Katipult Powers New Singapore based Crowdfunding Platform Launched by JV Between Carrington Group and RHT

Katipult Technology Corp. (TSXV:FUND and FRA:K10) a software provider for online investment platforms has helped to launch a new crowdfunding platform Carrington RHT Wealth.

The platform is a joint venture (JV) between Singapore based RHT Wealth, an advisory firm, and US-based Carrington Group.

RHT Group offers professional services to businesses and is said to work with 80 out of Singapore’s 300 publicly listed companies.

The Katipult software will support operations “across the spectrum of offerings while streamlining and automating internal processes like investor and issuer onboarding, KYC and AML checks, as well as regulatory compliance and reporting.”

Katipult CEO Brock Murray said they were excited about the increasingly sophisticated client acquisitions they are making and by the broader industry trend to embrace the end-to-end digitization of online capital raises and investor servicing.

“This is part of a deliberate strategy at Katipult to move up market and to demonstrate our value proposition in the enterprise market. This will be a sustained push in 2019 and beyond, and we are encouraged by the results at RHT Group.”

Katipult reported a 37.8% increase in quarter over quarter revenue in its most recent earnings report for Q3 of 2018.

In November 2018, Katipult won an award and secured a cash prize of $100,000 SGD (CDN $95,000) at the 2018 Singapore FinTech Festival

Katipult Releases Blockchain based Secondary Market, Launches First on WeAreStarting in Italy

Katipult (TSXV: FUND)( Frankfurt: K10) has announced the first install of its blockchain based secondary market product. Adhering to a previously posted release time frame, Katipult has launched the secondary market as a pilot on WeAreStarting Srl, an investment crowdfunding platform in Italy.

According to Katipult, capabilities of the platform include issuer buybacks, bulletin boards and auction-based price discovery.  Katipult clients will be able to offer tradable securities, introduce smart contracts, and automate clearing and settlement for transactions at a much faster rate, while ensuring both the security of payments and regulatory requirements.

Katipult is a Fintech based in Canada that provides crowdfunding / financial services software.

“Providing investors liquidity through a secondary marketplace is a valuable capability to firms in private capital markets, and there has been an increased demand for secondary trading capabilities from our software with the rise of ICOs and tokenization of assets,” said Brock Murray, CEO of Katipult.

Carlo Allevi, Operations manager of WeAreStarting, said they are enthusiastic about Katipult’s adoption of blockchain and the ability to track shareholdings in real time.

“This addition will open up long term opportunities to extend the usefulness of the Katipult platform. In the secondary market, having the capability to manage voting rights and direct marketing actions to shareholders is a real breakthrough.”

Katipult believes that by providing blockchain powered secondary markets, trust and transparency are both improved. It also expands revenue opportunities for the firms on the secondary marketplace.

Fintech Katipult Closes on C$3.05 Million Funding

Katipult Technology Corp. (TSXV: FUND)( Frankfurt: K10), a Canada based Fintech, has closed on a C$3.05 million offering of unsecured debentures. Katipult provides investment management and crowdfunding software, including secondary market and blockchain based securities features. Katipult listed its shares on the TSX Venture exchange in late 2017.

The holders of the security are a group of six individual investors.

“We are ecstatic to be bringing in capital at this stage in our business from this group of individuals,” commented Brock Murray, CEO of Katipult. “Their experience is applicable to our industry, business model, and product focus. I think our shareholders will appreciate the direction we went with this financing and I feel it demonstrates our confidence in our operational execution over the coming years”.

Interest on the Debentures are currently set at 8.5%, subject to adjustments, compounded quarterly until redeemed or converted in accordance with the terms of the Debentures.

For a period of 5 years from the  date of issue of the Debentures, the outstanding principal under the Debentures will be convertible, at the option of the holder, into common shares of Katipult at a conversion price of $0.51 per share.

At the election of the holder, all or a portion of the interest accrued on the Debentures may be converted into common shares at a conversion price equal to the volume weighted average trading price of the the shares for the immediately preceding ten trading days.

Subject to Katipult satisfying certain milestones, the company has the option to convert all outstanding principal into common shares at the “Principal Conversion Price” and to convert all accrued Interest into common shares at the Price.

