Today Aliaswire, Inc., a leading provider of innovative payment and financial technology services, announced that Onboard Partners, LLC has acquired its Payvus small business credit card issuing and capital management business.
The acquisition of the Payvus business, technology and intellectual property will expand Onboard’s already successful financial services advisory, marketing and portfolio management capabilities with an innovative new platform that is specifically designed to meet the unique needs of small business owners.
“We have worked closely with the Aliaswire team as a strategic partner since they first launched the Payvus solution and we both agreed that continuing to build the business as part of the Onboard platform would significantly accelerate its growth and reach,” said Scott Shaw, CEO of Onboard. “More importantly, in leveraging the innovative Payvus platform and Onboard’s deep domain expertise, we can bring a compelling new offering to our diverse array of partners and clients that will open up new revenue and portfolio management opportunities in the long underserved small business market.”
First launched as a beta product in 2020, Payvus quickly demonstrated that there was a strong market demand for its unique credit offering when it delivered consistent 100% month over month new cardholder acquisition. Working with leading go-to-market partners that represent acquirers, issuing banks, independent technology providers and service providers, Payvus is now available to millions of small businesses who need access to short term revolving credit and better tools for managing their cash flow. With its innovative and proprietary underwriting, flow of funds and capital management platform, Payvus manages a portfolio of small business cards that spend above the industry average while maintaining a loss rate that is a fraction of a typical portfolio.
“We’re excited that Onboard will provide Payvus with a new foundation to continue to innovate and grow,” said Jed Rice, CEO of Aliaswire. “Given our long-standing relationship with Onboard and their unmatched expertise in this space, this is the perfect home for the business and the team. We are confident that Onboard will give Payvus what it needs to reach its full potential.”
“All of our focus now will be on our market-leading flagship business, DirectBiller®,” continued Rice. “Over the past three years the DirectBiller team has consistently delivered 50% year-over-year revenue growth and increased our total payment transaction volume by over 230%. I am excited for the next phase of our growth as a more focused and nimble company.”