REPAY Strengthens B2B Payments Team to Bolster Accelerating Growth in Accounts Payable (AP) and Accounts Receivable (AR) Automation

Rhea-AI Summary

Repay Holdings Corporation (NASDAQ: RPAY) announced the appointment of Darin Horrocks as EVP, B2B Business, and Phillip Tau as VP of B2B Strategy and Business Development. These appointments aim to strengthen the company's B2B payments team amid growing demand. Horrocks has been pivotal since joining through the acquisition of cPayPlus, leading to significant client growth and strategic partnerships. The B2B payments market is projected to reach $200 trillion in the next decade, positioning REPAY favorably in this expanding sector.

Positive

• Appointment of Darin Horrocks as EVP B2B Business, enhancing leadership in the B2B sector.
• Addition of Phillip Tau, bringing extensive experience from Divvy and Visa to drive B2B strategy.
• Significant growth with over 3,300 clients and more than 80 B2B software integrations.
• B2B payments market expected to reach $200 trillion, indicating strong future prospects.

Negative

• None.

Darin Horrocks Appointed EVP, B2B Business and Phillip Tau Joins as VP of B2B Strategy and Business Development

ATLANTA--(BUSINESS WIRE)-- Repay Holdings Corporation (NASDAQ: RPAY) (“REPAY” or the “Company”), a leading provider of vertically-integrated payment solutions, today announced that the Company has strengthened its B2B payments team to meet continued growth, with the appointment of Darin Horrocks as EVP, B2B Business and the addition of Phillip Tau as Vice President of B2B Strategy and Business Development.

“Darin has been an instrumental part of our team since he joined last year through the acquisition of cPayPlus,” said John Morris, CEO of REPAY. “Over the past year, he has helped us source and integrate two additional acquisitions - CPS Payment Services and Kontrol Payables - and has led the team to now service more than 3,300 clients and add over 80 B2B software integrations, representing approximately 15 vertical end markets and close to 100,000 vendors in our supplier network.”

“In addition to Darin, we also recently continued building our B2B organization with Phillip joining as VP of B2B Strategy and Business Development. Phillip brings an incredible amount of experience in developing comprehensive B2B strategy and establishing high-growth partnerships. We're thrilled to welcome him to REPAY and look forward to getting his perspective and guidance on how to further accelerate our efforts in the B2B space,” Morris continued.

REPAY has experienced continued growth in the rapidly expanding B2B market, announcing recent partnerships with Sage, Acumatica, Premier and more. With the B2B payments market expected to reach $200 trillion in the next decade, REPAY is well positioned with the right technology and sales teams to continue its B2B payments acceleration. Additionally, the Company has developed a robust pipeline to cross-sell both AP and AR services to its growing B2B customer base.

Mr. Horrocks joined REPAY in July of 2020, through the acquisition of cPayPlus, and is now EVP of the combined B2B Business. He was the former President and Co-founder of cPayPlus. He has previously held positions at Comdata as VP of Channel Growth, American Express as Director of Business Development, and had over a decade of experience at General Electric in Product and Business Development.

Mr. Tau was most recently Head of Business Development and Strategy for Divvy, Inc. Prior to Divvy he was Director of B2B Payment Solutions and Partnerships at Visa.

Forward-Looking Statements

This communication contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements include, but are not limited to, statements about REPAY’s plans, objectives, expectations and intentions with respect future operations, products and services. Such forward-looking statements are based upon the current beliefs and expectations of REPAY’s management and are inherently subject to significant business, economic and competitive uncertainties and contingencies, many of which are difficult to predict and generally beyond REPAY’s control, including, without limitation, the factors described in REPAY’s reports filed with the U.S. Securities and Exchange Commission. Actual results and the timing of events may differ materially from the results anticipated in these forward-looking statements.

All information set forth herein speaks only as of the date hereof in the case of information about REPAY or the date of such information in the case of information from persons other than REPAY, and we disclaim any intention or obligation to update any forward-looking statements as a result of developments occurring after the date of this communication. Forecasts and estimates regarding REPAY’s industry and end markets are based on sources it believes to be reliable, however there can be no assurance these forecasts and estimates will prove accurate in whole or in part.

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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210909005374/en/

Investor Relations Contact for REPAY:

repayIR@icrinc.com

Media Relations Contact for REPAY:

Kristen Hoyman

(404) 637-1665

khoyman@repay.com

Source: Repay Holdings Corporation

FAQ

Who has been appointed as EVP of B2B Business at Repay Holdings Corporation?

Darin Horrocks has been appointed as EVP of B2B Business at Repay Holdings Corporation.

What is the projected size of the B2B payments market in the next decade?

The B2B payments market is projected to reach $200 trillion in the next decade.

What role does Phillip Tau hold at Repay Holdings Corporation?

Phillip Tau has been appointed as VP of B2B Strategy and Business Development.

How many clients does Repay serve in the B2B sector?

Repay serves over 3,300 clients in the B2B sector.

What significant integrations has Repay achieved in the B2B software space?

Repay has added over 80 B2B software integrations across approximately 15 vertical end markets.