The Company also has the right to redeem the Debentures at any time by paying or issuing, as applicable, to the Debenture holder:

  • a cash payment for the Principal
  • converting all accrued Interest into Common Shares at the Interest Conversion Price
  • issuing to the Debenture holder additional Common Shares having a value representing 50% of the Interest that would have accrued up until the five (5) year anniversary of the issue date based on the Interest Conversion Price.

In the event the Debentures have not been converted or redeemed within five years from the date of issue, the Debenture holder may call the Debenture by providing the Company with twelve months’ written notice, after which, the total Principal and accrued Interest will be due and payable by the Company in cash on the date that is 12 months from the Notice Date.

The Debentures are also subject to Interest adjustments if Katipult fails to maintain a cash balance equal to its 12 month burn rate whereby the Interest will increase by 0.5% for each month of inadequate cash balance subject to an interest rate cap of 12%.

Katipult Named Finalist For Most Promising Partnership Award at the Second Annual Lendit Fintech Industry Awards

Canadian fintech Katipult announced last week it has been nominated, alongside Polymath Inc., for the Most Promising Partnership Award at the second annual Lendit Fintech Industry awards in April. According to Katipult, the partnership will be competing against some of the world’s finance and fintech giants including partnerships involving Goldman Sachs, Macquarie Group, Swedbank, and Lending Club.

Katipult also reported that the award nomination follows Katipult’s January 2018 announcement of a collaboration with Polymath Inc. in the development of a system of recording securities ownership and transmission using blockchain technology. The company noted it will be applying its proprietary, proven software to be the first Know-Your-Client (KYC) interface on the Polymath Network. Investors will be able to use the Katipult compliance framework in order to provide their KYC, Anti Money Laundering (AML) , Counter Terrorist-Financing (CTF), Accreditation and Suitability information. Approved investors will be able to participate in Security Token Offerings (STO) powered by the Polymath protocol.

Speaking about the nomination, Brock Murray, CEO of Katipult Technology Corp, stated;

“We are proud to be recognized alongside some of the biggest names in the financial world, and I think it speaks to the level of innovation Katipult is bringing to our industry. The global market opportunity for our business is massive and partnering with other talented teams better positions our company to take advantage of it. This validates what we’ve accomplished in our industry to date and it’s very encouraging to see that the industry and our peers are excited about the potential of our collaboration with Polymath”.

The Most Promising Partnership Award finalists are the following:

  • Katipult + Polymath Inc
  • Macquarie + PeerIQ
  • Lending Club + Opportunity Fund
  • Intrinio + QUODD
  • Financeit + Goldman Sachs
  • Minna Technologies + Swedbank

Katipult Signs MOU With Polymath to Collaborate in Recording Securities Ownership & Transmission System Development Using Blockchain Technology

Canada-based fintech company Katipult announced on Wednesday it has signed a Memorandum of Understanding (MUO) with Polymath, the creator of the Polymath securities token platform, to collaborate in the development of a system of recording securities ownership and transmission using blockchain technology. According to Katipult, the companies will explore the potential support of Polymath’s tokenized digital asset issuance services within Katipult’s investment platform software infrastructure.

While sharing details about the partnership, Brock Murray, CEO of Katipult, stated:

“Private capital markets have been undergoing a transformation over the last few years with firms leveraging regulations for raising capital online; that trend is only set to accelerate rapidly with the spread of efficient blockchain technology. Polymath is pushing innovation in this respect by guiding companies through every step of the token launch process, while also ensuring strict legal compliances are met.”

Polymath CEO, Trevor Koverko, went on to comment:

“We are excited to work closely with Katipult to develop a next generation interface for investors and managers to empower them to manage blockchain security portfolios. Existing interfaces demand nuanced technical knowledge to operate securely and efficiently, but we believe our combined efforts can overcome this hurdle and deliver greater ease of use and superior user experience.”

Katipult then reported it has been actively working within the private capital markets around the world to help alternative investment firms set up their own investment platforms to revamp their business processes to be more agile, scalable, and efficient. Katipult added its platform can be used for Regulation D offerings in the United States such as Reg A+, 506(c), 506(b) or under regulatory regimes including those of the Financial Conduct Authority in the UK and the Monetary Authority of Singapore.

