St. Louis Business Journal Ranks Clearent #2 on List of Fastest Growing Companies
Online, July 2, 2014 (Newswire.com) - Today Clearent, one of the fastest growing credit card processing companies in the U.S., announced that it has been named to the St. Louis Business Journal's list of fastest growing private companies. This year Clearent comes in at #2 as the company celebrates the third consecutive year it has appeared on the list. Despite the company's increasing size, Clearent continues to move up the rankings, first starting out at #4 in 2012, then appearing at #3 in 2013, and today being named #2.
The key to Clearent's growth has been to provide better technology that addresses customer needs in ways that legacy payments companies are not able to do. This strategy has helped Clearent attract and retain customers in a highly competitive market.
For example, Clearent's proprietary processing platform provides graphical online reporting tools that make it easier for its sales partners to manage their business, while at the same time providing unrivaled clarity to merchants so they can clearly see all program costs and fees. Clearent's back-end processing platform also drives the company's next day funding service which helps merchants receive their deposits from weekend sales activity one day earlier than with standard funding options. Clearent's 11:00 p.m. Eastern cut off time is one of the latest in the industry.
Clearent earned its position on the St. Louis Business Journal's list thanks to its 204% increase in revenue between 2011 and 2013. This year Clearent has already added 2,000 new merchants and now processes at an annualized rate of nearly $7 billion in transaction volume. These growth rates helped Clearent land on two other prestigious lists, coming in at #51 on The Nilson Report's list of Top Merchant Acquirers and #904 on the Inc. 5000's list of fastest growing companies. It's also important to note that Clearent's growth is 100% organic and has been driven solely by its Sales teams and partners.
Clearent is well positioned for future growth thanks to its developer-friendly transaction API that was launched earlier this year. Because of Clearent's robust proprietary payment processing platform, software application developers now have access to a full service payments platform that speeds their time to market, offers multiple integration options, is compatible with major shopping carts, and offers a seamless user experience for payments within software applications and programs.
Clearent has been aggressively hiring to support its Technology, Sales, and Marketing teams and now has more than 60 employees in the St. Louis area and nearly 130 total employees nationwide. Earlier this year Clearent remodeled and expanded its corporate headquarters in Clayton to accommodate this growth and help attract more great talent.
"We're excited to have been named to the St. Louis Business Journal's list of fastest growing companies. Our roots run deep in the greater St. Louis area, and we are proud to help support this community and drive its economic expansion," said Dan Geraty, CEO of Clearent.
About Clearent
Clearent is a payment processor that was built to be different. We combine leading edge technology with a passion for service to help our customers maximize the value of their merchant services program. Clearent provides sales agents, merchants, software developers and financial institutions with benefits not available from other providers, such as next day funding with a late cut-off time and unrivaled graphical, web-based reporting, and processes $7 billion in annualized card volume and services a total merchant portfolio of 20,000. To learn more, visit www.clearent.com or call 866.205.4721.