back Back

Business Warrior acquires Alchemy Technologies

By Edlyn Cardoza

June 10, 2022

  • Alchemy Technologies
  • Business Warrior Corp
  • Core Marketing
Share

Alchemy Technologies, Business Warrior Corp, FinTech SaaS, Core Marketing, Personal loans, Small Business Lending, USABusiness Warrior Corp., the source for small businesses in America to get more customers, recently announced the acquisition of Alchemy Technologies, a global FinTech software as a service (SaaS) company. The acquisition strengthens Business Warrior’s core marketing and lending software while expanding the Company’s brand and services to meet global demand.

Alchemy specialises in creating end-to-end, cloud-native lending experiences for other FinTech companies, merchants, and banks. The company installs its core solution to several different verticals, including:

  • Personal loans
  • Point of Sale Financing
  • Health and Beauty Financing
  • Construction Loans
  • Solar and Home Improvement Financing
  • Small Business Lending
  • Skillset Financing
  • Crowdfunding Platforms

In working with Alchemy to develop its Business Warrior Funding lending platform earlier this year, the Company identified Alchemy as an attractive acquisition opportunity, noting its operational and financial performance.

Alchemy is a global company with customers in six countries and territories, the United States, Mexico, United Arab Emirates, Australia, United Kingdom, and Puerto Rico. In 2021, Alchemy generated total revenues of $2.8 million. The company is on track to add additional revenue and projects full-year 2022 revenues to increase by 77% compared to 2021.

“After working with Alchemy, we quickly realised the massive potential of adding this international group of industry leaders to the Business Warrior team,” explains Business Warrior President Jonathan Brooks. “With our Business Warrior platform, premium marketing, and now a global lending technology presence, we are building solutions that propel the success of small businesses.”

As a subsidiary of Business Warrior, Alchemy will remain under its current brand name and will continue to support its clients and internal teams. Alchemy and its more than 30 full-time employees and over 100 contracted developers will be an independently managed subsidiary of Business Warrior. This acquisition expands the the subsidary’s team to 157 professionals focused on a singular mission: to be the source of success and long-term growth for small businesses through marketing technology and unique funding solutions.

Alchemy founder and CEO Timothy Li will join Business Warrior as the Global Head of Technology, where he will work alongside the Business Warrior executive team. Li, who has an extensive background and is a recognised expert in the FinTech industry, previously worked as a chief information officer and as a chief risk officer for JP Morgan Chase, Loan Depot, and Realty Mogul.

“We are so excited about joining the Business Warrior family! This move provides Alchemy with the additional resources, tools and capital necessary to enhance our service to customers,” states Li. “Both companies believe small business owners are the lifeline of local communities. By bringing Alchemy and Business Warrior together, the positive impact on these communities is going to be worldwide.”

Randy Schmidt, formerly the COO of Alchemy, will transition into senior vice president of Alchemy and will lead its internal team moving forward.

The deal’s value at closing is $8.75 million with $2.25 million in cash and $5 million in preferred stock with a 7%, three-year cash dividend. In addition, $450,000 in restricted common stock will go to existing Alchemy employees that will vest over 24 months.

Previous Article

June 10, 2022

Railsr announced the launch of its Rewards-as-a-Service product

Read More
Next Article

June 10, 2022

Middesk raises $57m Series B

Read More








IBSi Daily News Analysis

payment check out, Open Banking

April 23, 2024

Alchemy Technologies

UAE retailers lose millions annually on payments fraud; consumers’ wallets impacted

Read More

IBSi FinTech Journal

  • Most trusted FinTech journal since 1991
  • Digital monthly issue
  • 60+ pages of research, analysis, interviews, opinions, and rankings
  • Global coverage
Subscribe Now

Other Related News

Today

Razorpay launches UPI Switch in partnership with Airtel Payments Bank

Read More

Today

Sopra Banking Software & Paymentology partner on card issuing services

Read More

April 22, 2024

Payflows raises €25m led by Balderton Capital

Read More

Related Reports

Sales League Table Report 2023
Know More
Global Digital Banking Vendor & Landscape Report Q1 2024
Global Digital Banking Vendor & Landscape Report Q1 2024
Know More
Wealth Management & Private Banking Systems Report Q1 2024
Wealth Management & Private Banking Systems Report Q1 2024
Know More
IBSi Spectrum Report: Supply Chain Finance Platforms Q4 2023
Know More
Treasury & Capital Markets Systems Report Q1 2024
Know More

IBSi Sales League Table

The industry acknowledged barometer of global banking technology vendor performance!
Get your copy now!
close-link
Get your copy now! IBSi Sales League Table 2023