TWO LEADERS PUSH INNOVATION TO PAY PEOPLE THE WAY THEY WANT TO BE PAID.

daVinci Payments and North Lane Technologies (formerly Wirecard North America) are now officially one with an expanded suite of fintech services and solutions. The combined businesses now operate under the brand umbrella of Syncapay, through a holding company formed together with a new majority equity investment from funds advised by Centerbridge Partners, L.P. (“Centerbridge”), a leading private investment management firm with extensive experience in supporting growth opportunities in the financial services sector.

As the future of payments increasingly becomes digital, global, and seamless, daVinci Payments and North Lane are well-positioned together to lead the way. The combination unites two industry leaders and their technologies and capabilities, to push the boundaries of innovation and continually ensure that people are paid the way they want to be.

The close of daVinci Payments and North Lane joining forces is exciting, but there may be some questions. Here are answers to the most frequently asked questions: 

 


What is the strategic rationale behind this transaction?

The combination of daVinci Payments and North Lane unites two fintech leaders with deep legacies in the industry — creating a company with an expanded suite of fintech services and solutions and an enhanced ability to shape the future of digital payments.

The union was created to:

  • Optimize Solutions: By uniting these two leaders, clients now have access to a broader set of solutions and an unmatched set of digitally native payment choices. ​The combined company brings more than two decades of payment industry experience and expertise spanning incentives, rewards, disbursements, compensation and global payouts.
  • Accelerate Growth: By bridging the technologies and capabilities of daVinci and North Lane, the combined company is positioned to sell a broader base of services across expanding markets and benefit from economies of scale to accelerate growth opportunities.
  • Drive Innovation: As both companies are established leaders in digital payments, the new organization further expands the boundaries of innovation to deliver greater value for clients and end-users alike. 
  • Capitalize on a significant market opportunity: The addressable market of the combined company is $500B in addressable revenue.


How will the combined company be structured?

The combined businesses now operate under the brand umbrella of Syncapay, through a holding company formed together with a new majority equity investment from funds advised by Centerbridge. Both businesses will operate independently for a period of time, while leadership from both companies establish a combined operating model that prioritizes clients and the growth opportunities in the market in a strategic way.


Who will lead the combined company?

Juli Spottiswood will continue to lead Syncapay as Chairman and CEO, with David Josephs continuing as CEO of daVinci Payments, and Seth Brennan continuing as CEO of North Lane under the Syncapay brand.  The Board of Directors will be chaired by Juli Spottiswood and include members from Centerbridge Partners, Bain Capital Ventures, and Silversmith Capital Partners.


Where will the combined company be headquartered?

daVinci and North Lane’s headquarters will not change at this time. Both companies remain committed to the Chicago and the Philadelphia areas, respectively.

Who are the investors in NORTHLANE and daVINCI?

A holding company has been formed with a new majority equity investment from funds advised by Centerbridge. In addition to Centerbridge, investors in the Syncapay brand companies include Bain Capital Ventures, Silversmith Capital Partners, MissionOG, and NYCA. They are deeply committed to advancing the new organization’s fintech industry footprint and impact to drive further innovative solutions at a broader scale.