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Canadian Start-Up Throws A Spanner in the B2B Works
In June 2014, private equity firm Primus Capital became Hyperwallet’s majority shareholder, and Shields exited the firm. She founded FI.SPAN to target the business-to-business (B2B) banking and payments space in August 2016.
“The genesis of FI.SPAN was visits to Hyperwallet clients six to eight months after they had started working with us,” explains Shields.“These large corporations would ask if we could provide services such as cash management, foreign exchange or vendor payments. Clearly, they had unmet needs that their banks weren’t fulfilling, and were willing to work with third-party fintechs to meet these needs.”