Breaking #Tech #Stock News: Business Warrior
(OTC: $BZWR) Acquires #FinTech #SaaS Company, Alchemy Technologies; @BizWarriorLIFE
Acquisition bolsters the Company's FinTech offerings and broadens reach
to a worldwide level
PHOENIX - June 9, 2022
(Investorideas.com Newswire) Business Warrior
Corp. (OTC: BZWR),
the source for small businesses in America to get more customers, today
announces the acquisition of Alchemy
Technologies, a global FinTech software as a service (SaaS) company.
The acquisition strengthens Business Warrior's core marketing and lending
software while expanding the Company's brand and services to meet global
demand.
Read this news, featuring BZWR in
full at https://www.investorideas.com/news/2022/technology/06091BZWR-Acquires-Alchemy-Technologies.asp
Business Warrior announces the
acquisition of Alchemy Technologies, a global FinTech software as a service
(SaaS) company. (Graphic: Business Wire)
Alchemy specializes in creating
end-to-end, cloud native lending experiences for other FinTech companies, merchants
and banks. The company installs its core solution to a number of different
verticals, including:
- Personal loans
- Point of Sale Financing
- Health and Beauty Financing
- Construction Loans
- Solar and Home Improvement Financing
- Small Business Lending
- Skillset Financing
- Crowdfunding Platforms
In working with Alchemy to develop
its Business Warrior Funding lending platform earlier this year, Business
Warrior identified Alchemy as an attractive acquisition opportunity, noting its
operational and financial performance.
Alchemy is a global company with
customers in six different countries and territories, the United States,
Mexico, United Arab Emirates, Australia, United Kingdom and Puerto Rico. In
2021, Alchemy generated total revenues of $2.8 million. The company is on track
to add additional revenue and projects full-year 2022 revenues to increase by
77% compared to 2021.
"After working with Alchemy, we
quickly realized the massive potential of adding this international group of
industry leaders to the Business Warrior team," explains Business Warrior
President Jonathan Brooks. "With our Business Warrior platform, premium
marketing, and now a global lending technology presence, we are building
solutions that propel the success of small businesses."
As a subsidiary of Business Warrior,
Alchemy will remain under its current brand name and will continue to support
its clients and internal teams. Alchemy and its more than 30 full-time
employees and over 100 full-time contracted developers will be an independently
managed subsidiary of Business Warrior. This acquisition expands the Business
Warrior team to 157 professionals focused on a singular mission: to be the
source for success and long-term growth for small businesses through marketing
technology and unique funding solutions.
Alchemy founder and CEO Timothy Li
will join Business Warrior as the Global Head of Technology, where he will work
alongside the Business Warrior executive team. Li, who has an extensive
background and is a recognized expert in the FinTech industry, previously
worked as a chief information officer and as a chief risk officer for JP Morgan
Chase, Loan Depot, and Realty Mogul.
"We are so excited about joining
the Business Warrior family! This move provides Alchemy with the additional
resources, tools and capital necessary to enhance our service to
customers," states Li. "Both companies believe small business owners
are the lifeline of local communities. By bringing Alchemy and Business Warrior
together, the positive impact on these communities is going to be
worldwide."
Randy Schmidt, formerly the COO of
Alchemy, will transition into the role of senior vice president of Alchemy and
will lead its internal team moving forward.
The value of the deal at closing is
$8.75 million with $2.25 million in cash and $5 million in preferred stock with
a 7%, three-year cash dividend. In addition, $450,000 in restricted common
stock will go to existing Alchemy employees that will vest over 24 months.
About Business Warrior
Business Warrior is a SaaS company
providing small businesses in the United States with a suite of data-driven
marketing and next-generation, funding solutions to boost local market
dominance. Founded in 2014, Business Warrior is singularly focused on offering
locally targeted lead generation marketing and funding solutions that fuel
small business growth. By using next generation machine-learning and native
software, Business Warrior has made growth funding and conversion marketing
accessible for thousands of under-resourced and under-funded small business
owners. For more information, visit BusinessWarrior.com.
About Alchemy Technologies
Alchemy Technologies is an industry
leading embedded financing software company that powers FinTech's, Merchants
and Banks with an end-to-end cloud native experience. Its award-winning lending
software provides a full package of powerful software modules, including its
digital customer onboarding process, real time underwriting, loan servicing and
management, real time payments gateway, customer and merchant communications,
collections modules and many more. Businesses leverage the robust, integrated
Alchemy solutions to help retain existing customers, gain new customers,
mitigate risk and operate more effectively. For more information, please
visit TrustAlchemy.com.
Forward Looking Statements:
This press release and the offering
materials may contain forward-looking statements and information relating to,
among other things, the company, its business plan and strategy, and its
industry. Forward-looking statements are neither historical facts nor
assurances of future performance. They are based on the current beliefs of,
assumptions made by, and information currently available to the company's
management regarding the future of the company's business, future plans and
strategies, anticipated events and trends, the economy and other future
conditions. When used in the offering materials, the words "aim,"
"estimate," "project," "believe,"
"anticipate," "intend," "envision,"
"estimate," "expect," "future," "goal,"
"hope," "likely," "may," "plan,"
"potential," "seek," "should,"
"strategy," "will" and similar references to future periods
are intended to identify forward-looking statements, which constitute forward
looking statements. These statements reflect management's current views with
respect to future events and are subject to inherent risks, uncertainties and
changes in circumstances that are difficult to predict (many of which are
outside of the company's control) and could cause the company's actual results
to differ materially from those contained in the forward-looking statements.
Investors are cautioned not to place undue reliance on these forward-looking
statements, which speak only as of the date on which they are made. All
subsequent written and oral forward-looking statements concerning the company,
the offering or other matters, are expressly qualified in their entirety by the
cautionary statements above. The company does not undertake any obligation to
revise or update these forward-looking statements to reflect events or
circumstances after such date or to reflect the occurrence of unanticipated
events.
Contacts
Investor Relations:
Tanner Otts
Investors@BusinessWarrior.com
(855) 884-5805
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