Swift Financial Corporation Raises $20 Million
February 21 2008 - 8:00AM
PR Newswire (US)
Financial Services Company Closes Series B Round WILMINGTON, Del.,
Feb. 21 /PRNewswire/ -- Swift Financial
(http://www.swiftfinancial.com/), the direct financial services
company dedicated to small business banking, today announced the
close of its Series B Preferred Stock financing round of $20
million, bringing the total investment in the company to $26.5
million. Investors included Sutter Hill Ventures
(http://www.shv.com/), Village Ventures
(http://www.villageventures.com/), Permit Capital and a subsidiary
of Marshall & Ilsley Corporation. "We are energized by the
confidence shown in Swift Financial by these investors," says
company founder and CEO Ed Harycki. "Their support will enable us
to offer small businesses exceptional service and a chance to grow
in a challenging credit environment." About Sutter Hill Ventures
Sutter Hill Ventures, in Palo Alto, Calif., is a venture capital
firm that finances technology-based start-up and early-stage
companies pioneering products or services in growth markets,
especially those in information technology and health care. Founded
in 1964, it is one of Silicon Valley's original venture capital
firms. Companies backed by Sutter Hill include: Netapp, Legato,
Quantum, Storage Tek, Tellabs, Alteon, Linear Technology, NVIDIA,
BroadVision, Vitria, Molecular Devices, Cor Therapeutics, Amylin
Pharmaceuticals, Omnicell and eLoyalty. About Village Ventures
Village Ventures is a seed and early stage venture capital firm
focusing on three primary sectors: consumer media and retail,
health care and financial services. The Williamstown, Mass., firm's
strategy is to partner with leading entrepreneurs creating
innovative products and solving complicated problems in those
industries. About Permit Capital Permit Capital, LLC, is an
independent investment firm founded in 2002 in West Conshohocken,
PA. The firm invests domestically and internationally in private
and public securities. About Marshall & Ilsley Corporation
Marshall & Ilsley Corporation (NYSE:MI) is a diversified
financial services corporation headquartered in Milwaukee, Wis.,
with $59.8 billion in assets. Founded in 1847, M&I Marshall
& Ilsley Bank is the largest Wisconsin- based bank, with 193
offices throughout the state. In addition, M&I has 49 locations
throughout Arizona; 32 offices in central Indiana; 31 offices along
Florida's west coast and in central Florida; 14 offices in Kansas
City and nearby communities; 22 offices in metropolitan
Minneapolis/St. Paul, and one in Duluth, Minn.; and one office in
Las Vegas, Nev. M&I's Southwest Bank subsidiary has 17 offices
in the greater St. Louis area. M&I also provides trust and
investment management, equipment leasing, mortgage banking, asset-
based lending, financial planning, investments, and insurance
services from offices throughout the country and on the Internet
(http://www.mibank.com/ or http://www.micorp.com/). M&I's
customer-based approach, internal growth, and strategic
acquisitions have made M&I a nationally recognized leader in
the financial services industry. About Swift Financial Corporation
Swift Financial is a direct financial services company dedicated to
small- business banking. Headquartered in Wilmington, Del., Swift
Financial launched in 2007 and is led by a veteran team of top bank
executives who want to provide small businesses with simple banking
products without excessive fees and penalties - while providing a
level of service not typically associated with small-business
banking. Swift Financial is able to make these products available
through its relationship with M&I Bank FSB ensuring that
customer deposits are FDIC insured. For more information, visit
http://www.swiftfinancial.com/. DATASOURCE: Swift Financial
CONTACT: Laura Rossi for Swift Financial, +1-302-374-7085, Web
site: http://www.swiftfinancial.com/ http://www.shv.com/
http://www.villageventures.com/ http://www.mibank.com/
http://www.micorp.com/
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