Exectras, a provider for small and midsized businesses seeking everyday business services, including merchant services, payroll, health insurance and workers’ compensation, completed debt financing from Tacora Capital for up to $30 million. Exectras will use the funding for acquiring merchant portfolios, organic growth initiatives and internal infrastructure development.
Exectras provides businesses access to heavily discounted business services and provides benefits and perks, including zero cost access to virtual primary care and prescription drug coverage. Its product partners include First American by Deluxe, AJ Gallagher, Paychex, Allstate, One Digital, Zebit and Walmart Health.
In addition to its core benefits offering, Exectras originates and acquires credit card residuals and merchant portfolios representing billions of dollars of annual processing volume. Tacora’s funding will be crucial in expanding this capability.
“As long-time backers of the entrepreneur economy, we are thrilled to support Joe and the Exectras team as they continue to build a platform that helps business owners thrive,” Keri Findley, CEO of Tacora, said. “We look forward to a long-term relationship with Exectras and its customers.”
“We are grateful to have a partner in Tacora that understands our business and is committed to our growth,” Joseph Cherry, president and CEO of Exectras, said. “As entrepreneurs themselves, they understand how valuable our services can be. We look forward to an extended partnership.”
SFT Capital served as arranger/adviser on the transaction.
