Reformation Logistics: How PrimeRevenue Turned Our Ambition into Reality

This is a guest post by Alex Lomas, Director of Reformation Logistics. In the below blog, Alex shares his experience with supply chain finance and how it helped him and his co-director start a new business in the midst of a global pandemic.

In my 16 years in the commercial logistics industry – several of them on the owner/operator side – I’ve come to understand firsthand how early payment can provide a precious financial advantage to a growing company. But in the last year, that understanding took on new meaning as my business partners and I did the unthinkable. We launched a business during a pandemic. And it wouldn’t have been possible without PrimeRevenue.

Like many businesses, ours was borne from our experience working with another venture – in this case, another freight transport services provider. Growing that company had been a fairly standard affair from an operations perspective. We grew our business month-by-month, truck-by-truck as cash flow allowed. When one of our customers, DFDS, launched a supply chain finance programme with PrimeRevenue, we were eager to participate. Better cash flow opened doors for us to grow the business.

Launching Reformation Logistics when and how we did was an ambitious endeavor. We were fortunate in that we were able to secure a large multi-national logistics company as one of our inaugural customers. But, unlike our experience in the previous operation, we needed to grow our infrastructure all at once to meet customer demand. A slow, linear ramp-up wouldn’t do. We needed 10 trucks on the ground on day one. That was challenge number one.

Challenge number two was the commercial banking climate in the UK. Whilst the logistics industry has fared rather well during the pandemic, commercial banking has been overwhelmed. Here in the UK, like elsewhere, many banks have been consumed by administering bounce back relief programmes to small businesses. That’s great if you’re an established business – not so much if you’re a trying to get a new business off the ground. There isn’t a strong focus on new business lending, which was a problem for us.

To secure and maintain our operators’ license, we needed to keep a certain amount of funds in our bank account at all times. We had this covered. But this lump of money, which would otherwise be spent on building up our fleet, was effectively untouchable. Early on, we realised we needed another avenue to help us with startup costs.

Positive cash flow on day one

When we were looking at breaking away from the old business and starting a new venture, we knew the only way to make it happen was to participate in DFDS’s PrimeRevenue-led supply chain finance programme. We needed positive cash flow on day one and early payment could give us that.

We approached PrimeRevenue outright about participating in the early payment programme. We hadn’t yet been approved as a supplier, but the team at PrimeRevenue did the legwork for us and ushered us through the approval process. In fact, I was setting our business up with PrimeRevenue even before our operator’s license was fully granted.

They also helped us spot and tackle an unexpected roadblock, which could have been disastrous for us. Just two weeks before going live, we discovered our bank couldn’t provide us with an international bank account number (IBAN), which we needed to process cross-border transactions. Talk about a moment of anxiety – we had already purchased £10,000 in fuel and here we were unsure if we could process our first payment. Thankfully, PrimeRevenue helped us find other options and we were able to secure an IBAN.

Fueling our ambition one early payment at a time

It’s impossible for me to overstate how important supply chain finance is to Reformation Logistics. Our business plan is fundamentally linked to PrimeRevenue. In the first six months, we accelerated payment on £565K in invoices. We were able to access the funding we needed to invest in our fleet whilst retaining what we needed to show in the bank. Smoother cash flow has been vital in helping us grow. We’ve set it up so that every invoice we submit to our customer is automatically traded for early payment. Today, we’ve grown our operations to include 20 trucks, 25 drivers, and 5 staff.

As a business owner, the advantages of supply chain finance are irrefutable. It’s a better alternative than other early payment schemes that tend to be more costly for suppliers and less beneficial to the buyer.

Why share our story? We feel like we owe it to other businesses out there to share how important supply chain finance has been to our success, and how they could use it to their own advantage. The platform gives us visibility into invoice status with our customer so there are no more guessing games as to whether an invoice has been approved or when we are expected to receive payment. We also have enhanced flexibility to advance payment when we need it and take control of our cash flow. That is key to a growing a new company, and PrimeRevenue has been the right supply chain finance partner to truly change the trajectory of our business.

My business partners and I wanted to start a logistics company that matched our values and ethics – a place where there was mutual respect between management, employees, and customers. PrimeRevenue helped us make our ambition a reality.

Watch this short video to learn more about the DFDS supply chain finance program.

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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.