Net Element, Inc. (NASDAQ: NETE) (“Net Element” or the “Company), a technology-driven group specializing in mobile payments and value-added transactional services in emerging countries and in the United States, announced today that William Healy has been appointed to the Net Element’s Board of Directors, effective June 30, 2014, and will serve on the Board’s Audit, Compensation, Nominating and Corporate Governance Committees.
Mr. Healy is an accomplished financial services industry veteran with more than 24 years of merchant financing and electronic payments industry experience. Mr. Healy is currently the President of Funds4Growth, a leading investment firm focused on financing of payment service providers in the United States. Since launching Funds4Growth, Mr. Healy has successfully structured and financed in excess of $100 million in merchant base loans. Prior to his tenure at Funds4Growth, Mr. Healy founded MBF Leasing, LLC in November of 2003, where he was responsible for strategic planning along with the financial and operational management of MBF Leasing. Prior to that, Mr. Healy spent 13 years with the CIT Group, Inc., where he was the President of CIT’s Lease Finance Group out of Chicago, Illinois, overseeing more than 150 employees involved in over 225,000 leasing transactions, and in excess of $125 million in merchant base financings. Prior to joining CIT, Mr. Healy held several senior level positions with NewCourt Financial, including Chief Operating Officer of the Specialty Finance Division. He is a graduate of the University of Notre Dame with a Bachelor’s degree in Accounting.
“I am pleased to have Bill join our Board of Directors,” said Oleg Firer, CEO of Net Element. “Mr. Healy brings to the Board valuable hands-on experience and a deep understanding of the payments industry. Mr. Healy was a valuable resource to Unified Payments as that company executed its growth strategy prior to its acquisition by Net Element in April, 2013.”
“I am very excited to be working with the Net Element team,” said Mr. Healy. “Net Element is integrating technology into the traditional payments industry in new ways. I am excited to join the Board and contribute in a meaningful way to the company’s growth and evolution.”
Additional information regarding this financing may be found in Net Element’s 8K, which was filed with the Securities and Exchange Commission (SEC) on July 7, 2014 and may be obtained from the SEC’s Internet website at http://www.sec.gov.
About Net Element (NASDAQ: NETE)
Net Element (NASDAQ: NETE) is a global technology-driven group specializing in mobile payments and value-added transactional services. The Company owns and operates a global mobile payments and transaction processing provider, TOT Group. TOT Group companies include Unified Payments, recognized by Inc. Magazine as the #1 Fastest Growing Private Company in America in 2012, Aptito, a next generation cloud-based point of sale payments platform, and TOT Money, which has a leading position in Russia and has been ranked as the #1 SMS content provider by Beeline, Russia’s second largest telecommunications operator. Together with its subsidiaries, Net Element enables ecommerce and adds value to mobile commerce environments. Its global development centers and high-level business relationships in the United States, Russia and Commonwealth of Independent States strategically position the Company for continued growth. The Company has U.S. headquarters in Miami and headquarters in Moscow. More information is available at www.netelement.com.