Canadian Fintech Katipult Appoints Former Executives of Fintech & Banking Giants to New Board of Directors Members

Katipult, a Fintech company based in Vancouver, British Columbia, announced on Thursday it has appointed founding CFO of PayPal, Former Match Group CFO, and former Director of HSBC Investment Bank to its Board of Directors members. This news comes just after the company has listed its shares under ticker symbol FUND on the TSVX. While sharing details about the board of directors, Brock Murray, CEO of Katipult, stated:

“We have put together a Board of Directors with extensive experience in capital markets to help guide our company through its next phase as a public company. Since we are a cloud-based software provider for firms operating in private capital markets, we formed a Board that has extensive exposure to both technology and finance.”

Speaking about his appointment, Marcus Shapiro, Chairman and Independent Director of Katipult and former Director of HSBC Investment Bank, shared:

“I am delighted and honoured to have been appointed to Chair the Board of Katipult at this critical juncture in the Company’s development. I have been very impressed by the progress Katipult has made in recent years. It is rare for a young fintech business to grow its business without recourse to external capital, as the Katipult team did prior to achieving its RTO, and for such a business to trade profitably. Now is the time to plan to accelerate growth by investing more heavily in the infrastructure of the business including its sales and marketing capacity.”

Other Board of Director members include Jeff Dawson, former CFO of Match Group, and David Jaques, the founding CFO of PayPal.

Canadian Fintech Katipult Becomes Public Company, Trades on TSXV under Ticker FUND

Katipult, a Fintech company based in Vancouver, British Columbia, is now a public company. Katipult has listed its shares under ticker symbol FUND on the TSVX .

Katipult received approval on November 15th and netted CAD $1.6 million in the transaction to fund its growth plan. Additionally, Katipult will receive a cash inflow of $520,000 from the exercise of warrants issued in its April private placement. The holders of the warrants are contractually obligated to exercise the warrants within 6 months of the Listing.

Katipult is a Fintech company offering a cloud-based crowdfunding software infrastructure that allows firms to operate their own branded investment platform offering debt, equity and other instruments to various types of investors. The white label platform automates many components of investor and investment management including components of financial transactions, investment marketing, and payments such as dividends or interest. Katipult is currently working on incorporating Blockchain technology into its platform to be able to provide services for the next generation of funding platforms.

Katipult has posted growing revenues and profitable operations in what management describes as its market validation period.

In a recent blog post, Katipult explained why it decided to list shares in a public offer. Katipult stated;

“While many startups may be viewing an IPO as an exit strategy, we believe accessing the public markets are part of a prudent growth strategy. We believe this approach will build on our competitive advantages and bring in a diverse investor base all looking to participate in our company successes going forward.”

Katipult said it is looking to provide investors an opportunity to support the company at a much earlier stage of growth and thus potentially far higher returns.

Katipult was co-founded by Brock Murray, CEO, and Pheak Meas, CPO and is one of the more prominent Fintech companies in Canada.

 

Fineqia to Launch Mini-Bond Platform in Canada

UK based Fineqia has announced its intent to launch the Beta version of its new investor platform by Canada Day (July 1, 2017). Fineqia is based in the UK. Finequia has partnered with JOI Media’s Katipult crowdfunding platform to launch in Canada. JOI is based in Calgary, Canada.

According to a statement by Fineqia, their “mini-bond” platform is designed to democratise access to vetted, asset-backed debt and equity offerings with greater information transparency and a way to participate in institutionally financed deals. Fineqia said it will initially showcase opportunities from the media and Fintech industries.

“Fineqia aims to foster financial equality, whereby those investing can get a potentially better return than they would get elsewhere and save on ordinarily high transaction costs,” commented Fineqia’s Chairman Martin Graham. “Launching the platform on July 1 is a way for us to celebrate Canada’s 150-year-old birthday by showcasing Canadian innovation in financial services and technology.”

The Fineqia platform will be headquartered in Vancouver, British Columbia and operated out of London, England. By partnering with JOI and Katipult’s software, Fineqia will facilitate the entire investment process from deal origination through to investor tax reporting. Katipult has developed compliant crowdfunding platforms in more than 20 countries so far.

“We are proud to be working with Fineqia as their technology provider. Private capital markets are changing and there is a massive opportunity for firms that recognize the industry is shifting online,” said Brock Murray, CEO of Katipult. “Through our partnership, Fineqia is leveraging innovation to provide risk mitigated investment opportunities to investors and that is a very encouraging mandate to be a part of.”

