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Cachet Financial Solutions Appoints New Chief Financial Officer

MINNEAPOLIS, Feb. 23, 2016 (GLOBE NEWSWIRE) -- Cachet Financial Solutions (OTCQB:CAFN), a leading provider of mobile money technologies to banks, credit unions, and alternative financial services providers, has appointed Bryan Meier as Executive Vice President and Chief Financial Officer. Meier brings more than 25 years’ experience to Cachet, including an extensive background working with public companies, corporate finance, operations management, financial planning and analysis, mergers and acquisitions, and investor relations.

Meier will oversee corporate finance, accounting, investor relations and reporting for Cachet. He will also serve on the company’s executive team and report to Cachet’s President and Chief Executive Officer, Jeffrey Mack.

"Bryan is an accomplished executive with significant financial and operational expertise, and I’m thrilled to welcome him to Cachet,” said Mack. “He will be an exceptional addition to our team as we continue to navigate rapid growth and transformation from start-up to industry trailblazer.”

“It is a tremendous opportunity to join Cachet at such an exciting time,” said Meier. “I’m eager to work with Jeff and Cachet’s executive team to help scale the highly innovative and fast growing business for long-term operational and financial success."

Meier, a seasoned financial executive with more than 25 years’ experience, began his career at Arthur Anderson and has since served in numerous CFO positions from startups to $4 billion corporations. Most recently, Meier was CFO/COO for Recovery Technology Solutions, Inc., where he identified areas to help increase sales and EBITDA by 35 percent and 85 percent respectively. Meier was Vice President and CFO for Phoenix Solar, Inc. in San Francisco, where he drove revenue growth from $0 to $100 million during a 3-year period. At Verasun Energy Corporation, where he served as CFO, he helped grow sales from $500 million to $4 billion over a 2-year period. Previously, Meier served in various financial executive roles for HM Capital Partners, private equity portfolio companies, where he spearheaded and managed a $600 million IPO and a $200 million public debt offering.

Cachet’s former CFO, Darin McAreavey, has accepted an opportunity outside of the company, but was appointed to Cachet’s Board of Directors, effective February 15th, and will serve as Chairman of the Audit Committee.

"Darin has demonstrated tremendous leadership over the past two years, overseeing a period of significant innovation and growth for Cachet,” commented Mack. “We appreciate Darin’s contributions to Cachet and look forward to continuing to leverage his expertise and insights as he serves on Cachet’s board.”

About Cachet Financial Solutions, Inc.
Cachet Financial Solutions is a leading cloud-based, SaaS technology provider serving the financial services industry with mobile money and remote deposit capture solutions for PC, Mac and mobile. Founded in early 2010, Cachet has quickly grown into a technology leader and trusted partner of some of the world’s largest and most respected financial organizations. With remarkable growth, an impressive client base and award-winning technologies, Cachet continues to drive innovation and deliver world-class solutions to financial institutions of all sizes.

The company's industry-leading solutions help clients to increase customer 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. 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 10K filed with the Securities and Exchange Commission on April 14, 2015 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.

Media Contact: Judy German, VP & CMO Cachet Financial Solutions, Inc. 952.698.6991 jgerman@cachetfinancial.com Investor Relations: Matt Glover or Najim Mostamand Liolios Group, Inc. 949-574-3860 CAFN@liolios.com

Source:Cachet Financial Solutions