Company Overview of Cachet Financial Solutions, Inc.
Cachet Financial Solutions Inc. provides cloud-based Software-as-a-Service (SaaS) remote deposit capture (RDC) solutions in the United States, Canada, and Latin America. RDC is a service that allows a business or consumer to scan checks and transmit the scanned images to a financial institution for posting and clearing or cashing and loading remotely to a pre-paid debit card. The company offers RDC Select, a cloud-based and hosted SaaS platform for institutions to manage their own RDC operations. It also provides a cloud-based SaaS RDC Select Mobile product, which allows the users to take a picture of the front and back of the check and deposit to their account at their financial institution...
Southwest Tech Center A
18671 Lake Drive East
Minneapolis, MN 55317
Key Executives for Cachet Financial Solutions, Inc.
Chairman, Chief Executive Officer and President
Total Annual Compensation: $262.9K
Chief Financial Officer, Principal Accounting Officer and Executive Vice President
Total Annual Compensation: $163.4K
Executive Vice President of Product Development
Total Annual Compensation: $188.8K
Executive Vice President of Sales
Total Annual Compensation: $188.8K
Compensation as of Fiscal Year 2014.
Cachet Financial Solutions, Inc. Key Developments
Cachet Financial Solutions Introduces Payroll Card Platform and White Label Mobile App for Corporate Clients
Sep 10 15
Cachet Financial Solutions, Inc. announced that it has received approval from its issuing bank and MasterCard to offer its Select Mobile Money end-to-end turnkey payroll program for corporate clients. Cachet's payroll card platform consists of a reloadable payroll prepaid MasterCard and a convenient mobile application. The payroll prepaid debit card is linked to a routing/account number, allowing employees to pay workers with the card using direct deposit. Since the card leverages MasterCard's payment processing network, it can be used at more than 35 million locations worldwide where MasterCard is accepted.
CU Mobile Apps Selects Cachet Financial Solutions, Inc. as Preferred Mobile Deposit Provider
Aug 20 15
Cachet Financial Solutions, Inc. has been selected as the preferred mobile deposit provider for CU Mobile Apps, a new, customizable, and affordable mobile delivery solution designed to give credit unions a competitive edge. CU Mobile Apps, seamlessly integrated with Cachet's Select Mobile™ Deposit, heightens essential two-way communications between credit unions and their members. CUMA encapsulates the credit union's current banking solution and includes mobile deposit, integrated locator searches, P2P solutions, social media, and alert messaging, taking a credit union from an online banking or a mobile banking tool to a full service mobile branch experience. Among the many other capabilities, members can view special offers, request loan information, or integrate a mobile chat.
Cachet Financial Solutions, Inc. Reports Earnings Results for the Second Quarter Ended June 30, 2015
Aug 6 15
Cachet Financial Solutions, Inc. reported earnings results for the second quarter ended June 30, 2015. Revenue in the second quarter of 2015 increased 64% to $1.0 million from $609,000 in the same year-ago quarter. The increase was driven by growing adoption of the company’s Select Mobile and Select Business RDC solutions. Net loss attributable to common stockholders in the second quarter of 2015 totaled $8.9 million or $0.36 per basic and diluted share, compared to a net loss of $4.2 million or $0.65 per basic and diluted share in the second quarter of 2014. Adjusted EBITDA loss for the second quarter of 2015 totaled $2.1 million compared to an adjusted EBITDA loss of $2.3 million in the same year-ago period. Non-GAAP loss for the second quarter of 2015 totaled $2.4 million or $0.10 per basic and diluted share, compared to a non-GAAP loss of $2.6 million or $0.40 per basic and diluted share in the same year-ago period.
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