 

Katipult Secures “Substantial Capital Investment” in New Funding Round

“Platform as a Service” company Katipult, is reporting a “substantial capital investment in a round of funding” to help fuel global growth. A standout in the Canadian Fintech scene, Katipult is a white label software platform that powers investment marketplaces for crowdfunding or online lending platforms – including a real estate solution. The software allows firms to setup and manage a platform to offer privately issued, exempt securities to non-accredited, accredited and institutional investors. Katipult is being used today in over 20 unique regulatory environments.

CEO and founder Brock Murray says his company has strong fundamentals and massive growth potential;

“With our new partner, we are poised to build a transformative company that makes enterprise-ready software accessible, affordable, and painless for firms in the Alternative Investment industry. From day one, we’ve set out to build a phenomenal product that removes the inefficiencies and regulatory hurdles for our clients and it’s great to have a long-term strategic partner, to significantly increase our resources to do so.”

The additional funding will be used to growth the Kaitpult team beyond its current 40 employees, explore partnerships and possible acquisitions. They are also looking for opportunities for vertical migration.

“The success of our clients is our success,” says Murray. “We are going to be aggressively pursuing growth strategy, and bolstering our product and support services to help our clients launch Investment Crowdfunding, Peer-to-Peer Lending, and Investor Management platforms.”

Katipalt says it is on track to be Canada’s top Fintech company in 2017. Katipult also says it is a market leader in its specialty markets including the United States, Canada, and United Kingdom.

Katipult is Named Canada’s Most Innovative Fintech Company

katipult-brock-murray-pheak-meas-doug-mcleanKatipult, cloud-based software infrastructure that allows firms to design, setup, and manage an Investment Crowdfunding, Peer 2 Peer Lending, or Investor Management platform has been recognized as Canada’s most innovative fintech company.  In a blog post Katipult explained their mission;

“Private capital markets are plagued with operational inefficiencies and detailed compliance requirements which presents a huge opportunity for firms looking to remove these pain points. As the largest banking institutions in the world look to harness Fintech into their operations, Katipult is positioning itself in the right place at the right time.”

Katipult offers white label software that businesses can design and manage across multiple distribution channels on the web and mobile. From debt to equity, from real estate to early stage investing and peer to peer lending, Katipult wants to ensure that “secure, flexible and legally compliant software infrastructure” is also in place, especially for businesses that need to safeguard their information.

Canada FlagFor over eight years, the company has been led by CEO Brock Murray, CTO Doug McLean, and Chief Product Officer Pheak Meas.  The founders have launched their company not in the heart of Silicon Valley or Silicon Alley but in Calgary – a city that is dominate by Oil & Gas. Today the firm has grown from three employees to 20. Katipult has processed around $75 million in transactions from 20 different companies. By being recognized as Canada’s most innovative fintech company, Katipult hopes to join the ranks of other Canadian tech giants, including Hootsuite, Mozilla Firefox, Shopify, and Slack.

Katipult Launches Peer to Peer Lending Software for UK Market

Katipult has launched new software designed to power UK peer to peer lending platforms. Katipult has partnered with payment platform Mangopay in their European push.  Katipult, based in Canada, is a white label software provider that facilitates investment crowdfunding / P2P lending in over 20 regulatory environments.  Mangopay, launched in 2013, has quickly generated a dedicated portfolio of clients across Europe providing a payment service for marketplaces that was not previously commercially available.

Brock MurrayBrock Murray, CEO of Katipult, said they were excited to partner with Mangopay;

“The level of sophistication and security required to properly service the debt markets is unique and we’re bringing a product to the UK market that benefits everyone from lenders to borrowers as well as regulators, by creating a high standard for industry confidence.”

Celine LazorthesCéline Lazorthes, CEO of Mangopay – a company that boasts over 1500 platforms across Europe, said that peer to peer lenders demand a high level of sophistication and functionality.

“The partnership between Katipult and Mangopay perfectly answers this need. Katipult offers a powerful software combined to Mangopay’s seamless payment solution.”

The UK is the most mature peer to peer lending market in the world. Boosted by forward a forward-thinking regulatory approach, P2P lending is quickly becoming commonplace n the UK.  Recent data provided by the UK P2PFA indicates that growth is continuing even with economic challenges such as Brexit.

