A C-level global leader brings extensive leadership experience transformational growth and strategic initiatives for high-tech companies.
MONTREAL, February 1, 2022 /PRNewswire/ – IOU FINANCIAL INC. (“IOU” or “the Company”) (TSXV: IOU), a leading online lender to small businesses (IOUFinancial.com), today announced the addition of Kathleen Miller to its board of directors.
“We are delighted to welcome Kathy Miller to our Board of Directors at this exciting time in IOU Financial’s history,” said Evan Price, Chairman of the Board of IOU Financial. “We are entering a phase of accelerated growth and we are privileged to have Kathy on our side to bring her vast experience in implementing scalable and transformational financial planning.”
Miller brings more than 30 years of experience driving double-digit growth and profitability in high-growth public and private SaaS, Fintech and other technology companies through finance, accounting, governance, strategy and operations of public enterprises. Kathy has a proven track record of building and scaling organizations to deliver transformational growth and brings an in-depth understanding of the entire M&A lifecycle, having led multiple organizations through M&A assessments. technology acquisition, due diligence and successful integrations.
“I am honored to join this dynamic organization as it seeks to maximize its exposure to the ongoing financial recovery in North America“We have an opportunity to build momentum as IOU Financial doubles down on leveraging technology, product innovation and expanded distribution strategies to fuel small business growth,” Miller said. .”
Kathy brings a deep understanding of strategic leadership, having successfully led M&A processes for several high-tech organizations, including Witness Systems (NASDAQ: WITS) (acquired by Verint) and MapInfo (NASDAQ: MAPS) (acquired by Pitney Bowes). Kathy received the Atlanta Business Chronicle CFO of the Year runner-up and nominee award and earned a master’s degree in legal studies from Fordham University and a BS in Accounting, cum laude from Alfred University. Kathy also sits on the board of Tecsys (TSX:TCS), a leading provider of complex supply chain and distribution management systems.
“Kathy brings an impressive financial management and strategic direction track record that enriches our Board of Directors in several key areas,” said Robert Gloer, President and CEO of IOU Financial. “Now is the right time to bring Kathy’s transformational approach and financial skills to IOU Financial’s next chapter of growth.”
In connection with Kathleen’s appointment to the IOU Financial Board of Directors, the Company granted options to Ms. Miller to acquire up to an aggregate of 55,000 shares of IOU common stock at an exercise price of $0. .2005$. These options have a term of five years from the grant date, with one-third (1/3) vesting immediately and one-third (1/3) vesting on each of the first and second anniversaries of the grant date. .
As first stated in his Second quarter 2021 financial results, IOU Financial is focused on 3 strategic pillars to drive growth: product innovation, expansion of distribution channels and investment in its proprietary IOU360 technology platform. In the past 6 months, IOU Financial launched 2 new products (the Cash back loan from IOU Financial and the 24 month term loan), hit a new all-time high for quarterly lending, announced the acquisition of $3.7 million convertible debentures in 2021 and outmoded 1 billion US dollars in the total number of loan issues since its creation.
About IOU Financial Inc.
IOU Financial Inc. is a wholesale lender that provides quick and easy access to growth capital for small businesses through a network of preferred brokers in the United States and Canada. Leveraging its proprietary IOU360 technology platform that connects underwriters, traders and brokers in real time, IOU Financial has become a trusted alternative to banks by creating more 1 billion US dollars in loans to finance the growth of small businesses since 2009. IOU trades on the TSX Venture Exchange under the symbol IOU (TSXV: IOU) and on the American over-the-counter markets under the name IOUFF. To learn more about IOU Financial’s corporate history, financial products, or to join our network of brokers, please visit www.IOUFinancial.com.
Certain information in this press release may contain forward-looking statements that involve important known and unknown risks and uncertainties. These forward-looking statements are subject to numerous risks and uncertainties, some of which are beyond IOU’s control, including, but not limited to, the impact of general economic conditions, industry conditions, dependence on regarding regulatory and shareholder approvals, the execution of definitive documentation and the uncertainty of obtaining additional financing. Readers are cautioned that the assumptions used in the preparation of this information, while believed to be reasonable at the time of preparation, may prove to be imprecise and, accordingly, undue reliance should not be placed on any forward-looking statements. IOU undertakes no obligation to update or revise its forward-looking statements, whether as a result of new information, future events or otherwise.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE IOU Financial Inc.