Sale will accelerate the fast-growing fintech company’s expansion into new markets
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BAM, an Atlanta-based fintech leader providing cash management and working capital solutions to the transportation industry, announced today that it has acquired Vertex Financial. The acquisition allows BAM to expand its focus outside of the transportation realm, serve new markets, and drive efficiency and growth for more businesses.
Founded in 1989, Dallas-based Vertex Financial has nearly three decades of experience providing cash flow and financing solutions to markets across the spectrum, including construction, staffing, oil and gas, manufacturing, food and beverage distribution, and professional services. BAM’s Chief Credit Officer, Debra Wilson-Zukonik, previously served as president of Vertex Financial for 16 years before joining BAM in 2017. Wilson-Zukonik’s commercial finance expertise and deep institutional knowledge will be integral throughout the transition, as BAM brings its cloud-based payment processing and funding platform to new markets and geographies.
“After working for many years to build Vertex’s capabilities and national customer footprint, I’m excited for this next chapter of growth,” Wilson-Zukonik says. “BAM is committed to providing solutions that help customers increase efficiency and financial performance, combined with the exceptional customer service Vertex customers have depended on for the last 28 years.”
BAM completed its acquisition of Vertex at the end of 2017, capping off a year of dramatic growth for the company. The Atlanta company launched in 2014 and has grown rapidly since then, tripling its revenue over the past year.
BAM’s specialty finance software and operations platform, BAMwire™, offers businesses access to the technology and capital they need to streamline back-office operations and scale faster. The average BAM client sees 60 percent year-over-year growth. As BAM enters 2018, the company is focused on growth and additional acquisition opportunities that bring its financing solutions to a wider universe of businesses.
“We look forward to welcoming the Vertex team to the company,” says Todd Ehrlich, CEO of BAM. “Vertex’s proven expertise allows BAM to expand our knowledge base, capabilities and market reach, ultimately helping more customers reduce worries about cash flow and invoicing so they can focus on running their businesses.”
BAM is a leading provider of cash management and working capital solutions for transportation, construction, oil and gas and temporary staffing service providers, committed to helping clients increase their financial performance through operational efficiency. BAM’s proprietary payment processing and cash management engine, BAMwire™, allows businesses access to capital more quickly, reducing days to pay, improving credit scores and building stronger vendor relationships while increasing cash flow. Unlike traditional bank lending or factoring arrangements, BAM uses proprietary technology to improve access to capital across industries and service providers. Learn more at http://www.bamwire.com