New Licensing Regime Outlined for Singapore Crowdfunding Industry

The Monetary Authority of Singapore (MAS) makes its move after public consultations to provide industry direction and safeguards for retail investors.

Singapore at NightInvestment crowdfunding platforms that offer debt or equity opportunities will now have to obtain a license to operate. While many may dispute the pros and cons of the new rules, MAS has clarified grey areas after over a year of deliberation. It also comes at a time when government agencies in the City State are grappling to regulate the emerging Fintech space. While some feel the MAS processes will help to lend credibility to the investment crowdfunding sector, others feel that the industry will be stifled by regulation.

The new licensing rule will have a significant impact on several lending-based crowdfunding platforms that already operate in Singapore. These allow retail investors to contribute towards raising loans for small and medium-sized enterprises or start-ups while receiving interest payments in return. Such firms will now have to apply for a capital markets services licence and, because they deal with retail investors, have to set aside a capital base of S$500,000. The same will apply to a crowdfunding platform that wants to help companies sell equities to retail investors.

Platforms that want to tap only accredited and institutional investors will now need to have a base capital requirement of S$50,000, down from S$250,000 previously. They will also not need to put up a $100,000 security deposit.

There was also a loosening of the checks that crowdfunding firms would have to make on investors, including retail investors. However, they will now have to issue alerts to investors about the risks involved in securities crowdfunding, and investors will have to acknowledge these risks before making an investment.

These capital requirements ensure that  significant entities are operating in the sector so, in my opinion, this is a good thing for the industry.

People always think about crowdfunding as speculative investments but there are very credible private equity firms in Singapore, with great track records, looking to offer private investments through crowdfunding.


Brock MurrayBrock Murray is the CEO of Katipult and former CEO of JOI Media, an award winning custom software development firm. Prior to his entrepreneurial ventures, Brock amassed extensive experience in capital markets as an institutional equity research analyst. Katipult is a crowdfunding software solution for private placements, investment crowdfunding, investor management, and listings. Katipult allows companies to design, setup, and manage an investment crowdfunding platform across multiple distribution channels including web, mobile, and social media. Katipult is being used in over 20 unique regulatory environments to grow investor networks, efficiently manage investors, and streamline deal flow administration.

Katipult & Mangopay Partner on White Label Crowdfunding Software in UK

Katipult on MacCrowdfunding software provider Katipult has partnered with Mangopay in its push to enter the UK crowdfunding market.

Based in Canada, Katipult clearly wants to be the dominant global, white label software provider and is already compliant in more than 20 different countries. An expansion into the UK makes sense – pairing it with leading payment platform Mangopay, just makes sense.

In a joint release, the two companies stated their arrangement “cements” promising growth in Europe calling their combined initiative “must have technology”. Mangopay, operating out of Paris, has been a Fintech superstar and was recently acquired by a French bank as the service experienced rapid growth. Today Mangopay is utilized by over 1000 platforms.

Brock MurrayBrock Murray, CEO of Katipult, said his company was “ecstatic” to incorporate the Mangopay services.

“This is a game-changing relationship for the UK Investment crowdfunding market. We’re bringing a product to the UK market that benefits everyone from investors to issuers as well as regulators, by creating a high standard for industry confidence. We’re acting as technology partners and building an ecosystem to help firms create portals to grow their investor networks and efficiently manage them,” said Murray.

Celine LazorthesKatipult’s platform provides an integrated and compliant solution for many forms of investment crowdfunding. Mangopay filled a void in the European payment sector having targeted the marketplace sector with its end to end payment solution technology.

“As the regulatory environment evolves, crowdfunding needs agile and secure payment solutions. Crowdfunding platforms and marketplaces have identified us as a key player because we offer an easy-to-use payment solution which perfectly addresses their needs,” stated Céline Lazorthes, CEO of Mangopay.

NCFA Canada Applauds Regulators Approach on Crowdfunding

Canada Equity CrowdfundingOn March 20, 2014, a total of six provincial regulators announced two main proposals for new Crowdfunding prospectus exemptions that would allow early stage companies such as start-ups and SMEs to raise up to $1.5 million of capital online through the issuance of securities.

According to the  National Crowdfunding Asssociation of Canada (NCFA Canada) this represents a significant leap forward and positive progress for crowdfunding advocates.  NCFA Canada has been working with key industry stakeholders, government, regulators, media, eco-system partners and academia, since launching in October 2012, to provide education, research and Craig Asano NCFA Canadavaluable input into the developmentof a viable ‘made in Canada’ framework.

