The Receivables Exchange, the real-time online marketplace for working capital, announced today that it is the recipient of the 2011 Emerging Growth Company award from the Louisiana chapter of the Association for Corporate Growth (ACG).
The award is recognition for the Exchange’s phenomenal growth in 2010, when trading volume on its market-based platform increased by 466%. It is also a testament to the success of this innovative Louisiana-based company in changing the landscape of business financing.
“After the stellar year we had in 2010, the best yet for our company, The Receivables Exchange is honored to be recognized by the Association for Corporate Growth for our continued success,” said Exchange CEO and Co-Founder Justin Brownhill. “We achieved such rapid growth by designing an innovative marketplace where small and midsize businesses can access capital flexibly and affordably. This honor from ACG is validation that we are succeeding in our mission to level the financial playing field for SMBs.”
Called the most innovative e-commerce company in the world for 2010 by The Wall Street Journal, The Receivables Exchange connects businesses that need capital to a global network of qualified institutional investors who compete to buy receivables via a real-time marketplace. The competitive auction format drives down the cost of capital for small and midsize businesses (by 30%, on average), giving them the affordable working capital they need, on their terms. Institutional investors can diversify their portfolios by purchasing receivables on the Exchange, and tap into a $17 trillion market for U.S. receivables.
The Receivables Exchange will accept the award from the Louisiana chapter of the Association for Corporate Growth at a ceremony on Tuesday, May 24, at the Hotel InterContinental in New Orleans.