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Debit card company to remain in Nashville


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Updated

EFT Source Inc., a Nashville-based company that customizes and distributes debit cards for financial institutions, will remain in Nashville thanks to a partnership with Nashville private investment firm Gen Cap America Inc. Gen Cap arranged $5.5 million in equity and debt to buy out three shareholders in the company. The fourth shareholder, EFT president and CEO William Dinker, will remain and own a portion of EFT. EFT, which has a growth rate of 50 percent per year during the past five years, had 1998 sales of $9.3 million, and has 100 employees.