BCB Group announced partnership with Circle Internet Financial Ltd

Cision PR Newswire | August 07, 2020

BCB Group, the global digital asset financial services group, and Circle Internet Financial Ltd., a leading global financial technology firm, today announced a partnership that will see BCB implementing the full range of Circle platform functionality to improve the speed, efficiency and cost of client payments and settlement across select parts of BCB Group. This furthers BCB's commitment to being the leading and quickest fiat on/off ramp for rapid USD Coin (USDC) entry/exit in Europe, augmented and enabled by the BCB Business Accounts service. The partnership announced today will enable BCB's institutional clients to use USDC for payments, clearing and custody, helping to mitigate negative rate risk for its customers' European exposure.

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INVESTMENT MANAGEMENT

Mastercard Unveils Next-Generation Virtual Card Solution for Instant B2B Payments

Mastercard | January 24, 2022

Mastercard today announced the launch of Mastercard TrackTM Instant Pay, a next-generation virtual card solution that uses machine learning and straight-through processing to enable instant payment of supplier invoices. Integrated with Mastercard Track Business Payment Service, Mastercard’s open-loop B2B network, the new, first-of-its-kind virtual card solution delivers greater choice, efficiency and automation for buyers and suppliers to help streamline and speed business payments. Slow and inefficient payment processes continue to create challenges for businesses. Lengthy payment terms and late invoice payments impact cash flow for suppliers, while manual invoice approval and check processing is costly and time consuming for buyers. Other payment methods, like ACH, require buyers to safeguard sensitive bank account information, adding another layer of complexity. Research shows a growing demand from businesses to automate supplier payments with virtual cards, but existing solutions aren’t meeting these needs, with 90% of virtual card transactions still being processed manually1. Mastercard Track Instant Pay is the first virtual card solution that can safely and intelligently authorize an immediate payment to a supplier once they submit an invoice. The solution uses sophisticated machine learning to analyze invoices and identify those likely to be rejected, enabling the rest to be authorized for payment on the same day they’re received. Using straight-through processing, digital payments are sent directly and securely to a supplier’s bank account via a Mastercard virtual card, with no manual intervention required. Delayed payments create significant challenges for businesses financially and operationally, especially in today’s environment. New Payment Flows, North America at Mastercard. “Track Instant Pay helps solve these pain points by enabling buyers and suppliers to automate their manual payment processes, unlocking valuable time, working capital and choice. This innovative new solution is the latest step in our ongoing commitment to support multiple payment rails and mission to modernize B2B payments.” Ron Shultz, executive vice president Mastercard Track Instant Pay combines machine learning capabilities from Previse, an artificial intelligence and data science company, with Mastercard’s core commercial solutions and global payment network to transform how businesses send and receive payments. The solution is part of Mastercard’s comprehensive suite of B2B products and services designed to reduce complexity and risk, cut costs, and automate processes for businesses around the world. About Mastercard Mastercard is a global technology company in the payments industry. Our mission is to connect and power an inclusive, digital economy that benefits everyone, everywhere by making transactions safe, simple, smart, and accessible. Using secure data and networks, partnerships and passion, our innovations and solutions help individuals, financial institutions, governments, and businesses realize their greatest potential. Our decency quotient, or DQ, drives our culture and everything we do inside and outside of our company. With connections across more than 210 countries and territories, we are building a sustainable world that unlocks priceless possibilities for all.

