Institutional Investor Magazine Names The Receivables Exchange One of the 40 Most Innovative Financial Technology Companies of 2010

The Receivables Exchange, the world’s first online marketplace for real-time trading of accounts receivable, announced today that it was named to Institutional Investor magazine’s 2010 “Tech 40” list, which recognizes the most important innovators in financial technology. The company is ranked alongside some of the world’s largest financial services companies, including JPMorgan Chase, Credit Suisse, Bank of America and Citigroup. The Exchange delivers efficient access to capital through standardization, transparency, centralization and competition.

The Receivables Exchange is transforming the business financing landscape by allowing small and midsize companies to sell their receivables to institutional investors, who compete in real time to purchase the receivables for 98 to 99 cents on the dollar, on average. The competitive auction format drives down the cost of capital for Sellers and allows them to gain access to a flexible, affordable funding source. For institutional investors, the Exchange allows Buyers to diversify their portfolio by investing in a new $17 trillion U.S. receivables market. In the first half of 2010, receivables trading volume on the Exchange grew by more than 200%.

Justin Brownhill and Nicolas Perkin were honored as co-founders of The Receivables Exchange for their vision and innovation in financial services. The 2010 “Tech 40” list recognizes the top executives and innovators in financial technology according to four sets of attributes: experience and contributions over the course of a career, scope and complexity of responsibilities, influence and leadership inside and outside one’s organization, and pure technological achievement. The Receivables Exchange has been called a financial game-changer by many industry experts, and was recently cited in a Morgan Stanley B2B finance report as a new capital marketplace to help companies optimize their financial performance.

“We are honored to be recognized alongside such a distinguished group of industry leaders by one of the country’s top finance publications,” said Justin Brownhill, co-founder and chief executive officer of the Exchange. “We started this company because we felt businesses had a tremendous need for a faster, better way to access capital and fund growth. Since launch, we’ve been fortunate to help thousands of small and midsize companies trade hundreds of millions of dollars in receivables, proving to us that an open, efficient marketplace for receivables can transform the way companies fund growth.”

Read what Institutional Investor had to say about The Receivables Exchange’s innovative capital management solution, and click here for the full “Tech 40” list.