Partnership to accelerate future growth and innovation MoneyThumb SaaS Document Rating Technology

SAN DIEGO, August 29, 2024 /PRNewswire/ — MoneyThumba leader in automated document evaluation and fraud detection solutions today announced its acquisition by Iron Creek Partners LLC (“Iron Creek”), a private investment firm focused on investments in the software, data, communications and business services industries. Iron Creek led the investment group, which also included Main Street Capital Corporation (NYSE: MAIN). The transaction will provide growth capital to help meet strong industry demand for MoneyThumb, which recently produced 100% annual growth from one year to the next. The transaction closed on August 19, 2024.

Ryan Campbell, who previously led business development at MoneyThumb since 2017, has been named the new CEO and joined the investor group. Ryan has played an integral role in leading MoneyThumb’s sales, marketing and business development strategy. Ralph Mayer, the company’s founder, will step down as CEO and take on an advisory role while retaining his seat on the board of directors.

Founded in 2014, MoneyThumb is an industry-leading underwriting automation software that improves the workflows of funders, lenders and accountants by converting and analyzing PDF financial documents in seconds. The company also helps detect fraud with its AI file tampering detection tool that identifies fraudulent activity in seconds, providing lenders with a powerful defense against loan risk and loss.

“This acquisition highlights MoneyThumb’s proven technology and strong industry demand, and supports our long-term growth objectives,” said Ryan Campbell. “This partnership marks an exciting milestone for our business and with the support of Iron Creek, we are well positioned to accelerate our growth, continue to provide exceptional software solutions to our customers and help lenders manage risk and deliver more capital more quickly to small businesses. “.

“MoneyThumb has built a highly successful business through its algorithm-driven software, innovative products and a meticulous approach to providing value and service to its customers,” said John Bingaman, founder and chief executive officer of MoneyThumb. ‘Iron Creek Partners LLC. “We look forward to working closely with the talented MoneyThumb team to continue to grow the business and expand the product offering.”

Financial terms of the transaction were not disclosed.

For more information about MoneyThumb, please visit www.moneythumb.com.

About MoneyThumb
MoneyThumb is an advanced automation software solution that streamlines the loan underwriting process by instantly converting bank statements into actionable data. By exponentially increasing the efficiency, accuracy and detection of fraud – MoneyThumb enables lenders and accountants to make faster, more informed and accurate decisions. MoneyThumb is headquartered in Encinitas, Californiaand serves customers around the world. For more information, visit www.moneythumb.com.

About Icon Creek
Iron Creek is a sector-focused, stage-agnostic private investment firm based in Santa Fe, New Mexicolooking for attractive investment opportunities, primarily in the software, data, communications and business services sectors. Iron Creek seeks to partner with strong management teams and support the growth of its portfolio companies by leveraging its network of relationships and industry experience.

About Main Street Capital Corporation
Main Street (www.mainstcapital.com) is a principal investment company primarily providing long-term debt and equity capital to lower middle market companies, as well as debt capital to middle market companies. Main Street’s portfolio investments are typically made to support management buyouts, recapitalizations, growth financings, refinancings and acquisitions of companies operating in various industry sectors. Main Street seeks to partner with entrepreneurs, business owners and management teams and typically offers “one-stop shopping” financing alternatives as part of its lower middle market investment strategy. Main Street’s lower middle market businesses typically have annual revenues between 10 million dollars And $150 million. Main Street’s middle market debt investments are made in companies that are generally larger in size than its lower middle market portfolio companies.

Main Street, through its wholly owned holding company MSC Adviser I, LLC (“MSC Adviser”), also operates an asset management business through which it manages investments for external parties . MSC Adviser is registered as an investment adviser under the Investment Advisers Act of 1940.

Media contact 
Tracy Rubin
JCUTLER Media Group
Tracy@jcmg.com

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SOURCE MoneyThumb