Lincoln-based venture capital fund Nebraska Global earlier this month announced it has closed its third investment by adding Estate Creditor Claims Clearing House (EC3H) to its partner company portfolio.
EC3H, also based in Lincoln, was established in 2009. The company provides an automated solution for processing deceased debtor accounts on behalf of creditors throughout the United States. Nebraska Global’s $1.5 million investment in EC3H includes technical resources to help the company accelerate its growth and market penetration with the needed scale and technical disciplines.
“The investment in EC3H represents a strategic addition to our family of portfolio companies and fits nicely where we love to operate, leveraging technology to solve complex problems to generate real value for our customers,” Nebraska Global COO Patrick Smith (left, photo from nebraskaglobal.com) said in a release. “The EC3H team has identified a great niche and we look forward to contributing to their success.”
According to the same release, major creditors issue more than $5.5 trillion in debt every year, with a portion of that debt remaining unpaid upon death. EC3H’s platform enables creditors to offload that burden in order to maximize recovered amounts and focus on their core business.
Thanks to our sponsor
“On behalf of my partners at EC3H, we want to thank Nebraska Global for their commitment to help grow this business and keep technology jobs here in Nebraska,” EC3H co-founder Tony Reiling said in the release. “We believe the combination of talent and experience from both companies positions EC3H to dominate this industry for many years to come.”
Nebraska Global was established last year with the goal of launching and funding at least 10 companies in five years. Prior to the EC3H investment, Nebraska Global launched Don’t Panic Labs and ICORA.
