The new capital will be used to upgrade the capabilities of the MineralTree platform and to allow new partnerships with banks and distribution to their SMB customers.
The MineralTree solution is a cloud-based payment and cash management service which enables users to handle multiple payment types (checks, ACH, wires, credit cards) via one interface and uses electronic document-management technologies to eliminate paper for backups and approval processes. The MineralTree service includes a series of applications such as the MineralTree Accounting Manager Application, the MineralTree CFO Application and the MineralTree Bank Operations Application.
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