The Receivables Exchange Hires Former Head of Sales for Lava Trading

The Receivables Exchange, the world’s first online marketplace for real-time trading of accounts receivable, today announced that it has hired Dana Stetson as Senior Vice President of Sales for The Receivables Exchange. Stetson has over a decade of experience selling complex solutions in the finance industry. Prior to joining the Exchange, Dana served as Head of Sales for Lava Trading, which was acquired by Citigroup. In addition, Stetson was the second employee and Head of Sales for Dynamicsoft, which was acquired by Cisco Systems.

“The market opportunity for The Receivables Exchange is enormous, both in the United States and globally,” said Richard Korhammer, the Exchange’s executive chairman and former co-founder and CEO of Lava Trading. “The addition of a seasoned sales management veteran who has successfully executed sales strategies into large marketplaces and maximized sales growth is obviously a key addition to what is already a very strong team.”

Through its innovative accounts receivable electronic trading platform, The Receivables Exchange (TRE) will connect a global network of accredited capital providers with millions of growth-oriented small and medium sized businesses in search of working capital.

“Dana was very successful in executing on our sales strategy at Lava Trading,” said Justin Brownhill, Co-Founder and CEO of The Receivables Exchange and a former senior executive at Lava Trading. “His deep knowledge of financial product sales as well as his ability to consistently exceed sales targets made him an invaluable member of the Lava team and will undoubtedly create long-term value for the Exchange.”

By introducing standardization and transparency to commercial receivables finance, the Exchange will allow capital providers to gain direct access to more than $17 trillion of annual business-to-business accounts receivable volume, and provide the nation’s small and mid-sized businesses with a new way to finance growth.

“The size of the market opportunity for The Receivables Exchange is tremendously exciting,” said Stetson. “The strength of the TRE team and its deep operational experience gives me confidence that the Exchange will successfully execute its plan and build tremendous value for America’s CFOs by fulfilling their critical need for growth capital.”

About The Receivables Exchange
The Receivables Exchange is the world’s first online marketplace for real-time trading of accounts receivable. The Receivables Exchange provides a new dimension in working capital management by connecting private companies to a global network of accredited capital providers who compete in real time to buy and trade receivables. Exchange participants benefit from flexible access to working capital finance at competitive rates. The Receivables Exchange is a fast and efficient way to manage working capital at a fraction of traditional financing costs. The Receivables Exchange has secured financing from Prism VentureWorks and Fidelity Ventures, the venture capital arm of Fidelity Investments. The Exchange’s trading platform is based on the New York Stock Exchange’s (NYSE) bond trading platform. For more information, visit www.receivablesXchange.com.