Financial Management, Fintech

Synapse Announces New Partnership with American Bank, Enabling Comprehensive Range of Digital Financial Solutions for Fintech Companies and Customers

Synapse Announces New Partnership with American Bank
Synapse Financial Technologies Inc., a banking-as-a-service (BaaS) platform that increases access to best-in-class financial products, today announced a partnership with American Bank, a community bank based in Le Mars, Iowa, to enable fintech companies to build and deliver innovative digital financial services to their customers.

“We are excited to announce that American Bank has joined our growing list of key banking partners powering our modular banking strategy, American Bank’s support will enable us to deliver on our commitment to provide fintech companies and enterprises with best-in-class solutions at unmatched speed and at the best terms. American Bank shares our entrepreneurial spirit and unwavering dedication to customer service, and we look forward to collaborating with them on new ways to deliver value to our collective customers.”

- Sankaet Pathak, CEO and co-founder of Synapse

With Synapse’s affiliate, Synapse Brokerage LLC as a regulated member of FINRA and SIPC, it is possible for the company to deliver modular banking – an infrastructure that sources specialized services across multiple bank partners to deliver these services collectively as a complete offering to all its fintech and enterprise customers. American Bank will serve as a sponsor bank to Synapse and its affiliates, providing core banking services such as FDIC deposit insurance, payment processing, and card issuance.

American Bank is pleased to embark on this journey to bolster our array of financial products with new digital solutions that will supplement the high-quality products we have delivered to our customers for over 25 years, As Banking-as-a-Service continues to become more commonplace, American Bank is committed to strengthening our digital banking capabilities to better position us for the long term and support our community now and well into the future. Synapse is best positioned as a partner to this goal, said Micah Lang, President and Trust Officer of American Bank.

About Synapse
Synapse was founded in 2014 with the mission to ensure that everyone around the world has access to best-in-class financial products, regardless of their net worth. Synapse’s banking-as-a-service platform provides payment, card issuance, deposit, lending, compliance, credit and investment products as APIs to more than 15 million end users. It has an annualized transaction volume of $67 billion and $11 billion of assets under management across its platform. With white-labeled APIs for developers and bank-facing APIs for institutions to automate their back-end operations, Synapse customers can quickly build, launch and scale innovative financial products and services. The company is backed by more than $50 million in funding from top venture firms, such as Andreessen Horowitz, 500 Startups, and Trinity Ventures. Global cash management services are provided by Synapse Brokerage LLC, a registered broker-dealer and member of FINRA and SIPC. Synapse is not a Bank. Banking and card services are provided by Synapse Financial Technologies Inc.’s partner banks, Members FDIC.

About American Bank
For over 25 years, American Bank has been a dedicated community member serving residents, nonprofits, farmers, and businesses throughout Northwest Iowa. Headquartered in Le Mars, IA with an additional office in Remsen, IA, American Bank continues to encourage growth for all the communities they serve. American Bank prioritizes relationship banking by putting their customers�� needs first and providing innovative solutions.

