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Capital Access Network Announces Advisory Board For Launch Of Online Lending Platform CapTap

NEW YORK “ November 27, 2012 Capital Access Network, Inc. (CAN), a next-generation small business finance provider, has named an advisory board to guide the launch and growth of its latest offering to small businesses, CapTap. Comprised of industry leaders in financial services and technology, these innovators and entrepreneurs have first-hand experience in building successful businesses “ insight which will assist CapTap in developing and providing financial solutions to help more of America’s small businesses achieve success.

Key members of the advisory board include Nigel Morris, co-founder of Capital One Financial Corporation and managing partner of QED Investors; Kevin Efrusy, general partner of Accel Partners; and Meyer Micky Malka, founder of Ribbit Capital.

We are pleased to announce the creation of the CapTap advisory board comprised of proven financial and technology industry visionaries to help guide the launch and growth of our new online small business lending platform, said Glenn Goldman, CEO of Capital Access Network. The old model for assessing risk and providing small businesses with access to capital is broken. With CapTap, we are bringing to market new online capabilities that enable us and our strategic distribution partners to provide small businesses with access to more innovative financing solutions that help them grow and succeed.

Nigel Morris co-founded Capital One Financial Corporation with Richard Fairbank. He is currently the managing partner of QED Investors, a direct investment fund focused on high-growth companies that leverage the power of data strategies. In addition, he works in an advisory capacity with General Atlantic Partners and Oliver Wyman. He serves on the board of numerous for-profit companies, including Red Ventures, Prosper, Media Math, Klarna, and Braintree. He also serves on the board of the Brookings Institution, National Geographic Ventures, ideas42, and the London Business School.

Kevin Efrusy is general partner at Accel Partners, which he joined in 2003. Also a successful entrepreneur, he started Corio, an ASP/SaaS pioneer that went public on Nasdaq and was acquired by IBM in 2005. Additionally, he built and served as the first CEO of IronPlanet, an online marketplace for heavy equipment with current annual gross sales over $500 million. Prior to his entrepreneurial career, Kevin worked at Zip2 and Bain & Company. He currently serves on the boards of BranchOut, Couchbase, Mindlab, and Medio Systems amongst other companies and previously served on the boards of Groupon, Springsource (purchased by VMWare), and Xensource (purchased by Citrix). He also sourced Accel’s investment in Facebook.

Meyer Micky Malka is an entrepreneur and investor, focused on the utilization of technology to disrupt consumer financial services. Based in Palo Alto, Calif., Malka is the founder of Ribbit Capital a venture capital firm looking to invest in unique individuals and brands that are on a mission to disrupt financial services globally. He is also the co-founder and chairman of Lemon, Inc. Malka serves on the Board of Wonga and the Board of Peixe Urbano.

About Capital Access Network, Inc.
Since 1998, Capital Access Network, Inc. (CAN) has provided small businesses access to $2.5B in working capital through its subsidiaries, NewLogic Business Loans, Inc. and AdvanceMe, Inc. CAN’s award winning technology platform automatically evaluates a multitude of business performance variables by integrating big data from firmographic, banking, and credit card processing sources with proprietary risk models built from over 100,000 transactions over multiple business cycles in over 650 SIC codes. This enables CAN to have unparalleled insight into the strength of the business and provide access to capital based on business performance rather than personal credit scores of the business owners. CAN also supports small business finance providers desiring more finance options for their own customers in the U.S. and internationally. All business loans obtained through NewLogic Business Loans are made by WebBank, a Utah-chartered Industrial Bank, Member FDIC.

CONTACT:

Kate Finnerty
Allison+Partners for Capital Access Network
646.428.0635
[email protected]

Alexandra Gardell Kreuter
Allison+Partners for Capital Access Network
646.428.0618
[email protected]