Transforming an Idea into a Successful Startup
Every business begins with an idea, an initial thought. But without proper execution, that idea goes nowhere. In 2011, Tucker Mathis, founder and CEO of FINSYNC, saw many businesses struggling to manage, project and analyze their cash flow. The problem was businesses were cobbling together too many solutions, and none of these applications worked well together or effectively synced with online banking.
Tucker began by assembling a team of talented software developers who believed in the destination and in the way they would get there. They embarked on a journey to organically create a fully integrated financial management platform that would help businesses run better by bringing all finances in sync.
After three years of work by senior software developers, the idea began coming to fruition. The startup rolled out their platform in 2015, and already they’re forecasting tremendous growth.
FINSYNC integrates multiple software solutions needed to run a business. Combining all these services duly benefits their clients. COO Anna Maiolo believes this makes for a compelling story. “When you bring all the functionality to one platform, it’s a significant cost and time savings for our customers,” she said. It was an idea that has become a punch-packed service.
Even before product implementation, FINSYNC senior staff recognized two hurdles they would need to overcome: competition and backing. “It has been challenging when you have large incumbent competitors,” Anna said. “People look at us and say we compete with QuickBooks and some of the big payroll providers out there. We compete with a number of other vendors as well, but differentiate ourselves by the level of integration achieved.”
A small startup would be going toe-to-toe with industry giants. FINSYNC needed a partner that had been there before and would stand in their corner. “We process a high volume of ACH transactions,” Anna said. Financial backing to implement their money movement services securely was a necessity.
“Atlantic Capital’s Nathan Ottinger, who has worked extensively with tech startups and growth companies, understood the vision of FINSYNC,” Anna said. “He understood how we could evolve quickly, and [Atlantic Capital] allowed us to be more flexible in our daily processes, which empowered us to provide the services and credit facilities needed to support our customers’ transactions.”
The relationship did not end there. Atlantic Capital continues to make each transaction possible. “We’re moving—growing, and Atlantic Capital is here with us,” Anna said.
Atlantic Capital saw FINSYNC’s promise and potential. And with Atlantic Capital’s backing, FINSYNC became more than an idea. FINSYNC became a business on the rise.
Business begins with a thought. The right resources, thoughtful execution, and the right bank in your corner can bring ideas into reality. Give your startup a chance to grow. Partner with Atlantic Capital.