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Square 1 Bank Provides $5MM Facility to Nomis Solutions

September 25, 2013, 07:40 AM
Filed Under: Software

Square 1 Bank announced that it has provided a $5 million credit facility to new fintech client, Nomis Solutions, Inc. Backed by investors August Capital, Red Rock Ventures, and Bain Capital, Nomis Solutions is a software company that delivers advanced pricing and profitability management for financial services companies. Proceeds will be used to accelerate Nomis Solutions’ growth.

Headquartered in San Bruno, CA with offices in Toronto, Atlanta, and London, Nomis Solutions uses comprehensive market data and behavioral analytics to predict customer price sensitivity to help determine prices, interest rates and fees for a bank’s consumer products. The Nomis Pricing and Profitability Management TM Suite creates a consistent bank-wide standard and prioritizes customers’ individual needs and preferences. Nomis’ platform allows for increased flexibility on the customer side and optimized prices on the bank side to strengthen the full lifecycle relationship between the bank and its clientele.

“Square 1 Bank appreciates the opportunity to help Nomis Solutions continue to provide world-class pricing software and profitability tools to banks worldwide,” said Chris Erro, senior vice president in Square 1’s asset-based lending. “As a bank that is dedicated to helping growing companies realize their vision, we look forward to partnering with the team at Nomis during this stage of impressive growth.”

Richard Whittow, chief financial officer at Nomis Solutions said, “Square 1 Bank understands the importance of knowing their customers and markets in order to provide them with tools to scale their business. We chose Square 1 because they created a flexible structure that fit our current needs and rapid growth.”

Square 1 Bank is a full service commercial bank dedicated exclusively to serving the financial needs of the venture capital community and entrepreneurs in all stages of growth and expansion.

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