“We are thrilled to partner with Waud Capital and are excited to accelerate our presence throughout both the markets we serve and beyond,” said Rob Caulfield, Chief Executive Officer of TrustCommerce.
Santa Ana, CA (PRWEB)
September 15, 2017
TrustCommerce®, an innovator and leading provider of secure payments software and risk management solutions, today announced a strategic partnership with Waud Capital Partners, a growth-oriented middle-market private equity firm based in Chicago. Waud Capital and Andrew Rueff, an Operating Partner at Waud Capital, formed Sphere Payments LLC to facilitate the investment in TrustCommerce. Andrew Rueff, a seasoned executive with more than 20 years of payments technology experience, will serve as Executive Chairman of Sphere Payments.
The new partnership with Waud Capital Partners will accelerate the growth of TrustCommerce by infusing capital in order to enhance the current technology platform and advance products and services more rapidly. In addition, the partnership will facilitate access to new markets and widen penetration into the healthcare space. This will further solidify the Company’s position as an industry leader.
TrustCommerce serves more than 300 healthcare clients and processes over $20 billion annually. In addition to healthcare, TrustCommerce provides services to the nation’s largest insurance companies, municipalities, parking and transit organizations, and Fortune 500 companies.
“For more than 17 years, TrustCommerce has achieved significant growth, innovation, and excellence in payments security software and technology,” said Rob Caulfield, Chief Executive Officer of TrustCommerce. “We are thrilled to partner with Waud Capital and are excited to accelerate our presence…