Not Sure if Supply Chain Finance is an Option? It Might be More Viable Than You Think

Of the misperceptions surrounding supply chain finance, one of the most common is that it’s reserved for large, publicly traded or investment grade companies. That’s not true – or at least not anymore.

When choosing a supply chain finance provider, companies have historically been limited to either relationship banks or fintechs with limited liquidity sources. These providers take a very conservative approach by primarily targeting investment grade companies and maintaining a low risk tolerance for creditworthiness. This has been particularly true during recent global economic disruptions that prompted many banks to further tighten credit lines and reduce their risk tolerance. As a result, the middle market, which is mostly made up of private equity (PE) owned or non-investment grade companies, has effectively been dismissed from supply chain finance.

The implications of not having equal access to supply chain finance have been made even more obvious amid a volatile business climate. Widespread liquidity crunches, fluctuations in demand, and transformation acceleration have resulted in many mid-market companies (and their suppliers) facing even greater cash flow challenges than their larger or higher-rated peers. This presents a Catch-22 in many respects. As traditional lending options have become more scarce or unattractive, more mid-market companies have become interested in supply chain finance, which unlocks millions of dollars in working capital trapped in the supply chain. This is capital that can be used to keep pace with transformation, inject agility into the supply chain, fund profitable growth, or reduce debt.

Case in point: After realizing firsthand the benefits of supply chain finance as a supplier, one mid-market manufacturer decided it wanted to provide those same benefits to its suppliers through implementing its own program. However, most funders had little to no appetite for the middle market at the time. PrimeRevenue changed that by broadening the pool of funders the manufacturer had access to, and the multi-funder model allowed multiple funders to participate in the supply chain finance program.

Over the past several years, the supply chain finance landscape has evolved significantly, especially regarding funding opportunities. Not only are PE-backed and non-investment grade companies becoming increasingly interested in supply chain finance (especially now as disruption gives way to recovery), but both traditional and non-traditional funders’ credit appetite for this sector and high performing assets have increased as well. This has opened additional funding opportunities for mid-market companies—and for third party providers like PrimeRevenue.

PrimeRevenue has onboarded numerous funding partners that are interested in providing liquidity for companies that are non-investment grade with an annual revenue between $100 million and $2 billion. Since we don’t rely on syndication or a single source of funding, we are able to leverage our growing network of 100+ funding partners to source liquidity for enterprises as well as middle market companies. Our funding network ranges from large, multinational banks to non-traditional funders like regional banks, insurers and capital markets that have a more diverse appetite for risk and are subject to fewer regulatory constraints.

Aside from the obvious cash flow benefits, middle market companies have found other positive impacts of supply chain finance. In addition to funding strategic growth and innovation initiatives, some of our clients are using supply chain finance to pay down debt and actually improve their credit rating. One client, a PE-backed global caffeinated beverage company, was non-investment grade prior to partnering with us. Through a PrimeRevenue-led supply chain finance program, the company generated enough free cash flow to pay off 15 percent of its debt. This was instrumental in S&P’s decision to upgrade the company’s rating a total of three times in a single year. As a result, the interest cost across all of their remaining debt was reduced, which saved the company millions of dollars every year, and the company was upgraded to investment grade.

If you’re interested in supply chain finance—whether to emerge from disruption, fund your next strategic initiative, or improve your corporate credit rating—but aren’t sure it’s a viable option, I encourage you to explore your options. There are significant opportunities for mid-market companies to accelerate cash flow and experience the benefits of improved working capital.

Share on facebook
Share on twitter
Share on linkedin
Share on email

Stephanie Wargo

VP, Global Head of Marketing

Stephanie joined PrimeRevenue in 2015 and oversees the company’s global marketing team and strategy. With a data-driven approach, Stephanie focuses on demand generation and thought leadership to drive brand awareness, strengthen client/partner relationships, and generate new sales opportunities. Stephanie has guided PrimeRevenue through new technology releases and an evolving FinTech landscape. In addition to leading PrimeRevenue’s internal and external communications, she implemented innovative demand generation and marketing strategies to enhance the company’s overall sales pipeline.

Stephanie has extensive experience in marketing and customer success. She previously served as Vice President of Marketing and Communications at BitPay and Vice President of Client Relations and Marketing at FirstView Financial. Stephanie earned a B.A. degree in Political Science from Agnes Scott College in Decatur, Georgia.

Brian Medley

VP, Global Head of Sales

Brian joined PrimeRevenue in early 2012, after more than 20 years of sales leadership, executive-level consultant and business growth experience. As VP, Global Head of Sales, Brian leads a growing team of fintech sales professionals with a focus on developing strong customer relationships, improving sales predictability and helping PrimeRevenue enter the lucrative mid-market.

Prior to PrimeRevenue, Brian honed his enterprise software sales leadership skills at Clarus Corporation. He also served as an operations and IT management consultant for Kurt Salmon Associates. In addition to his sales and consulting background, Brian has deep experience in the financial industry having founded a successful residential mortgage broker and lending business. He is a graduate of the Georgia Institute of Technology having earned a B.S. in Industrial Engineering and Economics and M.B.A. in Global Business.

