The Receivables Exchange CEO named to “Silicon Alley” List for 2010
The Receivables Exchange, the world’s first online marketplace for real-time trading of accounts receivable, announced today that Co-Founder and CEO Justin Brownhill was named one of Silicon Alley Insider’s “Silicon Alley 100,” a listing of New York’s “Coolest Tech People in 2010.” This award recognizes New York’s leading influencers, thinkers and digital innovators, among them New York City Mayor and digital entrepreneur (Bloomberg LP) Michael Bloomberg, AOL CEO and Chairman Tim Armstrong, and Huffington Post Co-Founder, Editor-in-Chief, CEO and President Arianna Huffington.
In selecting Mr. Brownhill, Silicon Alley Insider editors recognized his visionary leadership in transforming the centuries-old receivables finance marketplace into a mainstream financing solution, giving millions of businesses a more affordable market-based working capital solution. Silicon Alley Insider, the digital business division of the Business Insider, is the latest in a line of prominent news outlets to honor The Receivables Exchange. The Wall Street Journal recognized The Receivables Exchange in September for opening up a $17 trillion marketplace and solving one of the greatest challenges of most businesses, cash flow, by giving the company its Technology Innovation Award for 2010 as the most innovative e-commerce company in the world.
“It is a tremendous honor to be named to such an esteemed list of the Silicon Alley elite,” said Mr. Brownhill in response to his selection. “I am particularly pleased to be listed among this group of innovators who are using technology to help change the world, and I am proud to share this recognition with my co-founder, Nic Perkin, and the rest of the Exchange team.”
Under Mr. Brownhill and Mr. Perkin’s leadership, The Receivables Exchange has experienced tremendous growth and continues to be recognized for its impact in the financial services sector. This past July, the Exchange was named to Institutional Investor magazine’s 2010 “Tech 40” list, and Mr. Brownhill was selected a Regional Finalist for the Ernst & Young “Entrepreneur of the Year” Award and a National Finalist for the American Business Awards. In August, the company announced that trading volume on its market-based platform increased 300% YTD as of July 31.
Since its launch in 2008, the Exchange has quickly become one of the most attractive financing options for small and midsize businesses seeking flexible, affordable sources of capital. Earlier this month, the Exchange launched a Commercial Receivables Paper Market, geared toward Fortune 1000 companies seeking a modern market-based working capital solution as an alternative to the more restrictive receivables securitization and commercial paper markets.