Solutions by Text Raises $110M Growth Funding

Solutions by Text, a Dallas, TX-based provider of a platform for compliance-first messaging and payments, raised $110M in new growth financing.

Edison Partners co-led the transaction with StepStone Group. Stifel Venture Bank, a division of Stifel Bank, provided a lending facility.

The company intends to use the funds to accelerate its growth with large financial institutions, expand its payments and artificial intelligence capabilities, and seek inorganic opportunities.

Led by CEO David Baxter, Solutions by Text provides FinText™, empowering enterprise financial services companies to compliantly engage, interact and transact with their consumers in real-time. Consumer finance organizations use its SBT’s compliance platform to mitigate legal and reputational risk while driving messaging and payments performance throughout the consumer lifecycle – from marketing and loan origination to servicing, collections and bill payment.