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REPAY Announces Strategic Partnership with Veem

REPAY | September 24, 2021

Repay Holdings Corporation, a leading provider of vertically integrated payment solutions, today announced it has entered into a commercial partnership agreement with Veem to expand each party’s B2B payment capabilities. With the agreement, REPAY will expand its ability to deliver cross-border payment options, and Veem will broaden its capabilities by leveraging REPAY’s core B2B virtual card and acquiring technology.

In addition to the commercial relationship between REPAY and Veem, REPAY has made a minority equity investment in Veem to provide additional support for Veem’s go-forward growth. The investment was financed with cash on hand and pro forma net leverage is expected to remain at the current level of approximately 2.8x.

“This mutually beneficial commercial agreement and investment strengthens our relationship with a strategic and long term B2B partner,” said Darin Horrocks, EVP of REPAY’s B2B business. “We are excited to partner with the Veem team to offer our clients a more robust B2B offering, with the help of Veem’s cross-border technology. This should help us unlock more of the massive global B2B payments market, which is estimated at approximately $125 trillion today and anticipated to grow to $200 trillion over the next decade. Additionally, REPAY will enhance Veem’s offering by providing Veem customers with access to REPAY’s issuing technology and virtual payment capabilities. With our companies now strategically aligned, we expect this to be the beginning of a long and successful partnership.”

“This partnership with REPAY will empower business users to conduct globalized business transactions with ease and convenience,” said Bimal Shah, Head of Corporate Development for Veem. “Merchants today demand fast, reliable and secure payments. To meet these needs, we’re excited to join forces and give REPAY users access to our digital payment offerings. The digital payments revolution is in full swing and we are thrilled to complement our existing transnational technology products with REPAY.”

About Veem
Founded in 2014, Veem is an accounts receivable and accounts payable automation provider serving small and medium-sized businesses. Veem offers a wide variety of services, including invoice automation, reconciliation, approvals, and B2B payments, enabling its customers to seamlessly make and receive payments both domestically and cross-border. Veem’s client base includes over 300k customers located in 110+ countries. In addition to REPAY, Veem is supported by an impressive list of financial and strategic equity investors, including but not limited to, Kleiner Perkins, Google Ventures, and Truist Ventures.

About REPAY
REPAY provides integrated payment processing solutions to verticals that have specific transaction processing needs. REPAY's proprietary, integrated payment technology platform reduces the complexity of electronic payments for merchants, while enhancing the overall experience for consumers and businesses.

Spotlight

Sicredi, cooperative financial institution, is an international reference for system performance model. Are 121 affiliated credit unions, which operate with a service network with more than 1,501 points. The structure also has four Regional Centers - shareholders of Sicredi Participações SA a Confederation, a foundation and a Cooperative Bank and its subsidiaries. All these entities together form Sicredi and adopt a single operating standard. The system performance enables economies of scale and increases the potential of credit unions to engage in the activity in a market in which are present large financial conglomerates. Made by people for people, Sicredi has the distinction of a management model that values ​​participation. The more than 3.3 million members vote and decide on the course of your credit union.

Spotlight

Sicredi, cooperative financial institution, is an international reference for system performance model. Are 121 affiliated credit unions, which operate with a service network with more than 1,501 points. The structure also has four Regional Centers - shareholders of Sicredi Participações SA a Confederation, a foundation and a Cooperative Bank and its subsidiaries. All these entities together form Sicredi and adopt a single operating standard. The system performance enables economies of scale and increases the potential of credit unions to engage in the activity in a market in which are present large financial conglomerates. Made by people for people, Sicredi has the distinction of a management model that values ​​participation. The more than 3.3 million members vote and decide on the course of your credit union.

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