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By Nikki Cabus

Citi Ventures Backs Capstack Technologies, the First Integrated Bank-to-Bank Loan Marketplace

Read Time 3 Minutes

Miami-based Capstack Technologies has secured a $6 million strategic investment from Citi Ventures, marking a significant milestone in its mission to revolutionize banking technology.

Capstack Technologies is building the first integrated bank-to-bank loan marketplace, enabling cooperation across banks and financial services institutions to increase profitability and mitigate risk through asset diversification. The company, founded by Pipe co-founder Michal Cieplinski, is dedicated to building a sophisticated infrastructure to redefine banking operations, enhance risk management, and deliver cutting-edge solutions for small and medium-sized banks. Capstack Technologies is backed by world-class investors, including Citi Ventures, Fin Capital, Alloy Labs, Cambrian Ventures, Cowboy Ventures, Future Perfect Ventures, Gaingels, Selah Ventures, Uncorrelated Ventures and Valor Equity Partners.

Amidst a challenging investment climate, this $6 million in funding is a testament to Capstack Technologies’ innovation following their successful $6 million fundraising last summer. This investment coincides with establishing a high-profile advisory board and adding experienced executives from community and regional banks, propelling Capstack Technologies into a new era of growth and market leadership.

“Citi Ventures is committed to investing in companies that have the potential to drive our industry forward,” said Jeff Flynn, Director, Citi Ventures. “Capstack Technologies’ innovative approach could fundamentally change the way smaller banks manage risk and grow their businesses, and ultimately could create opportunities for Citi to engage differently with this sizable segment of the financial services ecosystem.”

Capstack Technologies is leading the way with its “first bank-to-bank marketplace,” promoting transparency, collaboration, and efficiency among small and medium-sized banks. This initiative aligns with the U.S. financial sector’s imperative to reduce concentration risk, as highlighted by such risks in Silicon Valley Bank and other failed banks. Notably, the U.S. was home to 4,123 community and regional banks in 2023, comprising nearly 97% of all banks and collectively overseeing assets valued at $3.4 trillion.

“Securing this strategic investment from Citi Ventures, forming a distinguished advisory board, and welcoming experienced executives from community and regional banks collectively mark a pivotal moment for Capstack Technologies,” stated Michal Cieplinski, CEO of Capstack Technologies. “These milestones validate our vision and accelerate our mission to revolutionize banking technology for the community.”

Formation of the Advisory Board

Capstack Technologies has formed an advisory board comprising industry veterans Trey Maust, Chairman of Lewis & Clark Bancorp, Patrick Kennedy, Executive Chairman of TransPecos Banks and Dub Sutherland of Kennedy Sutherland LLP. These advisors bring a wealth of experience in banking, law, and financial technologies, guiding Capstack Technologies’ strategic direction in the banking sector.

“As a member of the advisory board for Capstack Technologies, I am deeply impressed by the caliber of talent and expertise we have assembled to guide this groundbreaking technology,” expressed Kennedy. “Having the right people involved is crucial in steering such innovative solutions. The experiences and insights our team brings are essential in shaping a technology that has the potential to redefine the banking sector.”

New Executives

Capstack Technologies is also bolstering its leadership team with David McArdle as Head of Banking Relationships and Randy Riffle as Head of Customer & Platform Operations. McArdle, with his extensive experience in banking and fintech, will focus on streamlining processes for C-suite executives in community banks. With his extensive credit and lending background, Riffle will lead the charge in transforming operational efficiencies and focusing on positive customer experiences.

“To contribute to an organization at the forefront of such a transformative movement within the banking sector is inspiring,” said Riffle. “The advent of this technology epitomizes the requirement of all bank sizes to create efficiencies in the participation and whole loan marketplace model.”

“This moment is pivotal for Capstack Technologies, as we’ve successfully secured strategic funding from Citi Ventures, assembled a formidable advisory board, and significantly enhanced our leadership team,” concludes Cieplinski. “These steps are a clear testament to our unwavering commitment to innovation and underscore our growing significance in the current investment climate. We are not just making strides but setting new standards in the banking technology sector.”

