Philadelphia, PA – Square 1 Bank, the exclusive banking partner to entrepreneurs and the venture capital community, proudly announces the extension of a $2.5 million credit facility to ProfitPoint, Inc., a leading provider of stored value and loyalty program solutions. ProfitPoint specializes in designing, implementing, maintaining, and growing gift and loyalty programs to build successful, lasting customer-value based relationships.
“We were impressed with Square 1’s incredible responsiveness and ability to close our financing transaction quickly. Square 1’s experience with venture backed growth companies was a compelling factor in choosing our new bank,” stated Ward Schultz, ProfitPoint’s Interim CEO.
“Square 1‘s strong focus on the client experience allows us a unique appreciation for other companies with the same priorities,” said Brad Ellis, SVP of Venture Banking at Square 1. “ProfitPoint values customer retention and service, which should take them far in this market. We believe Ward and his team are well poised to take the business to the next level.”
ProfitPoint, Inc. is a leading provider of gift and loyalty programs to small-to-medium sized businesses. Recognized by Inc. Magazine’s list of 500/5000 fastest growing private companies for three consecutive years, ProfitPoint debuted at # 59 in 2008. ProfitPoint excels in the design, implementation and support of custom gift and loyalty programs. With its corporate headquarters near Philadelphia, PA, ProfitPoint utilizes a proprietary technology platform to provide clients with real-time electronic transaction processing, state-of-the-art reporting, point-of-purchase marketing tools, direct marketing services and merchant training. ProfitPoint serves the marketing needs of thousands of merchants nationally and internationally and processes millions of gift cards annually. www.rewardforloyalty.com
About Square 1
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. Square 1's expertise, focus and strong capital base provide solid support for its clients' needs. The bank offers tailored products and solutions aided by the latest in technological innovations. To serve its relationships, Square 1 has offices coast to coast in Austin, Boston, Boulder, Durham, McLean, New York, San Diego, Santa Monica, Seattle, and Silicon Valley. For more information, visit www.square1bank.com .
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