InterCept, a developer of various information technology services for financial institutions, has received a $10 million cash infusion from The Sprout Group.

In exchange, the investors receive Series A preferred stock, covertible to common stock at a price of $13.97 a share. The stock also will receive dividends of 5 percent a year through March of 2004, 4 percent the following year and 3 percent per year after 2005.

Intercept (Nasdaq: ICPT) stock closed at $13.29 on Wednesday.

The company provides data processing, check processing and imaging, ATM and debit card processing, communications management and other services.

The Sprout Group is one of the larger venture capital and investment firms in the United States, managing $3 billion in capital. It is based in New York.

“We are very pleased that an organization with Sprout’s reputation has exhibited confidence in the company by investing at a premium to the current market price of our stock,” said John Collins, InterCept’s chairman and chief executive officer, in a statement. “These funds will give us greater financial flexibility to extend our plans for future growth. Sprout’s ability to recognize market leaders is well known and I am very gratified by this investment.”

As part of the investment, Bob Finzi, a general partner in Sprout Group, joins Intercept’s board.

Intercept: www.intercept.net