When ShowIt, a popular website builder for creative professionals, wanted to acquire another technology firm called Sumo, they knew they had to find the right lending partner to help make their dream a reality. 

The service-based business didn’t have hard assets, posing a challenge for qualifying for a loan. Fortunately, Co-Founder and CEO Todd Watson found a solution in Gateway Bank. After meeting the team and learning about their flexibility and creativity with acquisition loans, Watson engaged with Gateway, purchased Sumo, and started planning their next chapter.  

Rebranded as Formilytics, the new company already has big dreams to become the most robust lead generation platform available. They have transferred all of their accounts and look forward to growing with Gateway.

Working on growing your business or acquiring another company? Connect with our team to learn how to get fast funding, convenient banking solutions, and the personal service you’ve been missing.