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Fintech

Renovus Capital Partners Announces Investment In Behavioral Framework

Renovus Capital Partners | January 05, 2024

Renovus Capital Partners announced an investment in Behavioral Framework, a leading provider of applied behavior analysis (ABA) therapy for children diagnosed with autism spectrum disorder (ASD). Framework was founded in 2017 in Rockville, Maryland by Angela West, with the mission of helping children diagnosed with autism and their families understand, improve, and lead functional, productive lives. Behavioral Framework's best-in-class clinical model leverages the scientific principles of ABA, a family-focused mindset, and an organization-wide commitment to excellence to unlock each child's potential. Pathways, a division of Behavioral Framework, provides autism diagnostic services. Behavioral Framework's dedicated team serves children and families across Maryland, Virginia, and Washington DC. "We're thrilled to welcome Renovus to Behavioral Framework and usher in the next chapter of our growth as we continue to build a world-class autism services organization focused squarely on the needs of our clients and their families," said Kyle West, Behavioral Framework CEO. "There is a critical need nationwide for autism diagnostics and ABA therapy. Operating from our shared values and vision, the Renovus team will help us accelerate our growth and provide life-changing diagnostics and therapy to as many children and families as possible." "Kyle and Angela have established a strong leadership position in the growing ABA space with a unique focus on compassion for the people they serve and achieving measurable results on their behalf," said Jesse Serventi, Founding Partner at Renovus. "We are proud to support a passionate team as we seek to advance the important impact Behavioral Framework is making in the lives of children and families affected by autism, while growing to reach new communities." "Our success in helping our clients achieve meaningful outcomes is built around holding ourselves to the absolute highest standards, individualized care, and a family focus," said Angela West, Behavioral Framework Chief Clinical Officer. "Our decades of experience have taught us that strong leadership combined with research-based programming and compassionate care are fundamental keys to better outcomes for patients on their path to independence. Renovus shares this commitment and we look forward to their support in the coming years." A team led by senior banker Erika Haanpaa of Cain Brothers, a division of KeyBanc Capital Markets, served as exclusive financial advisor to Behavioral Framework. About Behavioral Framework Behavioral Framework is a leading provider of autism diagnostic services and ABA therapy in Maryland, Virginia, and Washington DC. Since 2017, Behavioral Framework has provided clinically exceptional care and measurable client outcomes for thousands of children diagnosed with autism and their families. Our team of dedicated behavioral experts is committed to providing our diverse community with consistent, quality care based on decades of research and best practices. Passion motivates us, progress sustains us, and measurable results help our clients reach their lifelong potential. About Renovus Capital Partners Founded in 2010, Renovus Capital Partners is a lower middle-market private equity firm specializing in the Knowledge and Talent industries. From its base in the Philadelphia area, Renovus manages over $1 billion across its three sector focused funds and other strategies. The firm's current portfolio includes over 25 U.S. based businesses specializing in education and training, healthcare services, technology services and professional services. Renovus typically partners with founder-led businesses, leveraging its experience within the industry and access to debt and equity capital to make operational improvements, recruit top talent, pursue add-on acquisitions and oversee strategic growth initiatives.

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Fintech, Investments

KSL Capital Partners Announces Promotions, Including Four New Partners

KSL Capital Partners | December 15, 2023

KSL Capital Partners, LLC ("KSL"), a leading investor in travel and leisure businesses, today announced its 2024 promotions, including the addition of four individuals to the firm's partnership. The following individuals have been promoted to Partner effective January 1, 2024. Kirk Adamson Martin Edsinger Kevin Rohnstock Tina Yu "Our people are our single most important asset, and we could not be more pleased to welcome four new Partners who reflect the strength of our firm and global team," said Eric Resnick, Chief Executive Officer and co-founder of KSL. "On behalf of the entire KSL team, I want to congratulate Kirk, Martin, Kevin and Tina on their well-deserved promotions to Partner and thank them for their unique strengths and exceptional leadership, which have been instrumental to KSL's success to date. Each will support our continued growth in the years to come." KSL also announced Michael Acierno and Harris Levinson have been promoted to Principal, effective January 1, 2024. "KSL is committed to building the next generation of private equity leaders and promoting from within our firm, and we are thrilled to see the continued progression of our team," said Peter McDermott, Chief Investment Officer and co-founder of KSL. "Mike and Harris both joined us as associates and are now key leaders in our tactical opportunities and credit fund strategies, and we thank them for their hard work and commitment. We look forward to their continued growth at KSL." Mr. Acierno, who focuses on tactical opportunities, and Mr. Levinson, who focuses on credit investments, are also members of the firm's Investment Committee. About Kirk Adamson Prior to joining KSL in 2017, Kirk was a Principal in Blackstone's Real Estate Debt Strategies team (BREDS) based in London. Prior to Blackstone, Kirk was an Associate in Deutsche Bank's Commercial Real Estate Group from 2010 to 2012. Earlier in his career, Kirk worked as an Investment Banking Analyst at Deutsche Bank, based in both New York and London. Kirk holds a B.S. in Accounting & Business Administration from Washington & Lee University, where he graduated magna cum laude. Kirk focuses on North American investments. About Martin Edsinger Prior to joining KSL in 2017, Martin worked as an Investment Manager with ARLE Capital Partners. Prior to ARLE Capital Partners, Martin worked as an Experienced Associate Consultant with Bain & Company and an Economic Analyst with NERA Economic Consulting. Martin graduated from The Stockholm School of Economics (SSE), where he holds a degree in Accounting and Financial Management and an MSc in Economics and Business. Martin focuses on European investments. About Kevin Rohnstock Kevin serves as the firm's General Counsel. Prior to joining KSL in 2011 as Chief Compliance Officer, Kevin served as Associate General Counsel of Royal Gold, Inc. from 2009 to 2011 and as Senior Corporate Counsel for Newmont Mining Corporation from 2005 to 2009. Kevin began his legal career in 2002 as an Associate in the Corporate and Securities Department of Brownstein Hyatt & Farber, P.C. Kevin is a former member of the Board of Trustees of the Legal Aid Foundation of Colorado. Kevin holds a B.A. from Holy Cross and a J.D. from the University of Denver. About Tina Yu Prior to joining KSL in 2011, Tina was an Investment Banking Analyst at Citigroup in the Real Estate group. Tina was awarded in 2018 The International Hotel Investment Forum (IHIF) and The International Society of Hospitality Consultants (ISHC) Young Leader Award and featured as one of the Influential Women in Hospitality by Hotel Magazine in 2018. Tina graduated magna cum laude from The University of Pennsylvania, where she holds a B.S. in Finance and Real Estate from the Wharton School and a B.A. in International Studies from the College of Arts and Sciences. Tina focuses on European investments. About KSL Capital Partners KSL Capital Partners, LLC is a private equity firm specializing in travel and leisure enterprises in five primary sectors: hospitality, recreation, clubs, real estate and travel services. KSL has offices in Denver, Colorado; Stamford, Connecticut; New York, New York; and London, England. KSL invests across three primary strategies through its equity, credit and tactical opportunities funds. KSL's current portfolio includes some of the premier properties in travel and leisure.

