Financial Management Systems Raises $4,000,000 of Private Equity

Financial Management Systems, a technology-enabled business-process-outsourcing company focused on financial-management services for governments and private-sector clients, today announced completion of a $4.0 million private equity financing led by Venturion Capital and Allen Konrad Asset Management.

According to Bruce MacFarlane, a Managing Director with Venturion, “We very much look forward to forging a close, long-term partnership with FMS and its management team. We are impressed with management’s ability to build a top quality business-process-outsourcing business in a very short time.”

Balaji Rajan, President of FMS, stated: “We are very pleased to have Venturion and Allen Konrad as investors. Venturion is a highly experienced and astute investor in the financial-services arena and we are delighted by their vote of confidence in our company. We believe Venturion is an ideal investor for FMS because of the depth and breadth of industry expertise and contacts that they bring to us.”

Carver Cross Securities Corp. acted as FMS’s financial advisor and placement agent. Reitler Brown & Rosenblatt LLC served as counsel to FMS. West PLC served as counsel to the investor group.