
Tech veteran Becker fights to save SteadyServ
A longtime tech leader has stepped in to try to turn around one of the most-ballyhooed startups in state history but one that has perennially underachieved and burned through $30 million in capital.
A longtime tech leader has stepped in to try to turn around one of the most-ballyhooed startups in state history but one that has perennially underachieved and burned through $30 million in capital.
The Fishers-based online bank says it will expand its presence in health care lending by agreeing to fund millions of dollars in loans for clients of the San Francisco-based startup. It also is taking a stake in the firm.
The Fishers-based online-only bank plans to use the new capital to support its growing loan business.
The bank said it plans to use the $23 million it raised to fund organic growth, possible acquisitions and other corporate purposes.
People who know David Becker say he has long been a visionary. Still, they were a bit surprised when he launched First Internet. Now, it’s one of the area’s fastest growing banks.
Shares of the Indianapolis-based bank took a nosedive during trading Friday morning after it reported its third-quarter earnings.
Shares of First Internet Bancorp have more than doubled since December, when founder and CEO David Becker boosted the visibility of the stock by announcing it was shifting from the over-the-counter market to NASDAQ.
First Internet Bancorp shares are up 105 percent for the year. Founder David Becker said the Indianapolis-based bank has been careful to be geographically diversified in its real estate holdings.
Economic development leaders in Fishers are asking the Town Council to OK a six-year property tax abatement to help First Internet Bancorp construct as many as two office buildings.
Good mentors can make a world of difference to up-and-coming entrepreneurs. Countless business owners find themselves in need of a gut check from time to time and, these days, mentors are an essential part of their toolkit.
Indiana regional banks and national institutions are faring better, a possible indication that Indianapolis’ economy isn’t recovering as quickly as expected.
The region’s blossoming technology sector is about to get another shot of financial fertilizer. The newly formed Allos
Ventures has raised $20 million from investors and plans to focus on early-stage tech companies.