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Investment Management

AffiniPay Launches AffiniPay IQ, Generative AI for Legal Tech Industry

AffiniPay | January 24, 2024

AffiniPay, the leader in online payments and software solutions for professionals, announced the launch of generative AI embedded in its leading legal technology products, MyCase, CASEpeer, LawPay, and Docketwise. “At AffiniPay, we believe generative AI can drive the type of efficiencies and insights that will result in better outcomes for our customers and their clients,” said Dru Armstrong, Chief Executive Officer of AffiniPay, parent company of MyCase, CASEpeer, LawPay, and Docketwise. “As a trusted technology partner, we have big plans to empower our customers with AI, and are excited to announce the launch of AffiniPay IQ.” According to the newly released 2024 LawPay and MyCase Legal Industry Report, productivity is a key driver for generative AI investment, with 75% of law firms citing it as the top reason for their interest in AI. To meet this demand, AffiniPay is investing in generative AI and plans to roll out new solutions in a phased manner across the legal product suite. Starting with a MyCase beta, AffiniPay plans to extend various AI solutions to CASEpeer, LawPay, and Docketwise in the coming months. The company’s vision is that customers will be able to utilize AI-powered conversational interface that will enable users to access their data and generate insights using natural language, directly within the interface. These future features will include Case and firm search: Attorneys and staff can quickly get answers to their questions around a specific case or client, saving time in their day Intelligent insights: Law firms can receive customized recommendations to optimize intake, productivity, cash flow, and more Automation: Firms can create workflows, send payments, and open files - all by interacting with the platforms in a conversational way, just like they would with a trusted assistant The first beta release of AffiniPay IQ features include document summarization and text editing, both of which will be woven seamlessly into the suite of AffiniPay’s legal products. Starting with MyCase and CASEpeer, the following AI features will be built into daily workflows Document summarization: Empowers law firms to review case documents quickly using AI-generated summaries of their contents Text editing: AI-powered text editing embedded into the product to allow style updating, tone changes, and summarization “We are committed to our responsible approach to innovation, and are excited to launch generative AI functionality into our software that serves our customers and their needs, and no one else,” said Bryan Thompson, Chief Technology Officer of AffiniPay. “This is the first of many thoughtful generative AI features that our team will be weaving into our product suite over the coming months.” The second release of AffiniPay IQ features will include Communication drafts: Attorneys and staff can quickly generate first drafts of client communications or invoice reminders Translations: Users can translate text into different languages instantly Task & event generation: Law firms can select and analyze text in notes, documents, or emails, and receive suggestions for tasks or events, saving time at every step Data population: Docketwise-specific AI feature that instantly extracts key information from copies of passports, drivers’ licenses, and birth certificates, to automatically populate immigration SmartForms AffiniPay invites legal professionals to experience AffiniPay IQ from Jan. 29 - Feb. 2, during Legalweek in New York, where both LawPay and MyCase are sponsors. About AffiniPay AffiniPay is a market leader in practice management software and online payments for professionals serving legal, accounting, architectural, engineering, and construction firms. AffiniPay has been recognized as one of Inc. 5000’s fastest-growing companies for 12 years in a row. Each of its brands leads the market it serves with solutions purpose-built by industry including LawPay, MyCase, CASEpeer, Docketwise, CPACharge, and AffiniPay for Associations. AffiniPay’s solutions are trusted by more than 245,000 legal & accounting professionals with more than 150 strategic partnerships and endorsements, including the American Bar Association and the American Institute of Certified Public Accountants.