Jason Green

SVP, Global Customer Success

Jason joined PrimeRevenue in 2021 following more than two decades in the fintech/financial services industry. He brings a strong background is sales leadership due to his impressive relationship building capability as well as a successful track record in creating structure and process improvements. In his role, Jason uses his keen attention to detail to strengthen the customer experience and enhance the company’s solutions to deliver more value to clients.

Prior to joining the company, Jason held several senior level and executive roles with a focus on building and scaling sales and support organizations at both large and small companies. Jason graduated from Murray State University with a B.S in Marketing.

Matt Ford

SVP, Global Product Innovation

Matt joined PrimeRevenue in early 2015 and is responsible for overseeing all commercial, strategic and operational aspects of PrimeRevenue’s supply chain finance offerings throughout EMEA, based in Prague. He has been instrumental in gaining global alignment and developing supplier enablement processes for the region.

Matt joined PrimeRevenue following a 15-year career at Morgan Stanley, where he worked in fixed income operations covering debt syndication through bonds, EMTNS, corporate loans and other debt securitization. Notably, he set up non-core location operations in Europe (Budapest) and all lending operations in Baltimore from scratch.

Matt, who was born and raised in South East England, earned a B.S. in Sports Science at University of Teesside where he mastered the art of TEAM development and accountability as a youth international rugby player.

Dominic Capolongo

EVP, Global Head of Funding

Dominic joined PrimeRevenue in 2016, and is responsible for leading our bank and capital markets funding strategies and execution. He focuses on building global, scalable and highly efficient funding structures that maximize options for supporting PrimeRevenue’s programs. Dominic began his career as an attorney and was a partner with Kaye Scholer before joining DLJ as a senior banker. Dominic brings tremendous strategic and capital markets experience in all areas of finance having held senior positions at, among others, Credit Suisse and RBC Capital Markets in addition to DLJ. Dominic earned a JD from Fordham University School of Law and a BA from SUNY Binghamton.

Gavin Cicchinelli

Chief Operating Officer

Gavin joined PrimeRevenue as Chief Operating Officer in 2021. With more than two decades of leadership and executive experience along with a deep understanding of the payments space, Gavin provides a unique focus on improving and strengthening operational strategies and implementing GTM growth execution. He is responsible for leading transformation across corporate and operational strategies as well as building a repeatable and scalable commercial growth strategy that aligns with PrimeRevenue’s core business while delivering key adjacent growth opportunities.

Prior to joining PrimeRevenue, Gavin served as President and Chief Revenue Officer of Integrated Solutions at TSYS, a global payment processing services company acquired by Global Payments (NYSE:GPN). There, he also served as Head of Product and divisional COO. Throughout his career, Gavin has held multiple leadership positions including VP of Sales, SVP of Business Development, and President of Financial Institutions. Gavin graduated from the University of Northern Colorado, Greeley.

David Quillian

Chief Legal Officer

David joined PrimeRevenue as General Counsel in 2007. He and his team have been instrumental in successfully creating the unique legal structures that support PrimeRevenue’s multi-funder model and global funding capabilities. David is also the lead named inventor on PrimeRevenue’s two patents for Electronic Time Drafts, which allow PrimeRevenue to manage supply chain finance programs using electronic negotiable instruments as opposed to accounts receivable. Prior to PrimeRevenue, David was General Counsel at Harbor Payments, which was acquired by American Express (AXP) in 2006, and Magnet Communications, which was acquired by Digital Insight (DGIN) in 2003. He holds degrees in Economics and History from Duke University, and Juris Doctor and M.B.A. degrees from the University of Georgia.

Nathan Feather


Nathan has successfully ushered PrimeRevenue from our very early days as a visionary startup, through the financial crisis to today’s position as a thriving mid-sized leader in the cloud-enabled supply chain finance marketplace since joining PrimeRevenue in January 2006. He was instrumental in recapitalizing the company with an $80M investment led by BBH Capital Partners in 2015. Prior to PrimeRevenue, he held various financial management roles with Ariba, Freemarkets and PriceWaterhouseCoopers. Nathan holds a BS in Accounting from Pennsylvania State University.

PJ Bain


PJ has an impressive and accomplished track record as an enterprise software entrepreneur and executive. PJ has built a solid record of success with PrimeRevenue since being appointed Chief Executive Officer in July of 2009. The company has received numerous awards for growth, customer service, innovation, along with being recognized as a top employer.

PJ is a life-long software and technology entrepreneur having been involved in numerous firms in the roles of founder, executive, advisor and investor. Immediately prior to PrimeRevenue, PJ was the VP and General Manager of Exact Holding N.V. (NYSE/AMS: EXACT), a leading global provider of business software solutions. He was previously Founder and CEO of Inspired Solutions, an Atlanta-based, B2B software and services firm that grew to be the largest reseller of Exact Software in North America, later acquired by Exact. PJ holds a Bachelor of Industrial Engineering from Georgia Institute of Technology.