MISSOURI CITY, Texas–(BUSINESS WIRE)–Exectras, the go-to provider for SMBs seeking everyday business services, including merchant services, payroll, health insurance and workers’ compensation, today announced the completion of debt financing from Tacora Capital for up to $30 million. The funding will be used for acquiring merchant portfolios, organic growth initiatives and internal infrastructure development.
Through competitively contracted relationships with more than 700 business associations, Exectras provides businesses access to heavily discounted business services and provides every employee and their families world class benefits and perks including zero cost access to America’s #1 virtual primary care and prescription drug coverage.
Product partners include First American by Deluxe, AJ Gallagher, Paychex, Allstate, One Digital, Zebit and Walmart Health.
In addition to its core benefits offering, Exectras originates and acquires credit card residuals and merchant portfolios representing billions of dollars of annual processing volume. Tacora’s funding will be crucial in expanding this capability.
Keri Findley, CEO of Tacora, commented: “As long-time backers of the entrepreneur economy, we are thrilled to support Joe and the Exectras team as they continue to build a platform that helps business owners thrive. We look forward to a long-term relationship with Exectras and its customers.”
Joseph Cherry, President and CEO of Exectras, commented: “We are grateful to have a partner in Tacora that understands our business and is committed to our growth. As entrepreneurs themselves, they understand how valuable our services can be. We look forward to an extended partnership.”
SFT Capital served as arranger/adviser on the transaction.
Founded in 2007 by Joe Cherry, Exectras offers a unique combination of payment processing, Fortune 500 business services, and employee perks and benefits to businesses of all sizes. To learn more, please visit www.exectras.com.
Tacora is an investment manager that provides creative financing solutions to capital intensive venture-backed companies in sectors such as Fintech, Insuretech, and Proptech. To learn more, please visit www.tacoracap.com.
President and CEO, Exectras
Brian Ruby/Chris Gillick