Southridge Capital and Elayaway have announced their 10 million dollar agreement that is one of the biggest equity purchases on the market. Steven M Hicks announced the newly-formed partnership. He is currently ceo and Chairman of Southridge Capital, which is now known as Southridge Partners II. Elayaway, which just launched in 2006, holds its position as the parent company to DivvyTech, Inc. The business’ main focus is technology and brand management. Elayaway provides a payment platform for consumers and 300 merchants. They have formed many partnerships within this particular industry. Their payment application has given retailers a chance to improve upon their customer bases and generate more sales. It allows companies to target not so savvy credit shoppers and offer them a payment plan that fits their budget and is very flexible.
Elayaway.com is a layaway plan that can be processed and managed online and make it available to brick-and-mortar retailers. This has opened an opportunity for businesses and consumers to make smaller and even larger purchases than before. Revenue is increased by a setup fee and a monthly transaction to the retailer. Next, the consumer will pay a fee also on the items they purchase. For more details visit Bloomberg.
As a Chief executive and Founding principle of Southridge Partners II, Steven M Hicks continues to maintain the company’s overall success. He has outlined a direction and has been very hands-on when it comes to business development and execution. The business started back in 1986 and has made a long lasting reputation for itself in the investment industry. Hicks background has a lot of experience and he understands the industry when it comes to dealing with derivatives, financial structuring, investment banking and risk arbitrage.
He shares how the idea of Southridge Capital came about when his boss decided to head back Australia while employed at a hedge fund in New York. Hicks stated that it took some time for him to think about a plan but he eventually knew he could run the fund himself. The principal of the New York hedge fund agreed and allowed him to create Southridge Capital while working for the New York company. You can visit southridgeholdingsllc.com for more.