February 28, 2015 7:55 PM ET

Diversified Financial Services

Company Overview of CAN Capital, Inc.

Company Overview

CAN Capital, Inc. is a holding company operating through its subsidiaries CAN Capital Merchant Services, Inc. (CCMS) and CAN Capital Asset Servicing, Inc. (CCAS). The company’s subsidiaries provide merchant cash advances, business loans, working capital, and alternative business finance. It uses risk models combined with daily performance data to evaluate business performance and facilitate access to capital for entrepreneurs. The company caters to small and medium-sized businesses. CAN Capital, Inc. was formerly known as Capital Access Network, Inc. and changed its name to CAN Capital, Inc. in December 2013. The company was founded in 1998 and is based in New York, New York.

414 West 14th Street

3rd Floor

New York, NY 10014

United States

Founded in 1998

Phone:

877-550-4731

Key Executives for CAN Capital, Inc.

Chief Executive Officer
Chief Financial Officer
Chief Legal Officer, Chief Compliance Officer and Executive Vice President
Age: 45
Chief Risk Officer
Chief People Officer
Compensation as of Fiscal Year 2014.

CAN Capital, Inc. Key Developments

CAN Capital Appoints Aman Verjee as Chief Financial Officer

CAN Capital announced the appointment of Aman Verjee as Chief Financial Officer. In this role, Verjee will lead the finance and accounting teams as CAN Capital continues its rapid growth in the category. He will be based at the company's New York headquarters, reporting to Daniel DeMeo, Chief Executive Officer of CAN Capital. Most recently, he was the CFO of Collective, Inc.

CAN Capital Launches CAN Connect(TM)

CAN Capital, Inc. announced the availability of CAN Connect(TM) as part of the company's growing suite of integrated technology offerings. CAN Capital has made significant investments in these offerings, which include Mobile Funder and CAN Capital's proprietary end-to-end (E2E) digital platform, and collectively serve to automate and optimize the funding sign-up and servicing processes for both the partners and merchants. These investments have resulted in over 350% year-over-year growth in digital transactions. CAN Connect(TM) is a full suite of Application Program Interfaces (APIs) that enables third-party providers, such as payment processors and providers of point of sale (POS) systems and cloud accounting software, to offer their small business customers access to working capital based on available merchant data. With CAN Connect(TM), partners in the merchant services industry will be able to offer access to capital directly to their customers through their own existing platforms. Partners and merchants using CAN Connect(TM) will benefit from CAN Capital's advanced instant quote and application process, which can be seamlessly integrated into the partners' existing software applications. Through CAN Connect(TM), merchants will be able to receive a CAN Instant Quote(TM) based solely on data provided by the partner. Once the merchant elects to proceed, they are taken through a simple online application process and can obtain access to working capital without ever leaving the partner's platform. Alternatively, partners can leverage CAN Capital's online application interface and pass merchants through a co-branded site. CAN Capital will roll out CAN Connect(TM) to both new and existing partners in the coming months. The company has already partnered with several merchant service providers in the beta phase. Fundera, an online marketplace that connects small business owners with the best funding providers for their businesses, will soon begin leveraging CAN Connect(TM) to provide access to funding through CAN Capital. With CAN Connect(TM), Fundera will be able to generate a CAN Instant Quote(TM) for potential candidates prior to these customers completing a full application. CAN Instant Quote(TM) (CAN IQ(TM)) -- Provides provisional working capital options using the customer data that web-based merchant service providers already collect. The CAN Instant Quote(TM) (CAN IQ(TM)) feature enables CAN Capital and its partners to determine the funding amount and type of financial product for which a merchant may be eligible, with no action required from the merchant. Pre-Qualification -- This is the entry point for the merchant, which provides additional self-reported or verifiable financial data for official pre-qualification. Full Submission -- Enables the merchant to move from pre-qualification to completed application, providing clear instructions and real-time status updates along the way. The merchant is able to complete the entire submission process without leaving the third party provider's platform. Program/Application Status -- Provides partners with reporting on closed leads as well as detailed information about all merchant applications in process. Intelligent Application Engine -- Links the merchant's pre-populated application into an application and qualification workflow, which can be used by partners to collect additional customer data.

CAN Capital Appoints Kenneth Gang as Chief Risk Officer

CAN Capital announced the appointment of Kenneth Gang as Chief Risk Officer. In this new role, Gang will be responsible for overseeing credit and operational risk for CAN Capital. He will be based in Atlanta, Georgia and will report to Daniel DeMeo, Chief Executive Officer at CAN Capital. Gang joins CAN Capital from Global Lending Services he served as Chief Risk Officer. Earlier in his career, he led Wells Fargo's Auto Finance division, and held risk and analytics positions at HSBC North America and other banks.

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