FinTech: Iroquois Capital's payments startup doesn't rule-out capraise

July 9, 2015 By Milt Capps
Venture Nashville Connections

IROQUOIS Merchant Services LLC, an Iroquois Capital Group startup, has strong access to a network of investors, but after 2015 larger asset-acquisition opportunities may call for new money.

ICG Managing Director Daniel McGugin is president of the IMS portfolio company. He told Venture Nashville the IMS business began greenfield operations in February, and is now serving "close to 1,000" entities, producing a 38-state footprint.

IMS, a merchant-services provider and independent sales organization, now has relationships with Atlanta-based payment processors Elavon (U.S. BanK) and First Data; and, it is finalizing an indirect relationship with Cincinnati-based Vantiv, McGugin confirmed.

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