Stone-Goff Partners Portfolio Company FS Vector Acquires Licensing Assets of APPROVED

Stone-Goff Partners Portfolio Company FS Vector Acquires Licensing Assets of APPROVED

Jeremy Milner
BackBay Communications
(401) 862-9422
jeremy.milner@backbaycommunications.com

Stone-Goff Partners (“SGP”), a growth-focused private equity firm specializing in tech-enabled B2B service companies, today announced that its portfolio company, FS Vector (“FSV”), has acquired APPROVED Licensing (“APPROVED”), a technology-enabled licensing platform in the financial services industry. The acquisition of APPROVED builds on FSV’s existing licensing and chartering services with the goal of enabling clients to continue to launch new products and serve more companies with speed and compliance.

This strategic acquisition integrates FSV’s regulatory, compliance, and policy expertise with APPROVED’s robust licensing automation technology and domain knowledge into a leading reg-tech solutions platform, positioning the combined company for accelerated growth and profitability.

“The addition of APPROVED marks a pivotal milestone in FS Vector’s accelerated growth strategy of combining both technology/software and professional services,” said Hannah Stone Craven, Co-Founder and Managing Partner of Stone-Goff Partners. “The leadership team at FSV has consistently demonstrated a commitment to innovation, practical solutions, and client service, and we are confident this combination will drive exceptional outcomes for clients.”

Headquartered in Washington, D.C., FS Vector was founded by seasoned industry and regulatory experts. The firm combines deep domain expertise and technology with strong relationships with policymakers to deliver comprehensive advisory and advocacy solutions that help clients navigate complex regulatory and compliance landscapes.

“We’re thrilled to welcome APPROVED to the FS Vector family,” said John Beccia, Co-Founder and CEO of FS Vector. “This acquisition strengthens our market position and immediately broadens the range of products and services available to both existing and future clients. Growth and innovation have been at the core of FSV’s strategy since its inception and APPROVED aligns perfectly with our mission.”

“Joining forces with FS Vector represents an exciting new chapter for the company, allowing us to combine our innovative licensing solutions with FSV’s extensive resources and expertise,” said Tim Lange, CEO of APPROVED. “Together, we’re well-positioned to deepen our impact and deliver even greater value to our clients.”

The combination of FSV and APPROVED results in a leading reg-tech solutions platform with 70 employees serving over 100 clients across the innovative financial services ecosystem.

Fredrikson & Byron, P.A. provided legal counsel for FS Vector and Stone-Goff Partners. Debt financing for the transaction was provided by Capital Southwest Corporation.

About Stone-Goff Partners
Stone-Goff Partners is a lower middle market private equity firm investing in technology-driven business-to-business service companies. Our companies combine service offerings with technology, focus on clearly defined end markets, and are active participants in the growing knowledge economy. Core verticals include business services, consulting services, marketing services, IT services, human capital and training, and outsourced services. We partner with company founders and executive leadership teams to provide capital, M&A origination and execution, and value-creation expertise to our portfolio companies. Since the firm’s founding in 2010, Stone-Goff’s sector knowledge and deal experience has helped drive successful outcomes for company founders, limited partners, and portfolio management teams. For more information about Stone-Goff Partners, please visit stonegoff.com.

About FS Vector
Founded in 2018, FS Vector is a strategic consulting and regulatory technology firm that delivers a range of advisory and advocacy solutions to fintech clients, including business strategy, regulatory, compliance, licensing, training, technology, government relations, and public policy matters. The Company's employees are driving mission-critical outcomes for clients across the innovative financial services ecosystem such as lending & payments, decentralized finance, business services, digital banking, trade associations, and personal finance. FS Vector is headquartered in Washington, DC. For more information about FS Vector, please visit fsvector.com.

About APPROVED Licensing
Founded in 2018, APPROVED Licensing is a leading licensing technology and service provider. The Company's suite of comprehensive offerings streamlines the complex process of acquiring and maintaining regulatory licenses, providing efficient, compliant, and scalable solutions. APPROVED's software simplifies workflows, reduces administrative burdens, and enhances transparency for clients navigating dynamic licensing requirements. The team supports a diverse range of clients, including those in fintech, banking, and payments, ensuring they meet regulatory obligations with confidence.

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