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Capital Banking Solutions and Berytech Fund II Announce $5 Million Equity Investment
During a press conference held at Le Gray Hotel on June 5, Capital Banking Solutions (CBS) and Berytech Fund II announced a $5 million equity investment of Berytech Fund II in CBS’ capital.
Commenting on the investment, Samer Hanna, Chairman and CEO of Capital Banking Solutions, said, “CBS offers a full suite of innovative software solutions to the financial services industry. Our rapid growth driven by our simple yet powerful banking products reaches more than 250 banks and financial institutions spread over 60 countries. Today, we’re very excited to work with Maroun Chammas and the Berytech team as we continue to bring pertinent products to more banks and financial institutions around the world.”
Maroun Chammas, Chairman of Berytech Fund II, underlined that “Berytech Fund II’s objective is to invest in Lebanese SMEs with high growth potential and high human added value, which contribute to the knowledge economy. Capital Banking Solutions falls into this category and we are very excited to invest USD 5 million – our biggest investment to date – into their future to help them grow their specialized banking solutions and tools. We are also looking forward to being part of the Board of the company which is one of the largest IT players in the country and the region.”
The gathering was also an opportunity to announce the launch of CBS’s new brand identity, direct consequence of the company’s sound expansion overseas and rising positioning as a leading banking services provider.
“We wanted to refresh the visual of the brand while keeping the familiar sentiment of trustworthiness and authority”, said Samer Hanna. “Joining forces with Berytech could not have come at a better time: adding to CBS’s new image, our combined know-how and broad understanding of the market’s changing needs give us the right tools to provide even more banks and financial institutions with intuitive, competitive and connected solutions.”