ATLANTA, July 15,
2024 /PRNewswire/ -- Transend, the first B2B
private-label working capital solution that is redefining how
suppliers do business with their commercial customers, today
announced its strategic partnership with Midland States Bank, a
subsidiary of Midland States Bancorp, Inc. (NASDAQ: MSBI).
Through this partnership, Transend and Midland will take an
innovative approach to traditional financing, offering dynamic
payment solutions that empower suppliers to offer instant access to
working capital at the point of commerce.
"To partner with such a forward-thinking community bank as
Midland States Bank to launch the Transend platform nationally is
such a privilege, and we're incredibly excited about the impact we
can have together in the commercial space with their team by our
side," said Matt Lekawa, Founder and
Chief Executive Officer at Transend. "We've long admired Midland's
collaborative approach and we're eager to help set a new standard
for how banks responsibly work with FinTechs to help more
businesses access financing."
Transend and Midland share a partner-centric vision and through
this strategic alliance, the companies will play a critical role in
helping suppliers nationwide drive loyalty, increase sales, and
accelerate accounts receivable with their commercial customers.
"At Midland, we believe in building strong relationships not
just with our borrowers, but also the businesses we align with, and
the Transend team embodies the true spirit of partnership," said
Jeff Ludwig, Chief Executive Officer
for Midland States Bank. "It's inspiring to collaborate with a
company who operates with the same level of regulatory and
compliance rigor as we do, and we look forward to what we'll be
able to accomplish together."
For more information about Transend,
visit www.transendfinancial.com, and to learn more about
Midland, visit https://www.midlandsb.com/.
About Transend Financial
Transend Financial is the first B2B private-label working
capital solution that is redefining how suppliers do business with
their commercial customers. Taking an innovative approach to
traditional financing, Transend empowers suppliers to seamlessly
offer promotional terms at the point of commerce, providing instant
access to capital and directly inspiring loyalty, increased sales,
and accelerated A/R – all while opening up new deal flow for
banks.
Founded in 2023, the company is backed by the industry's leading
financial institutions across the country: allowing suppliers to
get paid in full in as quick as 24 hours following every
transaction, while automating how banks originate and acquire
premium credit at scale. Simply put, Transend helps businesses do
more business.
For more information about Transend's B2B private-label working
capital platform or how to join the Transend Financing Group, visit
www.transendfinancial.com.
About Midland States Bancorp, Inc.
Midland States Bancorp, Inc. is a community-based financial
holding company headquartered in Effingham, Illinois, and is the sole
shareholder of Midland States Bank. As of March 31, 2024, the Company had total assets of
approximately $7.83 billion, and its
Wealth Management Group had assets under administration of
approximately $3.89 billion. The
Company provides a full range of commercial and consumer banking
products and services and business equipment financing, merchant
credit card services, trust and investment management, insurance
and financial planning services. For additional information, visit
https://www.midlandsb.com/ or
https://www.linkedin.com/company/midland-states-bank.
Media Contacts
Transend: Emily Sereno
emily@transendfinancial.com
Midland States Bank: Anna
Strong
astrong@midlandsb.com
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SOURCE Transend Financial