Edison Ventures announces the acquisition of Andera Inc. for 44.5 million by Bottomline Technologies today.
Charlie Kroll, Founder and CEO at Andera Inc. comments: "We thank the entire Edison team for their support and significant contribution to the growth of our company." He continued, "Their strategic and practical advice helped Andera anticipate and solve many business challenges."
Andera sells online banking software to open new accounts and fund accounts and apply for loans from a mobile device. They have served more than 500 bank and credit union customers process more than 4.5 million account applications thus far.
Christ Sugden, Edison Managing Partner, comments: "Charlie Kroll and the Andera management team had the domain expertise to build an impressive industry leader. Entrepreneurial dedication, product innovation and exceptional customer support enabled Andera to outpace its competition."
Other Edison Fintech investments to be noted include Billtrust, Business Financial Services, Compliance Science, EdgeTrade, Folio Dynamix, Gain Capital, Liberty Tax, Princeton Financial System, Neat Company, Redvision, Scivantage and Trader Tools.
Join the Conversation