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West Partners Increases Investment in D3 Banking

Posted on May 25, 2017 · Posted in News

This month, West Partners increased its investment in D3 Banking by 50% via debt funding under its 3-year credit facility.  D3 Banking retains rights to call additional debt and equity capital that could increase West Partners’ investment another 50%.

In June 2016, West Partners invested in D3 Banking alongside Route 66 Ventures and the D3 Banking management team.  As part of that original investment last year, West Partners provided D3 Banking the right to draw additional equity funding, as well as the right to borrow under a 3-year credit facility with West Partners.  This structure provided D3 Banking with the ability to fully fund its business plan, plus significant additional capital to cover contingencies and empower management to pursue strategic opportunities.

“D3 Banking has already signed two new financial institutions in 2017, both with assets over $20 billion.  By the end of this year, more than 2.5 million consumers will be using the D3 Banking platform.  The company is crushing its competition and building a track record that includes the successful completion of some of the largest online and mobile banking projects in the history of the industry,” said Dennis O’Brien, President of West Partners.