Supply Chain Finance Adding Middle Market Companies

All eyes on The Hague: Part One

When it comes to supply chain finance mid-market companies will no longer be left out in the cold.

Late payments still hamper the growth of the European economy as well as the ability of European companies to hire more employees, according to the 2015 European Payment Report. Credit management services company Intrum Justitia gathered data from thousands of companies across Europe to gain insight into the payment behavior and financial health of European businesses.

While findings indicate that one third of European companies see late payments as a threat to their long-term survival and identify the ability to predict cash flows as key to their financial stability, the report launches a call to action for policy makers and businesses to work together to boost the European market by creating a financially sustainable society for corporations. For this to happen, the report concludes, strong incentives for proper payments need to be in place.

Governments are aware of this need and have recently taken actives steps to promote economic growth through supply chain finance, especially for middle market enterprises who are most vulnerable to payment term extensions and tight credit markets. The Netherlands, the US and the UK have launched initiatives to strengthen middle market enterprise relationships by encouraging supplier financing solutions. These initiatives improve the financing options of companies and give them access to the working capital they need for growth.

The UK was one of the first countries to roll out a Supply Chain Finance Initiative in 2012 to help small, local businesses get paid earlier at attractive terms. The European Late Payment Directive was launched in 2013, and in the US the federal government’s QuickPay initiative accelerated over $220 billion in payments to contractors. SupplierPay, a renewal and counterpart of QuickPay launched in 2014, involves commitment from corporations to expedite their payments to their suppliers, allowing those companies to free up more working capital. Some of the largest corporations in the US signed on, including Apple, Lockheed and The Coca Cola Company.

Fast Payments for (almost) all – but what about those who get stuck in the middle?

Supply chain management is complex for all businesses within the supply chain regardless of their size, industry, and location. However, it is especially complicated for middle market corporations finds a recent GrowthCap report.

Smaller businesses are often ‘wedged’ between trading partners in the supply chain, explains the GrowthCap report. The provider of raw materials to the middle market corporations is usually a large company. On the other side the buyer is in most cases an even larger corporation. It is the middle market corporation that typically is a key link in the supply chain and yet has the most difficulty accessing support for working capital. There are several reasons for this, including their size, financial strength and limited track record.

Furthermore, middle market corporations tend to have less experience, credibility and bargaining power in the marketplace compared to larger suppliers and buying organizations. The knock-off effects of middle market corporations suffering from late payments are significant to overall business growth. When they receive their money late, they are forced to pay their own suppliers later; this makes the punishing effect of late payments resonate throughout the supply chain.

Thankfully, there is support for middle market corporations in their quest for minimized working capital exposure through supply chain finance, which works by optimizing cash flow and working capital by allowing buying organizations to lengthen their payment terms to their suppliers, while also providing an alternative option to their suppliers to get paid early. This results in optimized working capital for the buyer and enhanced cash flow for the supplier, while minimizing risk throughout the supply chain.

Despite the opportunities available for improving efficiency and quality of supply chains through working capital financing for middle market corporations, the widespread use has been met with resistance, making the solutions virtually impossible. Until now, that is.

Where there’s a Will There’s a Way: Dutch Government Task Force Delivers Best-in-Class Supply Chain Finance Solutions to SMEs

One of the most prominent examples where the strategic collaboration between policy makers, corporations, and technology providers produces great results by tackling the problem of late payments for middle market enterprises is BetaalMeNu (Pay Me Now), the supplier financing initiative launched by the Dutch government in late 2015

BetaalMeNu seeks to unlock €2.5 billion in liquidity for Dutch SMEs in the next five years. It aims to do this by mobilizing 50% of the top 1,000 corporates to offer their suppliers the opportunity of faster payment, or fast financing, of their invoices. Heineken Nederland, Randstad, Jumbo and FrieslandCampina have already expressed interest to participate.

In the fall of 2015, the Supply Chain Finance Community Forum took one step further and issued a Request for Information (RFI) on behalf of a group of Dutch multinational corporations inviting over 30 bank and non-bank platforms to demonstrate best-in-class methods for applying supply chain finance solutions to Dutch middle market corporations.

Out of over 30 initial expressions of interest, six vendors were shortlisted to present their solution, including PrimeRevenue. Oliver Belin presented the Company’s response and discussed how PrimeRevenue has successfully operated several supply chain finance programs in The Netherlands for over a decade, with its unique platform that provides supplier onboarding and support in Dutch. Furthermore, PrimeRevenue understands the importance of middle market companies and has supported them since the company’s inception in 2003.

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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.