ClientReps.com Secures USD 4.5M in Funding from Regency Trust

2001-03-12 (Newscast) Salt Lake
ClientReps.com Secures USD 4.5M in Funding from Regency Trust

ClientReps.com, the online Customer Support Provider (CSP) with globally networked operations, announced it has received USD 4,500,000 in the form of long-term debt financing from Regency Trust, the publicly listed financial services firm. The funding will go towards operational expansion with up to 2,000 ClientReps at its DataCenter.

"We are very pleased with the vote of confidence from Regency," says Sunil K. Kajaria, CEO of ClientReps.com in Salt Lake. "Their funding accelerates our growth plan and quadruples the return on investment for our investors. Now, our capital base allows us to meet inquiries from just about any client. We have the capability of taking on larger orders and expanding on our existing operations. Whereas most companies in the market are shifting into reverse, we are shifting into race mode."

"We really liked ClientReps.com's financials. They have solid contracts with notable clients, and we appreciate the opportunity to participate in their activities any way we can," observes Sanjay Kumpawat, Chief Investment Officer at Regency Trust. "It also helps that Sunil Kajaria is involved, that is a name you can bank on in this part of the world. The Kajaria family is an integral part of the socioeconomic landscape in this country, as they have been for generations."

"Our recent funding event proves our ability to securitize our revenue stream and free up resources for expansion," comments Taher Khan, VP of Business Development at ClientReps.com. "Leveraging debt especially makes sense in our business, since we can collateralize with tangibles and we can demonstrate high quality cashflows thanks to long-term service agreements with clients. We look forward to adding more financial participants like this, it's a way for us to disintermediate vulture capital from the corporate budgeting process and gain direct access to capital markets."

"I am particularly impressed with these Wharton kids," says Toby Godwin-Brown, Regional Director with ClientReps.com in London. "Inventing unique and significant financial arrangements at a time when the capital markets are in the doldrums is really exceptional. I tell you, these guys are making history, they are really setting the pace. I am proud to be involved."

ClientReps.com is an online Customer Support Provider (CSP) with globally networked operations.