What is Data Systems?
Data Systems of Texas operates as the Southwest Partner for the Sharetec Credit Union System, providing comprehensive in-house and service bureau solutions to credit unions since 1982. The company's software is designed to offer cutting-edge technology, robust service and support, and reliable business continuity plans. Sharetec Systems, Inc., formed in 1993 through a partnership of four companies, aimed to develop a straightforward yet powerful data processing solution by sharing technology and resources. This collaborative model allows Sharetec to serve over 300 credit unions nationwide with its core system, leveraging the combined resources of its partners to employ over 250 individuals and generate more than $100 million in revenue.
How much funding has Data Systems raised?
Data Systems has raised a total of $350K across 1 funding round:
Debt
$350K
Debt (2020): $350K with participation from PPP
Key Investors in Data Systems
PPP
Public-Private Partnership
What's next for Data Systems?
The recent large-scale, late-stage funding indicates a strategic move by Data Systems to further scale its operations and enhance its technological offerings. This capital infusion is likely to fuel product development, expand market reach within the Southwest and potentially nationwide, and strengthen its partnership with the Sharetec Credit Union System. The company's focus on providing essential technology and support to credit unions suggests a trajectory aimed at solidifying its position as a key player in the financial technology landscape, particularly for regional credit unions seeking reliable and advanced core system solutions.
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