FinovateSpring 2009 / The Receivables Exchange
Presenter Profile:
How they describe themselves: The Receivables Exchange connects Buyers and Sellers in a real-time auction marketplace to buy and sell accounts receivable. We were founded on the belief that, with 60% of working capital tied up in outstanding invoices, businesses should have greater access to capital. Small and mid-sized companies (Sellers) can easily monetize their receivables by posting them to be bid on in real-time by a network of accredited capital providers (Buyers). By selling their receivables in an open and competitive marketplace, Sellers can drive down cash conversion cycles, reduce their cost of capital and increase their working capital and liquidity.
What they think makes them better: The Receivables Exchange is the world’s first centralized electronic marketplace for the buying and selling of accounts receivables. There is no other electronic exchange.
Contacts:
Bus. Dev.: Barbara Brandfass, 504-708-4171, barbara@receivablesxchange.com
Sales: Dana Stetson, 504-708-4156, dana@receivablesxchange.com
Press: Laurie Azzano, 415-786-3317, laurie@receivablesxchange.com
Website: www.receivablesxchange.com
HQ Location: New Orleans, Louisiana
Company Founded: April 2007
Product Being Demoed: Accounts Receivables Online Auction Marketplace
Product Launched: November 2008
Metrics: $7.75M Series B, millions traded 1st 4 weeks, 200+ Sellers, Avg. rev of sellers: $40 million, Avg. auction size: $50k, Buyout Price: 88%, Repeat sellers: 80%, Auctions completed: 96%, month-over-month growth: 106%
- Key Executives
Justin Brownhill (Co-founder & CEO), Nic Perkin (Co-founder & President)
Key Stats
- Key Board Members
Edward Bishop (Founder, Kestrel Technologies) Robert Zadek (Partner, Buchalter, Nemer, Fields & Younger), Dr. Alvin Roth (Harvard Business School), George Gund (Professor of Economics & Business Administration), Dr. Geoffrey Parker (Associate Professor of Economic Sciences, A.B. Freeman School of Business, Tulane University), Tim Skillman (Principal, Grant Thorton, LLP)
- Key Advisory Board Members
Edward Bishop (Founder, Kestrel Technologies) Robert Zadek (Partner, Buchalter, Nemer, Fields & Younger), Dr. Alvin Roth (Harvard Business School), George Gund (Professor of Economics & Business Administration), Dr. Geoffrey Parker (Associate Professor of Economic Sciences, A.B. Freeman School of Business, Tulane University), Tim Skillman (Principal, Grant Thorton, LLP)
- Key Investors
Redpoint Ventures, Prism VentureWorks, Fidelity Ventures
- Key Partnerships
Ariba, InfoAccess
- Key Customers
Sellers: 200+ small and mid-sized businesses; 25+ Buyers