Solutions by Text (SBT) offers conversational messaging tools and an embedded payments product that enable consumers to pay bills and respond to loan offers via text. The company supports use cases from marketing to past-due collections and claims carrier‑approved templates and provisioned short codes to address compliance. SBT recently expanded into embedded payments with a Nuvei partnership and its “FinText” product allowing responses such as “Pay Now.” The business shifted from a consumption model toward subscription and expects pure SaaS to comprise about 90% of revenue by year-end. Operational metrics cited by management include growth from roughly 20 million messages per month to 150–200 million, and a 95% year‑over‑year messaging increase in 2023; revenue has risen “more than 3x” since the 2021 growth round. The company is EBITDA positive and management says it is working toward profitability this year; planned uses for new capital include product development, R&D, M&A, and expanding AI offerings. Solutions by Text provides a compliance-first text messaging platform tailored to consumer financial services institutions. Its platform enables controls and management over regulatory and carrier communication policies, including compliance with FDCPA Regulation F. More than 1,400 consumer finance organizations use the service and the company reaches millions of consumers. Founded in 2008 and headquartered in Dallas, TX, SBT also maintains remote teams and offices around the U.S. and in Bangalore, India. The company historically bootstrapped growth under founders Danny and Mike Cantrell, who will remain in strategic customer-facing roles. With the newly appointed CEO David Baxter, SBT plans to use the $35M growth investment to accelerate adoption and extensibility of its compliant text-based solutions across the consumer finance lifecycle.

Total raised

$145M

Funding rounds

3

Latest round

Equity

Latest activity

May 2024