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
Cachet Financial Solutions Appoints Walt Granville as SVP of Mobile Innovations
Nov 17 15
Cachet Financial Solutions, Inc. has named Walt Granville as SVP of Mobile Innovations. Granville will be responsible for driving new mobile innovations for Cachet’s Select Mobile™ Money platform. Granville brings a successful 20-year track record of delivering and sustaining profits within the highly competitive payments, loyalty, offers and mobile markets. Prior to joining Cachet, Granville was Vice President, Global Partnerships for Monitise Group. Previously he served in key leadership roles in mobile, emerging payments, loyalty and card markets, including leading the Visa Global Information Products team dedicated to the development, sales and implementation of new data and technology innovations leveraging the core Visa payments network.
Cachet Financial Solutions and Central Bank of Kansas City Announce Relationship to Issue Select Mobile Money Prepaid Cards
Nov 10 15
Cachet Financial Solutions, Inc. announced that it has entered into a prepaid card marketing and servicing agreement with Central Bank of Kansas City (CBKC) to issue the prepaid cards for Cachet’s Select Mobile™ Money prepaid card program. The card program will be administered by CBKC’s Central Payments Division, based in Dell Rapids, South Dakota. CBKC will issue the Select Mobile Money general purpose reloadable (GPR) prepaid debit cards that Cachet markets to its financial institution and corporate clients. In addition to the network branded prepaid card, Cachet’s Select Mobile Money prepaid card program includes convenient program management and a mobile app that puts a suite of financial services at the cardholder’s fingertips.
Cachet Financial Solutions, Inc. Announces Unaudited Consolidated Financial Results for the Third Quarter and Nine Months Ended September 30, 2015
Nov 5 15
Cachet Financial Solutions, Inc. announced unaudited consolidated financial results for the third quarter and nine months ended September 30, 2015. For the quarter, the company reported revenue of $1,029,958 against $855,631 a year ago. Operating loss was $2,171,702 against $2,326,563 a year ago. Net loss attributable to shareholders was $7,073,194 or $0.29 per diluted share against $5,158,752 or $0.33 per diluted share a year ago. Adjusted EBITDA was $1,620,446 against $1,997,057 a year ago. Non-GAAP operating loss was $1,876,459 against $2,098,931 a year ago. Non-GAAP loss was $2.1 million or $0.09 per basic and diluted share, an improvement from a non-GAAP loss of $2.3 million, or $0.15 per basic and diluted share, in the same year-ago period. The increase in revenue was driven by growing adoption of the company’s Select Mobile and Select Business RDC solutions.
For the nine months, the company reported revenue of $3,036,648 against $1,941,030 a year ago. Operating loss was $7,434,661 against $6,935,640 a year ago. Net loss attributable to shareholders was $19,158,765 or $0.63 per diluted share against $12,277,437 or $1.30 per diluted share a year ago. Adjusted EBITDA was $6,298,325 against $6,227,638 a year ago. Non-GAAP operating loss was $6,690,612 against $6,451,316 a year ago. Non-GAAP loss was $7,242,079 or $0.24 per basic and diluted share against $7,989,373 or $0.85 per basic and diluted share a year ago.