CFO Thought Leader: Unlocking Capital for Growth

REPAY’s Chief Financial Officer, Tim Murphy, was recently featured on the CFO Thought Leader Podcast.

Throughout the 40 minute podcast, Tim shares insights into how and why REPAY began, the end markets we currently serve, and the recent growth we’ve experienced.

Listen to the full segment here.

692: Unlocking Capital for Growth | Tim Murphy, CFO, REPAY

In 2008, as the subprime mortgage crisis began turning the Street’s brash dealmakers into a squeamish clan of risk-averse bankers, Tim Murphy, an associate at Credit Suisse, decided that it was time to try some slots. Lots of them.

“I took a gamble in the casino space—it was probably one of the best decisions that I have made in my career and one the best decisions that we have made as a family,” explains the finance leader, who accepted a director of finance position with Cadillac Jack, a fast-growing slot machine manufacturing company based in Georgia.

At the time, Murphy’s wife (the couple had met at business school) was working for The Coca-Cola Company in Atlanta, a factor that the finance executive says helped to hedge his bet.

“I had opportunities to join investment banks in Atlanta and other large organizations, but we made a conscious decision that given the fact that she had a job at a very large and stable company, I could take a gamble with mine,” says Murphy.

Also influencing Murphy’s decision was the understanding that he would be reporting directly to the CEO, a former investment banker whom Murphy characterizes as a “hard charger.”

Besides helping Cadillac Jack to navigate gaming’s unique compliance highway, Murphy focused on finding ways to grow the business and make it more profitable.

“In about 3 years, we got to the point where we were comfortable with the business and began looking for an exit,” recalls Murphy, who began initiating discussions with potential buyers and lending partners.

Ultimately, Cadillac Jack was sold to Canadian gaming company Amaya for $167 million.

“It was just great experience for me in leading up to becoming a CFO,” says Murphy, who would join Amaya as director of corporate development, where for roughly a year he scouted out new purchases and divestitures for the publicly held firm before entering the CFO office of Atlanta-based REPAY, a publicly traded payment processing company.

“I joined REPAY in January 2014 just after the firm had taken in its first institutional private equity capital—prior to that, it had used really just family and friends’ capital,” continues Murphy, who over the past 7 years has helped the firm to unlock both private and public investment capital as it uncovered new avenues for growth.

Among REPAY’s transaction milestones was the sale of a controlling interest in the company to Corsair Capital in 2016 and a subsequent public offering executed via a SPAC business combination.

“Corsair was able to get a lot of liquidity at the closing of the business combination with the SPAC, and they have since fully exited the business at a much higher stock price than what it was when they entered,” notes Murphy, who adds that to date REPAY has leveraged its access to the public markets to help execute five acquisitions, helping the firm to expand into a number of new verticals.  –Jack Sweeney, CFO Thought Leader

 

REPAY Joins CDK Global Partner Program to Offer Digital B2B AP Payment Capabilities for Auto Dealers Nationwide

Automotive dealers can now easily automate digital payments of outbound B2B invoices to vendors and suppliers from within the CDK dealer management system

ATLANTA–(BUSINESS WIRE)–Apr. 1, 2021– Repay Holdings Corporation (NASDAQ: RPAY) (“REPAY”), a leading provider of vertically-integrated payment solutions, today announced it has become a participant in the CDK Global Partner Program. In connection with this partnership, REPAY joins a marketplace of applications and integrations that CDK Global, Inc. (Nasdaq: CDK), a leading enabler of end-to-end automotive commerce, developed to help nationwide automotive dealers succeed.

As one of the largest third-party partner programs in the industry, the CDK Global Partner Program provides its partners with access to a diverse CDK ecosystem through the ability to integrate with a range of CDK applications, as well as with CDK dealer websites. Through the integration, which is available through cPayPlus, a REPAY company and leading accounts payable (AP) automation provider, thousands of automotive dealers will have the ability to automate electronic AP payments to their various vendors and suppliers based on specific invoice data within the CDK system. Dealers can experience all the benefits of outbound payments via REPAY while maintaining control and gaining significant efficiencies in their AP processes.

“Many business segments still rely on antiquated, manual paper invoicing and check writing, particularly when it comes to paying vendors and service providers, and these traditional processes often require AP personnel to physically be present within the office. Working through the COVID pandemic really shined a light on these inefficiencies and how automation in accounting and vendor management can produce tremendous gains – especially considering the workflows of auto dealers,” said Darin Horrocks, Senior Vice President, B2B at REPAY. “We’re excited to join the CDK marketplace to offer a digital payments solution that can be rapidly implemented and offer an immediate boost to the bottom line for auto dealers nationwide.”

“We’re very pleased to introduce REPAY as the newest member of the CDK Global Partner Program,” said Howard Gardner, vice president and general manager, CDK Data Services. “With its market leading digital payments platform, REPAY is a welcome addition to our vibrant program that provides dealers with a range of technology-driven capabilities and the assurance that their systems can be seamlessly integrated with our applications – without missing a beat in running their businesses.”

About the CDK Global Partner Program

The CDK Partner Program now numbers more than 430 partner companies and 600 unique applications auto dealers can use to run their businesses. As part of the CDK ecosystem, the CDK Partner Program provides data and workflow integration to a wide range of third parties, OEMs and dealers. For a full list of partners and applications available through the program, visit cdkglobal.com/us/partners-list.

About CDK Global

CDK Global (NASDAQ:CDK) is a leading provider of integrated data and technology solutions to the automotive, heavy truck, recreation and heavy equipment industries. Focused on enabling end-to-end, omnichannel retail commerce through open, agnostic technology, CDK Global provides solutions to dealers and original equipment manufacturers, serving nearly 17,000 retail locations in North America. CDK solutions connect people with technology by automating and integrating all parts of the dealership and buying process, including the acquisition, sale, financing, insuring, parts supply, repair and maintenance of vehicles. Visit cdkglobal.com.

About REPAY

REPAY provides integrated payment processing solutions to verticals that have specific transaction processing needs. REPAY’s proprietary, integrated payment technology platform reduces the complexity of electronic payments for merchants, while enhancing the overall experience for consumers and businesses.

Investor Relations Contact for REPAY:
repayIR@icrinc.com

Media Relations Contact for REPAY:
Kristen Hoyman
khoyman@repay.com

CDK Global Media Contact:
Tony Macrito
tony.macrito@cdk.com

Source: Repay Holdings Corporation