Prepaid Technologies of Birmingham Scores Huge – $5 Mill. to be Exact

When innovation is applied correctly, efficiency is the output. No matter the industry your business is apart of, this output ought to be a daily goal striven toward.

Prepaid Technologies understands this quite well in the financial world, and the new amount of capital invested will allow for more expansion toward success.

Constant growth has been a trend for this Birmingham based company for quite some time; no wonder they caught the eyes of the Tampa investment group, Ballest Point Ventures.

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Let’s be honest, it’s something to dance about!

The company is deep rooted in electronic payment methods and will continue to do so through a recent project with MasterCard and the U.S. Youth Soccer league. The investment made will not only help in this project, but will spur the company into stronger operational activities.

BPV’s investment will allow Prepaid to strengthen their IT capacity, Faust said, streamlining and automating internal process flows to allow staff to work more on client satisfaction and developing product. Prepaid will also add staff and develop their marketing arm.

– Melissa Brown, BBJ

The current owner, Stephen Faust, took the business over from his father-in-law in 2008 where his dreams to launch the company into the next stages of growth had huge potential.

Stephen Faust
Stephen Faust

Ballast Point Ventures recently invested in TicketBiscuit, a Birmingham tech firm which provides an easier way to purchase tickets to your favorite events!

In short, this is yet another win for our Magic and Growing city. Within the last year, there has been an unbelievable amount of startup funding and support, along side investments of well established companies.

“This is a great fit for us given our focus on partnering with rapidly growing private companies with great management teams headquartered in the Southeastern United States and Texas.”

 – Faust told the BBJ

I am fully anticipating the next “win” Birmingham will have. What do you think it will be?
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Wade Cline
Wade Cline

Marketing Producer at Bham Now, Tech Junkie, Foodie, Bham Lover, Movie Snob, Wannabe Quantum Physicist. You can likely find me either at Trim Tab Brewing or O'henry's Coffee in Homewood.

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