To learn more about Capstack Technologies, visit

By Nikki Cabus

Social Mobile Secures $35 Million Credit Facility from Citi®

Read Time 3 Minutes

Social Mobile is pleased to announce that it has secured a $35 million senior credit facility from Citi.

Social Mobile is a mobility solutions provider focused on providing services critical to organizations looking to deploy and/or bring to market innovative mobile products. They design, engineer, and manufacture turnkey solutions that enable clients to bring smart devices to market quickly and efficiently, while also taking the burden of deploying and supporting these devices off their plate.

“Social Mobile has never received outside capital to grow its business until now. This credit facility from Citi is a significant milestone for our company,” said Benjamin Yogel, Chief Financial Officer of Social Mobile. “It will allow us to accelerate our growth plans and put us in a position to enter the M&A space that will further strengthen our market position.”

Already a major player in the enterprise mobility space, Social Mobile has over 11 million users worldwide in Europe, USA, Canada, Africa, and Latin America. They have developed custom mobile devices and mobility solutions servicing a wide range of industries from healthcare and retail, to government and non-profits and include clients such as DoorDash, Uber Eats, the U.S. Air Force, and more.

Social Mobile is approximately 1 of only 100 a Google Mobile Services (GMS) partners, offering new and innovative ways to leverage the Android operating system that have enabled them to pioneer new products and solutions that many have never seen or considered possible. Recognizing the power and flexibility of the Android OS, they supercharge it by creating solutions dedicated to the unique and challenging environments in which their clients operate, and offer the option to use their proprietary mobile device management system.

Through Social Mobile’s work as an OEM, managed service provider, and consultancy, Social Mobile has become the industry’s best aggregator of resources, helping clients control their own destiny for over a decade. Some of the company’s strategic partners are android, Google, AT&T, Honeywell, and Tech Mahindra, among others.

CEO, Robert Morcos, founded Social Mobile in 2011. A Floridian at heart, Robert grew up in Miami, attended Florida State University on an academic scholarship, and now headquartered Social Mobile in Hollywood, FL. Robert has been involved in every aspect of the business, including manufacturing, design, development, retail, distribution, and consulting.

The drastic growth of the company over the last decade has allowed Robert to hire some pretty impressive new leadership including President, Ed Shulman, CTO Mike Burr and and recent hire, Jai Rao, Social Mobile’s Chief Engineering Officer, who has worked with several multinational OEMs launching world-class products.

He has also attracted new Advisory Council members such as Douglas Smith, who previously was appointed by President Barack Obama to serve as the Assistant Secretary for the Private Sector at the U.S. Department of Homeland Security (DHS). Both Jai and Douglas are key to Social Mobile’s strategic growth; Jai from a product design and development perspective and Douglas from a policy/government relations perspective.

Social Mobile’s funding announcement comes at a time when headlines are dominated by layoffs in the technology industry, and a looming recession and reduced spending by businesses on both talent and IT are under scrutiny. Social Mobile leadership has ensured that the company is in a strong position both financially and strategically to continue its growth into the future.

Citi is a preeminent banking partner for institutions with cross-border needs, a global leader in wealth management and a valued personal bank in its home market of the United States. Citi does business in nearly 160 countries and jurisdictions, providing corporations, governments, investors, institutions and individuals with a broad range of financial products and services.

The company also recently launched Social Mobile ONE, a DaaS offer combining its hardware, software, managed services, and wireless connectivity solutions into a monthly, per device subscription. With IT budgets under increased tightening and a looming recession, enterprises can benefit from an OpEx based model and still secure mobile devices for their business without heavy capital expenditure.

Citi Ventures Backs Capstack Technologies, the First Integrated Bank-to-Bank Loan Marketplace
Social Mobile Secures $35 Million Credit Facility from Citi®