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Financial Management

Capchase Launches Collections Tool, Expanding Revenue Services for SaaS Companies

Capchase | December 06, 2023

Capchase, the revenue acceleration platform for Software-as-a-Service (SaaS) companies, today released Capchase Collect, an invoice collections tool for SaaS. Capchase Collect is the company's latest solution as part of its mission to help SaaS companies manage revenue, access non-dilutive capital, and accelerate growth. The tool was announced alongside a brand refresh for Capchase. In the U.S., 49% of the invoices produced by a business for services become overdue, according to a 2022 industry report. The longer the collection process takes, the likelihood of a customer paying the invoice decreases. Capchase also found average days sales outstanding (DSO) for SaaS companies has increased by 20% in 2023, resulting in less working capital for the business to invest in growth. With macroeconomic uncertainty, companies are looking for more ways to increase their cash position and extend runways, making it ever more imperative to collect on invoices in a timely manner. Businesses already experiencing a burden of overdue invoices, or want to enact a system to prevent falling behind, can expect cash flow to increase by a median amount of 34% per month using Capchase Collect. Capchase Collect automates the invoicing process by sending reminders and offering a system for easy re-payment to expedite revenue growth. Effective revenue management is one of the fastest ways companies can strengthen their capital position. Capchase Collect is a transformative solution for SaaS founders, addressing the core challenge of securing revenue from customers in a consistent and efficient way. With Collect, we streamline the entire process - beyond just invoice generation—ensuring timely payments, reducing errors, and facilitating robust collaborations across departments. Our focus is on boosting cash flow predictability and empowering SaaS companies to harness their financial potential with ease. Miguel Fernandez, co-founder and CEO of Capchase The intuitive product, which connects directly into existing Capchase customer dashboards or can be accessed as a standalone tool, and integrates with accounting systems like Quickbooks and Xero, provides the following benefits to users: A holistic and sortable view of accounts receivable balances including, total outstanding, upcoming, and overdue balances for buyers and unpaid invoices. An overview of total aging balances to easily track past due payments. Customizable emails for personalized notices based on customer and invoice status with the ability to automate and edit the frequency of reminders. "Capchase Collect has proven to be a valuable addition to our financial toolkit, enhancing the way we handle our invoicing tasks," said Juan Sebastian Angel, COO at Audiense, an early Collect user. "It offers seamless integration with our existing systems, allowing us to automate and streamline our invoicing like never before. Collect has had a massive impact in unblocking cash sitting on receivables." Capchase Collect joins Capchase Grow and Capchase Pay in the company's suite of tools for SaaS companies. Capchase's flagship product, Grow, has recently reached profitability, which has enabled the company to fund additional innovations to further its mission in accelerating revenue growth for SaaS companies. Capchase Collect is available today for small- to- large size SaaS companies that want to automate their collection process and improve cash flow. To learn more about Capchase's revenue services for SaaS, visit www.capchase.com. About Capchase Capchase empowers B2B SaaS companies to grow faster through non-dilutive capital and revenue acceleration tools. Our capital solution, Grow, has made more than $2B in funding available to the SaaS industry. Our revenue management tools, Pay and Collect, help SaaS vendors sell more and collect cash faster. Founded in 2020 and headquartered in NYC, we've worked with over 5,000 businesses and partners to date. Capchase operates in 10 countries in North America and Europe, and was recognized as one of Fast Company's Most Innovative Companies and Forbes' Next Billion Dollar Startups in 2023. To learn more about Capchase, visit capchase.com.

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