Why Bank Independent Supply Chain Finance Platforms Have Taken the Lead

Why is multi-funding the talk of the town?

There has been a lot of discussion in the market around the benefits of open, bank independent, multi-funder supply chain finance platforms. As Trade Financing Matters emphasizes, the new ideal in supply chain finance centers around the rapid deployment of programs managed by open platform providers that supply multiple sources of funding for corporations while preserving customer standardization. Along the same lines, GTR’s Liz Salecka comments that with the increasing corporate demand for large supply chain finance programs, the need for multiple funders to participate in such financing has become paramount. She concludes that “third-party vendors have taken a lead in helping to resolve the challenges this presents by offering bank-neutral supply chain finance platforms that bring multiple banks together for large programs.” This focus comes with a deeper shift in thinking and demand around supply chain finance, particularly in terms of complex global corporations and their need for multi-funding solutions. The emphasis is now on flexibility and scalability of these different multi-funding solutions, including banking and non-banking funding sources.

Multi-funding solutions are essential for overcoming bottlenecks and potential credit inefficiencies found in the use of single bank supply chain finance programs. Diminishing balance sheets have made it harder for corporates to source funding and the retreat of some banks from supply chain finance programs have resulted in corporates setting up multiple facilities with different funders.

This raises issues of efficiency and intricacy around the implementation of different supply chain finance platforms, as well as the handling of legal documentation and the onboarding of suppliers. Therefore, it comes as no surprise that the 24,000 plus readers of Global Trade Review (GTR), in addition to the largest financial institutions in the world,  selected PrimeRevenue’s bank independent multi-funder platform as the winner in the Best Supply Chain Finance Platform category – for the 5th year. What are the options for setting up supply chain finance programs, and why are many leading corporations choosing multi-funder platforms? When a corporation sets out to implement a supplier finance program, there are four general options to consider.

Option 1

The buyer sets up its own supply chain finance platform and manages the liquidity with its corresponding bank.

In this situation, the buyer processes all invoices and payments as well as the onboarding of suppliers. This solution is very costly and time intensive and has been used by only a few corporates (e.g. Metro Group).

Option 2

The buyer sets up a supplier finance program with one leading bank providing a proprietary platform.

While this solution can work with well-rated buyers, it does impose limitations in terms of credit appetite by the leading bank, funding currencies and jurisdictions from which the bank can purchase the receivables. With this solution, the leading bank can invite other banks to participate. However, participating banks have to follow the rules of the lead bank and participation fees are paid to that bank. Due to lack of competition, funding spreads are typically higher for such programs. Furthermore, financial institutions competing with the lead bank are not able to establish relationships with the buyer, and the buyer has little control over who is buying the assets in the secondary market. Once these kind of limitations are encountered, this solution is often replaced by a multi-funding platform.

Option 3

The buyer can choose to diversify their bank independent program across multiple banking platforms so that they are not limited by one bank’s ability to offer financing to all suppliers.

This solution may reduce the dependency on one bank, however, it requires multiple ERP connections from the buyer, different platforms for the suppliers and buyer to use, different enablement and onboarding processes and different sets of legal documentation. This adds considerable complexity to the supply chain finance setup.

Option 4

An increasing number of buyers use PrimeRevenue’s open multi-funder, bank independent model, which provides the best options in terms of flexibility and control.

With this solution, the buyer is not dependent on one bank’s ability to syndicate the entire supply chain program. This open platform allows the use of only one set of agreements, one ERP interface, one system, and one supplier onboarding process. The PrimeRevenue solution also allows buyers to fund some or all of the program themselves and create a better user experience for the suppliers. With this open model, funding institutions can connect directly with PrimeRevenue to fund on the platform and can also have a direct relationship with the buyer and their suppliers. Furthermore, this model solves the problems associated with closed, bank-proprietary solutions which are typically limited in scope and scale, instead giving the buyer the control and flexibility required to unlock cash trapped in their supply chains. Leading corporations such as Whirlpool, Sainsbury, Volvo, Kohl’s and Big Lots are achieving success using PrimeRevenue’s multi-funder supply chain finance platform.

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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.