Priority Technology Holdings, Inc. Has Entered Into Stalking Horse Agreement with Plastiq, Inc.
Summary
“The synergies between our respective B2B payment assets will help business owners optimize their cash flow and working capital strategies,” said Thomas Priore, Chairman and CEO of Priority. “We will quickly help Plastiq optimize and scale operations, immediately increase distribution channels, and provide complimentary B2B resources and strategic vision to drive their success and our investors’ long term enterprise value. Priority is a payments technology company that leverages a purpose-built platform to enable clients to collect, store and send money, operating at scale. Priority’s solutions are offered via API or proprietary applications with nationwide money transmission licenses, providing end-to-end operational support including automated risk management and underwriting, full compliance and industry leading customer service. Plastiq has helped tens of thousands of businesses improve cash flow with instant access to working capital, while automating and enabling control over all aspects of accounts payable and receivable.