Capital infusion validates early success, adds capacity, fuels innovation
ORMOND BEACH, Fla., April 13, 2021 (Newswire.com) - Snappy Kraken, an automated growth program for financial advisors, today announced the closing of $6 million in Series A financing. Led by FINTOP Capital, the round was joined by Flyover Capital and 1248 Holdings, both of which participated previously in a 2019 seed round.
"We raised this capital to serve our advisors better. Even though additional funding wasn't required from a financial perspective, we decided it was essential from an innovation perspective. This means opening up new marketing channels, adding new features, and integrating with other tools advisors rely on."
Robert Sofia, CEO
"We invested in Snappy Kraken because of our belief in the opportunity for advisory firms to engage in marketing automation," said Marty Bicknell of Mariner Wealth Advisors, an SEC Registered Investment Advisor ranked by Barron's as a top-five RIA for the last five years, and 1248 Holdings, a family-owned private investment company (formerly known as Bicknell Family Holding Company). "The single most important thing you can do as an advisory firm is to focus on client retention and acquisition strategies. At Mariner Wealth Advisors, we believe it is the responsibility of the firm to feed our advisors with new client opportunities. Marketing automation is a key to fulfilling that obligation. What Snappy Kraken has built levels the playing field for small firms."
"We are all very excited to be part of this next phase of Snappy Kraken's growth," said Rick Kushel, General Partner at FINTOP Capital. "As new investor partners, we will bring not just capital but a track record of guiding financial technology companies through growth phases and successful outcomes."
Kushel will become a member of Snappy Kraken's board of directors, joining Aaron Klein, CEO of Riskalyze, Marty Bicknell of 1248 Holdings / Mariner Wealth Advisors, and Thad Langford of Flyover Capital.
DOUBLING DOWN ON PRODUCT INNOVATION
"We raised this capital to serve our advisors better," said Robert Sofia, CEO of Snappy Kraken. "Even though additional funding wasn't required from a financial perspective, we decided it was essential from an innovation perspective. This means opening up new marketing channels, adding new features, and integrating with other tools advisors rely on."
"This Series A funding is another big vote of confidence for Snappy Kraken and the work they are doing to make digital marketing and client retention effective, efficient, and affordable for financial advisors," said Aaron Klein, CEO of Riskalyze. "It's also a really great company to work for, as evidenced by the 2021 list of Best Places to Work in Financial Technology. This is all exciting news and I'm thrilled to be a Board member."
ABOUT SNAPPY KRAKEN
Snappy Kraken provides marketing automation, online advertising, and bold, unique marketing for financial professionals. Each automated campaign on the Snappy Kraken platform is focused on achieving specific and trackable goals that grow business. All Snappy Kraken subscribers are assigned to a personal Success Specialist who helps them set up, manage, and optimize their use of the platform through monthly performance check-ins. To learn more about Snappy Kraken's award-winning solutions for financial advisors, including white-labeled enterprise solutions, as well as the 2021 "State of Digital Report," visit www.SnappyKraken.com.
ABOUT FINTOP CAPITAL
FINTOP Capital is a venture capital firm focused on Financial Technology (FinTech) companies with offices in Nashville, Tennessee; St. Louis, Missouri; and Morristown, New Jersey. Run by financial leaders and operators who have built successful startups themselves, the firm understands the ups and downs of the startup world. The company brings strong networks, experience, and capital to entrepreneurs building B2B service-enabled SaaS and software companies in the FinTech space. To learn more, visit www.FINTOPCapital.com.
Impact Communications, Inc.
Source: Snappy Kraken