×

Cachet Financial Solutions Appoints Bruce Whitmore as New Executive Vice President and Chief Information Officer

MINNEAPOLIS, Jan. 12, 2015 (GLOBE NEWSWIRE) -- Cachet Financial Solutions, Inc. (OTCQB:CAFN), a leading provider of cloud-based SaaS mobile money management technology to banks, credit unions and other financial services organizations, announced today the appointment of Bruce Whitmore as Executive Vice President and Chief Information Officer. Christopher Ebbert formerly held that role for Cachet and is now the Executive Vice President of Product Development.

"Bruce brings a wealth of technology leadership experience to Cachet and we are very pleased to welcome him to our executive team," said Jeffrey Mack, President and CEO of Cachet. "The growth we're experiencing and the opportunities in 2015 and beyond dictated our decision to bring on a new CIO, allowing Christopher to focus solely on Cachet's vital product development plans."

Whitmore will oversee all areas of information technology and solution development for Cachet, and brings more than 30 years' technology leadership and experience to his role. Prior to joining Cachet, Mr. Whitmore was Chief Technology Officer for Skybridge Americas. He has also held various technology leadership roles with Carlson Companies, United Healthcare, and the United States Air Force.

"I'm thrilled to join Cachet during this exciting time of rapid growth," said Whitmore. "I look forward to working with Cachet's executive team, and their outstanding group of IT professionals, to help shape the IT strategy and drive continued innovation and growth for Cachet and our clients."

About Cachet Financial Solutions, Inc.

Cachet Financial Solutions is a leading cloud-based, SaaS technology provider serving the financial services industry with mobile money management and remote deposit capture solutions for PC, Mac and mobile. The company's industry-leading solutions help clients to increase customer/member engagement, grow revenues and gain competitive advantage. Cachet's cloud-based technology platform simplifies development, deployment and servicing of consumer and commercial solutions—minimizing cost and accelerating speed-to-market and ROI. Enabled by Cachet's complete suite of business and consumer solutions, financial institutions can better serve the needs of all their customers or members. For more information, visit www.cachetfinancial.com.

Forward-Looking Statements

This press release contains certain statements that would be deemed "forward-looking statements" under Section 27A of the Securities Act and Section 21E of the Securities Exchange Act of 1933 and includes, among other things, discussions of our business strategies, future operations and capital resources. Words such as "may," "likely," "anticipate," "expect" and "believes" indicate forward-looking statements.

These statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements to be materially different from any future results, performances or achievements expressed or implied by the forward-looking statements. Forward-looking statements include statements about the anticipated closing of our initial public offering and the number of shares to be sold in the offering.

Forward-looking statements reflect our current views with respect to future events, are based on assumptions and are subject to risks and uncertainties. We discuss many of these risks in greater detail in our Current Report on Form 8K filed with the Securities and Exchange Commission on February 12, 2014 under the heading "Risk Factors" and in the other reports we file with the Commission. Given these uncertainties, you should not attribute undue certainty to these forward-looking statements. Also, forward-looking statements represent our estimates and assumptions only as of the date of this press release. Except as required by law, we assume no obligation to update any forward-looking statements publicly, or to update the reasons actual results could differ materially from those anticipated in any forward-looking statements, even if new information becomes available in the future.

CONTACT: Media Contact: Judy German Vice President, Chief Marketing Officer Cachet Financial Solutions 952.698.6991 jgerman@cachetfinancial.com Investor Relations: Matt Glover or Michael Koehler Liolios Group, Inc. 949.574.3860 CAFN@liolios.com

Source:Cachet Financial Solutions