Fintech Funding Investments News

Fintainium Receives $1Million in Funding From Bruning Bancshares and Expands Its Leadership Team by Adding Key Board Members

Fintainium Receives $1Million in Funding From Bruning Bancshares and Expands Its Leadership Team by Adding Key Board Members
Kenneth McPhail as Chairman and Chris Tonniges as Director, both former executives at CIT Bank. In addition, Barton “Chip” Bright has joined Fintainium as Chief Compliance Officer and General Counsel.

Fintainium Inc. announced that Bruning Bancshares (“Bruning”) has made an equity investment into Fintainium alongside several family offices and high-net-worth individual investors comprising a total of $2.5M in equity. The investment is intended to support the continued development of Fintainium’s next-generation treasury management platform and the hiring of key talent.

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Alongside this investment, Fintainium has expanded its board of directors and appointed Kenneth McPhail as chairman and Chris Tonniges as a director. Ken brings over 30 years of investment and commercial banking experience within the financial services industry, having most recently served as EVP and Chief Strategy Officer at CIT Bank, where he was a lead executive on the sale of the bank to First Citizens BancShares, Raleigh, NC. Previously Ken acted as a senior investment banker in the financial Institutions’ M&A sector, responsible for originating and executing over $60 billion in merger transactions. Chris is a fifth-generation banker and serves on the Board of Bruning. Chris is currently the CEO of a Health and Human Services Non-Profit organization but also worked at CIT Bank, where he was the head of FinTech banking services. He helped design, build, and create banking systems for FinTech customers allowing them to build and scale payment functionality. Combined, Ken and Chris bring over 60 years of experience in banking and FinTech to help accelerate Fintainium’s growth to the next stage.

Chris remarked, “These are exciting times for Bruning Bancshares as we partner, enable, and assist in the growth, scalability, and revenue acceleration phase of Fintainium’s history. This is the right time and partner for this strategic investment.”

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In addition to the board expansion, Fintainium has added Barton “Chip” Bright to the executive team as Chief Compliance Officer, General Counsel, and Corporate Secretary. Chip brings over 25 years of experience serving the financial services and IT industries. He has held senior and chief legal and compliance positions with such companies as SunTrust Bank, TSYS, BBVA Compass, FIS Global, FactorTrust, and BillingTree.

Fintainium’s Chief Executive Officer, Richard Jackman, remarked, “We are very fortunate to add such high caliber talent to the FINTAINIUM leadership team. Ken’s leadership along with Chris and Chip’s deep fintech expertise will ensure that Fintainium continues to grow and marks an exciting time for the company.”

Fintainium facilitates the relationship between financial institutions, businesses, and other technology companies by combining world-class domestic and international money movement products with workflow, accounting, and reconciliation automation. Fintainium enhances back-office operations for institutions and streamlines working capital management for end-users.

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