Northteq, Inc., a provider of Salesforce loan origination solutions and equipment finance software, announced a stock purchase investment from Arthur Ventures, a Minnesota-based venture capital firm specializing in growing B2B software companies. The partnership is set to fast-track Northteq's vision to further enhance the borrower and vendor experience in the equipment finance industry. This strategic investment will not only accelerate Northteq's vision but also establish a board of directors to help lead the company.
With Arthur Ventures' extensive expertise in B2B software, particularly in domains beyond Equipment Finance, their involvement brings a wealth of knowledge and a robust portfolio of B2B Software companies. “This partnership not only aligns with our vision but significantly enhances our capabilities. Northteq has always been at the forefront of innovation in the equipment finance industry. Now, with Arthur Ventures' investment and their deep understanding of B2B software, we are poised to accelerate our efforts and bring even more value to our customers," said Kristian Dolan, founder and Chief Executive Officer at Northteq.
This partnership underscores a shared vision for enhancing the borrower and vendor experience, a key focus for both Northteq and Arthur Ventures. "We’re excited about Northteq's long-term vision and how deeply they understand the dynamic between lenders and their vendors and borrowers. Their innovative focus on the borrower and vendor experience made this a very compelling investment for us," said Patrick Meenan, general partner at Arthur Ventures. “Northteq represents exactly the sort of company that Arthur Ventures is built to partner with: high growth, profitable, and a market-leading product. We're thrilled to support Northteq as they embark on this exciting new chapter,” Meenan added.
As a result, the investment leads to the formation of a new board of directors, ready to guide Northteq into its next growth phase. Dolan will join forces with Meenan from Arthur Ventures, alongside other esteemed members yet to be announced, to guide Northteq towards unprecedented growth and success.
“At Northteq, our unwavering commitment to our customers and to the equipment finance industry remains at the heart of everything we do. This investment reinforces our ability to deliver cutting-edge solutions, enhancing the borrower and vendor experience in ways previously unimagined. This significant milestone will only enhance the top-tier service our customers have always experienced, marking an exciting step forward for us all," Dolan noted.