Suntell, makers of the Square 1 Credit Suite, partner with Arcadea Group to support continued growth in the banking and credit union markets
TORONTO & TOPEKA, Kan., July 27, 2022--(BUSINESS WIRE)--Suntell, makers of the Square 1 Credit Suite and market leader in Loan Origination software for community banks and credit unions, announces the close of a strategic equity recapitalization with Arcadea Group, the only permanent-capital growth investor in software companies globally.
The transaction will see Suntell’s CEO Duane Lankard and President Ronnie Wooten both continue in their roles as the business expands its market presence and product roadmap.
"We are excited to partner with the Arcadea team to capitalize on what our team has built over the past 25 years, and continue our growth story together," says Lankard. He goes on to mention that "We are excited for what this means for both our current and future customers as we execute on product expansion and increase the value we can deliver to the market through the Square 1 Credit Suite product." He notes "The demand for purpose-built loan origination solutions continues to increase over time. Having been presented with many options from a variety of potential partners during this process, Arcadea was our choice as the right partner given their familiarity in growing businesses like Suntell their long-term approach to growth and market expansion. This will no doubt be a great partnership for years to come."
Daniel Eisen, Managing Director & Co-Founder of Arcadea Group, said, "Suntell has done a wonderful job serving the community banking and credit union market. Its reputation as a leading providing of lending solutions is well deserved. We look forward to continuing the legacy of high-quality product and customer service for many years to come."
"We’re excited about the opportunity to partner with the Suntell team," said Paul Yancich, Managing Director & Co-Founder of Arcadea Group. He added, "The business is a great representation of the sort of businesses Arcadea was built for: growing, capital-efficient and solving mission-critical problems for a well-defined group of customers."
Suntell was founded in 1996 by bankers, looking to solve for the labor intensiveness of every single step of the collection and analyzing of financial data, of servicing a loan portfolio, and managing the collections of problem loans. Suntell aims to provide community banks and credit unions across the United States with better asset quality, strong safety and soundness around regulatory examinations, and workflow efficiency. Suntell pioneered the Loan Management System (LMS) for maximum productivity. Suntell continues to use their skills and subject matter expertise to continue to develop and enhance products to be responsive to the industry and feedback from our valued customers.
About Arcadea Group
Arcadea Group invests in high-quality, independent, typically founder-controlled software companies over typically extremely long durations of time that no private equity or growth equity firm can match. Based in Toronto and investing globally, Arcadea exclusively focuses on businesses with long-term growth potential and ambitions.
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