Accounts Receivable Financing Accomplishments & Milestones at The Receivables Exchange
Accomplishments & Milestones - Business Financing
The Receivables Exchange was founded in April 2007 by Justin Brownhill and Nicolas Perkin. Since inception, the receivables trading company has continued to grow and receive numerous accolades:
February 27, 2010
Secured $17 million in Series C funding from Bain Capital Ventures.October 2009
Selected by New Orleans City Business as one of the “50 Best Places to Work for 2009” October 2009
Named by Fast Company as one of the “Eight Startups Brimming With Hope for the Financial Industry”September 22, 2009
Launched the Receivables Advisors Program (RAP)June 9, 2009
Named one of the Top Three for "Deal of the Year" by the Association of Trade and Forfaiting in the Americas (ATFA). May 27, 2009
Named the “2009 Best Web-based Supply Chain Financing Solution” by Global Finance magazine.April 8, 2009
New Data Shows Small and Mid-Sized Businesses Are Finding Access to Competitively Priced Capital Through Accounts Receivable Financing.February 26, 2009
The Receivables Exchange closes $7.75 million in Series B financing led by Redpoint Ventures with re-investment from Prism Ventureworks. January 12, 2009
InfoAccess.net Selects The Receivables Exchange to Provide Working Capital Management Solution to its Small and Mid-Sized Business Customers. >Learn MoreDecember 9, 2008
Announced partnership with Ariba, Inc., the leading spend management solutions provider. The companies joined forces to provide suppliers with access to competitively priced capital through a receivables auctioning solution accessed via the Ariba® Supplier Network™. >Read the Press ReleaseNovember 17, 2008
Live trading begins. The Receivables Exchange launches its proprietary, patent-pending trading platform to conduct live trading of accounts receivable. November 10, 2008
Welcomed Cedar Lane, a New York-based hedge fund, as a Buyer of entertainment receivables. November 4, 2008
Announced Charter Membership had Exceeded $2 Billion in Final Days of Program. >Read MoreOctober 27, 2008
Announced company’s flagship Vendor Finance Partnership with Bruce Foods Corp. As Vendor Finance Partner, Bruce Foods offers Receivables Exchange program that will provide Bruce Foods’ vendors and customers access to working capital via the sale of accounts receivable in the online auction. >Read MoreSeptember 10, 2008
Hosted the first private viewing of the TRE Trading Platform to a major Wall Street audience.September 8, 2008
Announced Charter Member program had surpassed more than $1 billion in accounts receivable turnover since commencing sales initiatives in May 2008.July 20, 2008
Selected as one of ‘Top 50 Entrepreneurial Companies” at the Eighth Annual New York Venture Summit.July 3, 2008
Joined the ranks of the Asset-Based Finance Associtation (ABFA).April 7,2008
Opened office in New York to support institutional investors; Atlanta office added in May.March 11, 2008
Joined the International Factors Group, the leading asset-based financing organization.November 26, 2007
Secured additional funding from Fidelity Ventures.October 15, 2007
Secured $4.2 million in Series A funding from Prism VentureWorks.October 11, 2007
Won the Louisiana Technology Council 2007 Award for “Technology Transfer Company of the Year.”April 2007
Founded in New Orleans by Justin Brownhill and Nicolas Perkin as the world’s first online marketplace for the trading of accounts receivable.
