CHARLOTTE — Fintech startup PrecisionLender — co-founded by North Carolina School of Science in Mathematics grad Carl Ryden — is now under new ownership.
Q2 Holdings today announced it has completed the acquisition of the Charlotte-based startup, also known as Lender Performance Group, in a cash transaction of about $510 million. The deal was originally announced by Q2, a secure, cloud-based digital transformation solutions company headquartered in Austin, Texas, on Oct.1.
Founded in 2009, Charlotte-based PrecisionLender is one of the fastest growing enterprise SaaS providers of data-driven sales enablement, pricing and portfolio management solutions for financial institutions (FI) globally. More than 13,000 bankers at approximately 150 banks — ranging from under $1B to over $1T in assets— use PrecisionLender’s solution, according to its website.
“We are thrilled with the outstanding talent, culture and industry expertise the PrecisionLender team brings to the Q2 family,” said Matt Flake, CEO of Q2, in a statement. “We are also excited about the potential we have to help our customers improve margins, profitability and the quality of their relationship with their key accounts using our combined data insights and commercial banking solutions.”