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INVESTMENTS

Wealthbox Announces $31 Million Equity Investment from Frontier Growth

Wealthbox | March 10, 2022

Wealthbox, a leading CRM software platform for financial advisors, announced today that Frontier Growth, a growth equity firm focused on fast-growing software businesses, has taken a minority stake in the company with a $31M equity investment. Founded by serial entrepreneurs John Rourke and Dan Ferranti, Wealthbox is a purpose-built CRM technology for financial advisors at wealth management firms and broker-dealers to track client relationships, collaborate as a team, and streamline operations. Launched in 2014, Wealthbox is known for its modern product design, powerful features, and intuitive user experience and is now integrated with leading custodial platforms and wealth-tech products. Frontier Growth has an amazing track record in helping rapidly growing companies scale even faster, and we're delighted to partner with them in our Series B round of financing, The investment capital for Wealthbox will allow us to accelerate product development and innovation so we can continue providing best-in-class CRM and related software solutions for financial advisory firms of all sizes." John Rourke, CEO of Wealthbox. Wealthbox's talented team, impressive growth rate, and excellent business metrics are a great fit for the added support, expertise, and funding we offer, We look forward to the partnership with the Wealthbox team to help financial advisory firms better operate their businesses with Wealthbox as their hub software." Richard Maclean, Managing Partner and cofounder of Frontier Growth. As part of the transaction, Richard Maclean and Matt Williams of Frontier Growth will join John Rourke and Dan Ferranti on Wealthbox's board of directors. Prior to the transaction, Starburst Labs, the parent company of Wealthbox, spun out Wealthbase, a social trading app for retail investors, which is now operating as its own separate company. Wealthbox is now the sole property of Starburst Labs, Inc. About Wealthbox Wealthbox operates as a remote-first company with employees located across the United States, and a large part of the team is located in Rhode Island. The Wealthbox CRM technology is purpose-built for the wealth management industry vertical and designed for financial professionals at advisory firms and broker-dealers to manage client relationships and streamline operations to grow their practices. About Frontier Growth Frontier Growth supports the growth of software companies that have $5M to $30M in revenue by deploying both investment capital and operational expertise. The firm was founded with a culture that puts People Before Numbers, because it's people that lead to real growth. With over 20 years' experience, over $1.5B in AUM, and actively investing its fifth fund, Frontier respects that each of their companies represents someone's life's work. It's why the firm's explicit focus is to help them grow without stifling the innovation that's made them successful.

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PAYMENTS

Versapay Acquires Leading Cash Application Fintech Company DadeSystems

Versapay | April 20, 2022

Versapay, the leader in Collaborative Accounts Receivable, announced today it has completed its acquisition of U.S.-based fintech company DadeSystems. The acquisition broadens Versapay's suite of accounts receivable (AR) automation solutions and expands its AI and machine learning capabilities. It also expands the company's enterprise and mid-market footprint while adding key talent to the growing Versapay team. We are very excited to welcome DadeSystems' employees, customers, and partners to Versapay, Versapay and DadeSystems have enjoyed a successful partnership for some time, and most importantly we share a common vision for the digitization of the AR process. Together, we can accomplish even more to close the digital transformation gap in AR, optimizing our clients' cash flow and driving operational efficiencies." Craig O'Neill, CEO, Versapay. DadeSystems has been a long-term technology partner of Versapay. The company's flagship DadePay cash application software automates one of the most challenging parts of AR by streamlining the receipt, matching, and reconciliation of payments no matter how they are received, and is already embedded in Versapay's cloud-based, automated AR platform. Now, all DadeSystems solutions, including mobile offerings, will be available to Versapay's clients and partners. By adding DadePay solutions to Versapay's Collaborative AR Network, enterprises can digitize and automate all their customer payments, including checks, bank-to-bank transfers, credit cards, and mobile payments. The combined company automates more than $60 billion in payment volume annually and has achieved rapid revenue growth in the past 12 months. DadeSystems investor, Ten Coves Capital, is rolling its stake into Great Hill Partners-backed Versapay, while both Great Hill Partners and Ten Coves Capital are contributing additional capital to fund the acquisition. This acquisition will give Versapay an unmatched, comprehensive suite of AR automation solutions, perfectly positioning the company to capture the growing market opportunities, We look forward to a successful partnership as these innovators come together to revolutionize the way accounts receivable teams work." Matt Vettel, Managing Director, Great Hill Partners. DadeSystems predominantly serves upper mid-market and enterprise customers, including two of the ten largest U.S. food distributors, two of the ten largest U.S. building materials and nine of the sixty-five largest U.S. banks in addition to being a technology provider for Wells Fargo's and Fifth Third's accounts receivable automation solutions. DadeSystems also brings important partners to Versapay, such as Fiserv, to support the company's rapid growth. We are thrilled to become part of Versapay, The accounts receivable function has been desperately in need of a workflow revolution. The cloud-based solutions that both our teams have introduced are making this happen. By joining forces, we will see even faster growth and a bigger impact on the industry's digital transformation." Bill Zayas, CEO, DadeSystems. The DadeSystems team will continue to operate in Miami and will be fully integrated with Versapay's North American teams. Alston & Bird LLP acted as legal advisor to Versapay. William Blair acted as exclusive financial advisor and Morris, Manning & Martin LLP acted as legal advisor to DadeSystems. About Versapay Versapay is the leader in Collaborative Accounts Receivable (AR). The Versapay Collaborative AR Network is the first solution that empowers the genius of teams by bridging the gap between suppliers and buyers through a shared, digital experience. Versapay's AR automation solutions and next-generation B2B payments network makes billing and payments easier for enterprises, increasing efficiencies, accelerating cash flow, and dramatically improving the customer experience. Versapay has offices in Toronto, Atlanta, London, Amsterdam, and Sydney, and is owned by Great Hill Partners, a Boston-based technology investment firm. About DadeSystems DadeSystems helps businesses unlock the possibilities of smarter AR. Today's AR teams are challenged by complex business payment processes. The DadePay suite of integrated AR automation solutions can quickly solve finance leaders' most pressing AR challenge—manual cash application. With an easy implementation, straight-through cash posting rates of 90%+, and award-winning mobile capabilities, DadePay is used by hundreds of businesses across industries to receive, match, and apply any payment from any channel. AR teams gain efficiencies that drive scalability, reduce payment processing costs, improve customer payment experiences, and provide faster access to cash. Seven of the top sixty-five North American financial institutions deliver the market-leading DadePay solution to their corporate customers. About Great Hill Partners Great Hill Partners is a Boston-based private equity firm targeting investments of $25 million to $500 million in high-growth companies across the software, digital commerce, financial technology, healthcare, and digital infrastructure sectors. Over the past two decades, Great Hill has raised over $12 billion of commitments and invested in more than 90 companies, establishing an extensive track record of building long-term partnerships with entrepreneurs and providing flexible resources to help middle-market companies scale. Great Hill has recently been recognized for its industry leadership, being ranked #5 in the 2021 HEC - DowJones Private Equity Performance Ranking, which evaluated fund performance of 517 leading private equity firms between 2008 – 2017.

