We are pleased to announce the appointment of Fiona Timothy as Chairman of CashFac.
Amongst other board memberships Fiona is Chief Executive and Chairman of COA Solutions Ltd, a business of 650 people owned by Alchemy Partners. Fiona was introduced by Jon Moulton, Founder of Alchemy and investor in CashFac.
Fiona is also Vice Chairman, Technology Leadership Group within Princes Trust. This is a charitable organisation raising funds to enable young people from disadvantaged backgrounds get a better start in life through training or business loans and mentoring.
Fiona has a track record of enhancing value for shareholders and guiding management teams through growth and profit strategies. This record is fully illustrated by Fiona's leading role following the purchase by Alchemy of Cedar PLC and the subsequent strategy including acquisitions which has resulted in a business that returns 20% EBITDA for its investors.
Fiona has BA in Economics and Economic History from Warwick University.
Fiona's appointment comes at a time of growth at CashFac including the successful delivery of managed services to leading financial service businesses. CashFac's revenues are up 30% over the same period last year which has seen major new wins and the successful launch of CashFac's Series 3 of CashFac Virtual Bank Technology and the first sales of the all new A2Pay. CashFac is a private company with a broad base of shareholders including venture capital funds from the UK and US, Sybase, founder Paul Ormrod, and private shareholders including CashFac staff who have acquired a stake in their business through the staff share purchase scheme. CashFac has no debt and it has a continuous record of real profitability.
Chief Executive Paul Ormrod welcomed Fiona at CashFac's recent AGM: "I am very pleased to introduce Fiona who is providing most important guidance in business development as we transition from a technology innovator to sustained growth, deeper service offering to our customers and new market penetration. "