RCS - Reach - Reach Secures Major Primus Capital Investment

Royal Bank of CanadaAnnouncement

20/02/2025 16:15

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RNS Number : 8440X  Reach  20 February 2025

Reach Secures Major Investment to Accelerate Its Global Expansion and Fuel
Enterprise Merchant Growth

Backed by a Significant Investment From Primus Capital, Reach is Positioned to
Deliver on Its Ambitious Growth Trajectory in 2025

CALGARY, ALBERTA / ACCESS Newswire (https://www.accessnewswire.com/)  /
February 20, 2025 / Reach, a leading global Merchant of Record (MoR)
solution, is proud to announce a strategic investment from Primus Capital that
will help the company scale its operations, accelerate its aggressive product
roadmap, and augment its existing world-leading payments, tax compliance, and
fraud protection solutions for retail and SaaS businesses worldwide.

Reach Official Logo

Annual Gross Merchandise Volume (GMV) for Reach grew 95% year-over-year in Q4
2024 and the organization is primed to extend its leadership in the enterprise
MoR market. The investment by Primus Capital will primarily be used to enhance
support for enterprise businesses, further develop its ecommerce product mix,
and expand its existing global entity network into additional in-demand
markets.

"We're thrilled to have Primus as a strategic partner as we continue to scale
our solution for global merchants," said Sam Ranieri, CEO of Reach. "This
investment will allow us to strengthen our infrastructure, expand our
international coverage, and empower our clients to unlock new markets and
optimize cross-border operations with ease."

According to Ron Hess, Managing Director at Primus Capital, investing in Reach
came down to a strong belief in the company's value. "We've built a
relationship with Sam and his team over the past few years and have witnessed
the return on investment realized by Reach's customers. The company's
impressive growth is driven by its innovative approach to solving the pain
points of global expansion for retail and digital businesses. This investment
will help fuel the company's efforts to continue delivering unparalleled value
to enterprise customers in the face of the challenges of a globalized
marketplace," Hess said.

As a byproduct of this partnership, Reach is investing in new technology
infrastructure and augmenting its team to support its evolving and rapidly
growing customer base while concurrently developing its ecommerce product
suite. The company's expansion will further simplify cross-border transactions
for its clients, which empowers businesses to focus on innovation while Reach
handles the complexities of payments, tax, and fraud mitigation at scale.

Leveraging a Merchant of Record is essential for mid-market and enterprise
businesses already active in cross-border ecommerce who need to unlock new
levels of efficiency, revenue, and international performance. As businesses
scale globally, managing local tax regulations and staying compliant with
fluctuating tariffs and legal requirements becomes increasingly complex. An
MoR simplifies this process by automating tax calculations and ensuring
compliance across multiple markets, with much faster time to market than going
alone.

"Given the current uncertainty surrounding international trade and
cross-border sales, it's critical for us to provide the most simple, robust,
and complete global solution for our clients," Ranieri said. "The investment
from Primus will help us strengthen our position as a world leader in
ecommerce while continuing to find innovative ways for our clients to navigate
the complex financial and regulatory borders standing between them and their
customers."

RBC Capital Markets acted as the exclusive financial advisor to Reach on the
transaction, and Osler, Hoskin & Harcourt LLP and Taft Law acted as legal
advisors. Goodwin Procter LLP acted as legal adviser to Primus

For more information about Reach's solutions and upcoming initiatives, please
visit www.withreach.com
(https://stats.nwe.io/x/html?final=aHR0cDovL3d3dy53aXRocmVhY2guY29t&sig=6YmScbxcRbSlqPWhy17MaGGa94AE3_vV0sb4Z7uxWLyRgmnFk3rJekyGpiim2vehErP2WvwGSiYPW9RVZk63eg&hit%2Csum=WyI0czZ0dzUiLCI0czZ0dzYiLCI0czZ0dzciXQ)
.

ABOUT REACH

Reach is the leading Merchant of Record (MoR) solution designed for mid-market
and enterprise ecommerce retailers and SaaS businesses. Reach allows
businesses to effortlessly activate global capabilities within the platforms
they already use, optimizing payments, fraud prevention, tax compliance, and
localized customer experiences - all with no new systems or complex
integrations. Businesses can easily activate powerful global features,
streamlining cross-border operations and reducing costs. Trusted by global
brands, Reach helps improve transaction approval rates and unlock the full
potential of existing systems, enabling businesses to scale internationally
with ease.

Contact Information

Andrew Cunningham

Head of Marketing & Media

marketing@withreach.com

15875745011

SOURCE: Reach

 

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