March 01, 2015 9:04 PM ET

Software

Company Overview of Cachet Financial Solutions, Inc.

Company Overview

Cachet Financial Solutions Inc. provides remote deposit capture (RDC) solutions to financial institutions and their customers 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 hosted platform for institutions to manage their own RDC operations. It also provides RDC Select Mobile product, which allows the users to take a picture of the front and back of the check and deposit at their financial institution remotely. Cachet Financial Solutions Inc. serves ba...

18671 Lake Drive East

Southwest Tech Center A

Minneapolis, MN 55317

United States

50 Employees

Phone:

952-698-6980

Fax:

952-698-6999

Key Executives for Cachet Financial Solutions, Inc.

Chairman, Chief Executive Officer and President
Age: 61
Total Annual Compensation: $248.0K
Chief Technology Officer and Executive Vice President of Product Development
Age: 48
Total Annual Compensation: $175.0K
Executive Vice President of Sales
Age: 56
Total Annual Compensation: $175.0K
Compensation as of Fiscal Year 2013.

Cachet Financial Solutions, Inc. Key Developments

Cachet Financial Solutions, Inc. Enters in to Financing Commitment

On February 16, 2015, Cachet Financial Solutions, Inc. entered into an addendum to the financing commitment letter dated as of July 30, 2014 with directors James L. Davis and Michael J. Hanson, under which addendum Messrs. Davis and Hanson agreed to extend from January 31, 2015 to January 31, 2016 the maturity date for the repayment of principal advanced under the commitment letter ($450,000), plus interest. Under the addendum, interest will continue to accrue from the date of advance at the rate of 10% per annum.

Cachet Financial Solutions Appoints Rod Jardine to the Board of Directors

Cachet Financial Solutions, Inc. has appointed Rod Jardine to its board of directors effective February 9, 2015. Jardine brings more than 22 years of executive-level experience working with Fortune 500 companies across a range of industries, including healthcare, financial, government and retail. He is currently senior vice president and chief information officer of TMG Health.

Cachet Financial Solutions, Inc. Announces Amendments to the Articles of Incorporation

Cachet Financial Solutions, Inc. announced amendments to the articles of incorporation or bylaws. The disclosure in Item 1.01 regarding the filing of the Certificate of Designation for the Series B Convertible Preferred Stock is incorporated into this item by this reference.

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