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PAYMENTS

Paystone Acquires Canadian Payment Services, Making Paystone Canada’s Largest Bank Independent Payments Provider

Paystone | January 27, 2022

Paystone announces the acquisition of Canadian Payment Services (CPS), one of the fastest growing providers of Canadian merchant services. This acquisition is the sixth addition to Paystone’s burgeoning portfolio of acquisitions, having acquired five other businesses in the past two years including Montreal-based DataCandy and Vancouver-based NiceJob. “This is the largest acquisition we’ve made to date in relation to both new revenue and clients,” explains Tarique Al-Ansari, CEO at Paystone. “Additionally, we’re also excited to provide additional value to CPS merchants through Paystone’s proprietary product and service offerings.” In addition to providing payment processing services, Paystone offers a wide range of SaaS products including gift and loyalty, reputation marketing, and marketing automation. Over the years, Paystone has shown their great commitment to serve Canadian small and medium sized businesses. We are happy to turn our customer base to Paystone so they can continue to receive the highest level of customer care as well as be able to grow their business via new value added products proprietary to Paystone.” Simon Lobanov, Managing Director at CPS. With the acquisition of CPS, Paystone now services over 35,000 locations across Canada and the United States which collectively process over 10 billion dollars a year in bankcard volume. As Paystone continues to aggressively grow in service, offering, and revenue, the business is looking to add over 100 new employees by the end of 2022. About Paystone Paystone is a leading North American payment and software company redefining the way merchants engage their customers and grow their businesses. The company's seamlessly integrated suite of automated payment processing, customer loyalty, gift card solutions, and now reputation marketing, is used by brands such as Irving Oil, The Source, Global Pet Foods, Kernels Popcorn, and many of the MTY Food Group's restaurant brands. Paystone's solutions are used at over 35,000 locations across Canada and the United States which collectively process over 10 billion dollars a year in bankcard volume. The fintech company employs over 150 employees and serves as the technology partner of choice for hundreds of partners across North America. About Canadian Payment Services Canadian Payment Services (CPS) is one of the fastest growing providers of Canadian merchant services, which includes Credit Card and Interac Processing, Gift Card and Loyalty Programs, and Business Cash Advance. With over 55 years of combined experience in the merchant services industry, CPS has served over 10,000 merchants.

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This presentation contains forward-looking statements within the meaning of U.S. securities laws, including statements about our goals and expectations regarding our business, financial and capital condition, results of operations, investment portfolio performance and strategies, financial portfolio performance, dividend and stock purchase programs, expected outcomes of legal proceedings, market growth, acquisitions, joint ventures andivestitures and new technologies, services and opportunities, as well as regarding industry, regulatory, economic and market trends, initiatives and developments, the business environment and other.

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