“While 2013 was a year of ‘awareness and community building’ for NCFA Canada, 2014 should prove to be busier than ever. We want to thank all of the Association’s founding members, sponsors, directors, advisors, ambassadors, and members for all of their support. We are on the cusp of building something great together – we need your continued support”, said Craig Asano, Executive Director of NCFA Canada.

NCFA Canada LogoThe crowdfunding industry is exploding with entrepreneurs, investors, portal operators, third party service providers and experts from around the world who are all jockeying for position to take advantage of a promising and brand new fundraising channel for small to medium sized enterprises (SMEs). The industry continues to grow at a tremendous rate with global crowdfunding markets increasing from $1.5 billion in 2011 to $5.1 billion in 2013, according to industry research. NESTA, a UK charity focused on innovation initiatives predicts that within 5 years crowdfunding could grow to £15 billion pounds in the UK alone.

The proposed “Start-up Exemption”, which has already been adopted in Saskatchewan (SK) last December 2013, would allow start-ups and SMEs to raise up to $300,000 per 12 month calendar year. Investors can invest up to $1,500 per deal on crowdfunding portals that distribute offerings for up to 90 days online. The Start-up Exemption is based-on the Saskatchewan model and provincial regulators in British Columbia, Manitoba, Quebec, New Brunswick and Nova Scotia are seeking public comments until June 18, 2014.

A second proposal is Ontario’s version called the ‘Crowdfunding Exemption’, which has been a collaborative effort between Ontario, Manitoba, Quebec, New Brunswick and Nova Scotia, with the Ontario Securities Commission leading the initiative by setting up a dedicated task force that has conducted a remarkable amount of research, hosted numerous town halls and reached out to various community stakeholders to engage in consultation sessions. The ‘Crowdfunding Exemption’ has higher caps and limits than the SK model, and would allow start-ups and SMEs to raise up to $1,500,000 per 12 month calendar year with investors being able to invest up to Daryl Hatton$2,500 per deal and up to $10,000 per year. 

“The regulators should be commended for their thoughtful and consultative approach. The proposed regulations have some great characteristics and will help propel Canadian early stage companies from the farm team to the big leagues,” said Daryl Hatton, CEO/Founder of FundRazr, Canada’s leading crowdfunding portal based in B.C.

“Crowdfunding powers business growth and is a strong economic generator for start-ups and SMEs who need capital and investors to fuel innovation, create jobs and compete on the global stage. SMEs are the backbone of Canada’s economy representing approximately 50% of GDP an employing 55% of all the jobs in Ontario alone,” said Debra Chanda, President of Launch 120, and newly appointed Advisor at NCFA Canada.

Canada 5 Dollars HockeyIn international jurisdictions such as Australia, where equity crowdfunding has been legally permitted for over 5 years, leading portal ASSOB (Australian Small Scale Offerings Board) has raised over $130 million in seed and growth capital for over 130 companies of which 83% of them are still operating without a single incident of fraud.

Crowdfunding was in the spot light in 2013 with the number of Canadian portals more than tripling from 17 in 2012 to over 70 in March 2014, according to the NCFA Canada Crowdfunding Directory.

“We’ve enjoyed high growth last year and the demand for portal software continues to ramp up,” said Brock Murray, CEO and Co-founder of Katipult, a leading crowdfunding portal software provider.

Craig Asano enthused, “We’re thrilled that there is such wide support to adopt equity crowdfunding exemptions in various provinces across Canada. The proposed regulations will benefit all Canadians and the entire capital raising eco-system by working to fill the ‘funding gap’ and pave the way for Canada to support a thriving entrepreneurial culture to compete with other international regions that accelerate growth and provide supportive funding environments.”

“We’re hopeful that over time, data collected from crowdfunding transactions will enable regulators to ‘right size’ policy and edge closer to a harmonized set of rules and also lay the foundation for a second market. Education and due diligence will be of the highest importance to ensure early stage crowdfunding markets formed around ‘The Start-up Exemption’ and the ‘Crowdfunding Exemption’ proposals are efficient, sustainable and safe for investors,” said Myles Harding, President of Inline Reference Check, a leading background and due diligence company.