Credit-card processing company Fattmerchant acquired by Greater Sum Ventures
Fattmerchant, a credit-card processing company co-founded by Suneera Madhani has been acquired. Greater Sum Ventures said it made a majority investment in the Orlando, Fla. company. Terms were not disclosed. Fattmerchant had previously been backed by Fulcrum Equity Partners, Wet Paint Ventures, Florida Angel Nexus and venVelo. Founded in 2014, Fattmerchant is a subscription-based merchant services provider that provides unlimited credit card processing at direct cost. The company is currently processing more than $1 billion in transactional volume. Suneera, who serves as CEO, founded the company after working in the credit card processing industry for four years and wanting to create a product that was both transparent and provided value to everyday business owners. She co-founded it with Sal Rehmetullah, who serves as president. Both are remaining with the company. http://www.fattmerchant.com.