Aliaswire announces the sale of SMB credit card firm Payvus
By Delisha Fernandes
Aliaswire, a provider of innovative payment and FinTech services, announced that Onboard Partners, LLC has acquired its Payvus small business credit card issuing and capital management business.
The acquisition of the Payvus business, technology and intellectual property will expand Onboard’s financial services advisory, marketing and portfolio management capabilities with an innovative new platform that is specifically designed to meet the unique needs of small business owners.
“We have worked closely with the Aliaswire team as a strategic partner since they first launched the Payvus solution and we both agreed that continuing to build the business as part of the Onboard platform would significantly accelerate its growth and reach,” said Scott Shaw, CEO of Onboard.
“More importantly, in leveraging the innovative Payvus platform and Onboard’s deep domain expertise, we can bring a compelling new offering to our diverse array of partners and clients that will open up new revenue and portfolio management opportunities in the long underserved small business market.”
Payvus is available to millions of small businesses who need access to short term revolving credit and better tools for managing their cash flow. With its innovative and proprietary underwriting, flow of funds and capital management platform, the company manages a portfolio of small business cards that spend above the industry average while maintaining a loss rate that is a fraction of a typical portfolio.
“We are excited that Onboard will provide Payvus with a new foundation to continue to innovate and grow,” said Jed Rice, CEO of Aliaswire. “Given our long-standing relationship with Onboard and their unmatched expertise in this space, this is the perfect home for the business and the team. We are confident that Onboard will give Payvus what it needs to reach its full potential.”
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