Sector(s): FinTech
Status: Exit
StarVest Company Since: October 2011
In October 2011, StarVest joined an investment team of the New York Stock
Exchange Euronext (NYSE), Bain Capital and Redpoint in Series D Preferred Financing and has invested in every round post.
Company Founded: 2007
Company
The Receivables Exchange (“RecX”) is an auction based marketplace connecting large corporate sellers of trade receivables to a broad network of institutional buyers. Transactions over the Exchange are standardized and structured to result in a “true sale” of the receivables, thus offering balance sheet benefits to sellers and attractive risk-adjusted returns to buyers. The auction model provides corporations with a flexible, efficient and transparent channel to monetize receivables while providing investors access to the $17 trillion accounts receivable market. RecX has created approximately $5bn of liquidity since inception.
Jim Toffey, CEO
Mr. Toffey joined Receivables Exchange in May 2015. Previously, he was at GFI, where he spearheaded its burgeoning services operating electronic marketplaces for traders and market makers of cash and derivative financial and commodity products. Toffey is a seasoned professional in the exchange-based financial services arena and an e-trading pioneer. He founded Tradeweb Markets in 1997, a joint venture with four global banks, and served as Chief Executive Officer and President through 2008, growing Tradeweb from a start-up to a global exchange platform spanning 18 different asset classes.
Mr. Toffey received an M.B.A. from the Amos Tuck School of Business Administration and a B.A. from Dartmouth College. After leaving Tradeweb Markets, he served as Entrepreneur-in-Residence at Warburg Pincus, LLC and went on to found Benchmark Solutions, where he served as Chief Executive Officer. Toffey also served as the President of Fixed Income, Equity and Retail Wealth Management at Thomson Financial, Inc. after Thomson’s acquisition of Tradeweb.