Fisoc Raises $5 Million for Growth

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Fisoc, a provider of merchant-funded reward programs to financial institutions, has raised $5 million in fresh capital to help fund future growth.

The lead investors in the C Round of funding were Greycroft Partners, KEC Holdings and Metamorphic Ventures, Austin-based fisoc said last week. Other investors included Daylight Partners in Austin and local angel investors.

"These additional funds will enable us to service our rapidly growing customer base and execute and support contracts with financial institutions (FIs) ranging from the upper Midwest, Deep South and Northeast, in addition to our first markets in Texas and Arkansas," Jay Valanju, chief executive of fisoc, said in a news release.

Fisoc provides Buzz Points, a merchant-funded debit card rewards program for community banks and credit unions.

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