have come to expect from the company. We are excited about the future.”
Read More: GlobalFintechSeries Interview with Chuck Klein, Chief Executive Officer & Founder at IMM
