Fintech South 2024: Nathan Feather with PrimeRevenue

Intro: Broadcasting live from the Business RadioX studio in Atlanta, Georgia. It’s time for Atlanta Business Radio, brought to you by Kennesaw State University’s Executive MBA program, the accelerated degree program for working professionals looking to advance their career and enhance their leadership skills. And now, here’s your host.

Lee Kantor: Lee Kantor here, broadcasting live from Fintech South at the Woodruff Arts Center. So excited to be talking to our next guest, Nathan Feather, the CFO of PrimeRevenue. Welcome.

Nathan Feather: Thanks, Lee. Great to be here.

Lee Kantor: Well, I’m so excited to learn what you’re up to. Tell us a little bit about PrimeRevenue.

Nathan Feather: Sure. PrimeRevenue is a global leader in working capital and B2B payment solutions. More than 30,000 customers across the globe use our solutions to connect their financial supply chain, providing enhanced digital payments, visibility and certainty of payment timing, as well as rich remittance advice and improved cash flow.

Lee Kantor: So what’s the how the had the business get started?

Nathan Feather: Sure. So the business is actually a little over 20 years old at this point. And the business got started to solve an inefficiency in accounts receivable finance. For those who are familiar with it, there’s a number of different risks that take place when a company is trying to accelerate payment on accounts receivable. There’s fraud risks, there’s late payment dilution, all sorts of challenges that go into play. But what this does is, is it sort of flips the information flow and it starts with the buyer, not the seller. So we start with an approved accounts payable that really streamlines and makes efficient the financing process.

Lee Kantor: And then have you always been involved with Prime Revenue or how long have you been with the company?

Nathan Feather: I’ve been with the company for 18 years, so I joined in 2006. The very early days, I think there were maybe 15 or 20 people at that point, still looking for that first customer and those first transactions.

Lee Kantor: And then what’s the pain point a customer has where prime revenue is the right solution?

Nathan Feather: Yeah. So really it’s a company that has 1 or 2 particular things that they’re looking to do. One is to optimize working capital. So a focus on accounts payable. A focus on maybe extending payment terms to hold on to their cash longer, but without inflicting pain onto their supplier community. And the second is to provide their suppliers a better experience, to provide their suppliers visibility into what’s been approved, when payments are going to be made, and all of the remittance information that they need to apply those payments in their ERP systems.

Lee Kantor: And then why is this event Fintech South important to you and your firm?

Nathan Feather: Yeah. So I think we were at the first Fintech South, the one over at Mercedes-Benz, I don’t know, seven years ago maybe. It seems like a long time, but for us, we want to support the fintech community here in Atlanta. We’re proud members of Tag And it’s a chance for us to see what’s happening in the space every year, to check in with what’s new and what other folks are up to in in the fintech arena.

Lee Kantor: Now, is your solution kind of industry agnostic? Like you can help anybody in any industry. That’s right.

Nathan Feather: Industry agnostic. Sort of bank agnostic ERP agnostic. The only caveat I would say is businesses need to have a supply chain. So something like a bank or a consulting firm would probably not be a good customer for us. But anything in retail, manufacturing, automotive, consumer packaged goods, etc. are all great targets.

Lee Kantor: Now, is there any trends you’re seeing in the upcoming years?

Nathan Feather: Um, one, I think big trend that we’re seeing, it’s it’s been a kind of strange past couple of years, I think post Covid. There was a period in 2022 where everybody was stocking up on inventory because they were unsure about supply lines and their suppliers. In 2023, we saw a bit of a reversal of that, as well as a pretty sharp rise in interest rates. So now that we’ve settled in a little bit, I think, you know, what we’re actually seeing is more of a business as usual type of approach, to be honest. Folks are getting back to to managing their business with maybe more of a sense of optimism and certainty than they’ve had for the past 18 or so months.

Lee Kantor: So what do you need more of? How can we help you?

Nathan Feather: Um, more. More customers, more partners. Uh, Fintech South is a great place for us, and it’s a great place for us to, to meet, um, other businesses that are in the space that are doing, uh, and selling services that are adjacent to ours that we can partner with. I think I just heard your interview with, with Sarah and, um, you know, we’re looking forward to working with her and Iron Pay in the future. And that’s a relationship that came out of Fintech South.

Lee Kantor: Now, the um, when you talk about partners, what does a good partner like? What’s a good synergy for you guys?

Nathan Feather: Yeah, a good partner is someone who is in the payment space, um, and is connected to mid-market or large corporates, but doesn’t necessarily cover the space we are. So we pick up, um, you know, near the top end of the supply chain, we can go down pretty low. But, um, you know, there are other companies who are better served, probably in indirect goods or in the very small part of the supply chain. So looking to sort of cover the whole of the supplier community with a couple of partners.

Lee Kantor: So if somebody wants to learn more, have more substantive conversation with you or somebody on the team, what’s the website or best way to connect?

Speaker4: Yeah, the best.

Nathan Feather: Way to connect is at prime revenue. Com and you can just click contact us there and someone will get back to you.

Lee Kantor: Well Nathan, thank you so much for sharing your story today. You’re doing such important work and we appreciate you. Okay.

Nathan Feather: Thanks, Lee.

Speaker4: Appreciate it.

Lee Kantor: All right. This is Lee Kantor back in a few. At Fintech South.