About
Integrated Technology that Drives Customer Profitability

About Us

The Company

Founded in 2003, Nexxo Financial Corporation provides a turn-key, multi-product and omni-channel solution for the delivery of alternative financial services (money transfers, check cashing, money orders, bill payment, prepaid card servicing and reloads, and mobile top-ups,). Nexxo’s technology offering includes teller facing, mobile application and self-serve kiosk which allows clients to provide ubiquitous product access while strengthening customer relationship. Integrated customer registration and management, compliance, and configurable pricing and promotions platform delivers a customer centric experience. An ever-growing base of underlying providers ensures that clients can deliver the right products to serve the needs of traditionally banked customers and new underserved customer segments.

Management

David Alvarez –Co-Founder, CEO

David Alvarez brings a wealth of financial experience to the company he co-founded. As the former President and Vice-Chairman of Providian Financial, one of the largest credit card issuers worldwide, he was instrumental in its rapid growth between 1990 and 2001. Providian Financial was sold to Washington Mutual for $6.45 Billion. At Providian, During his eight years of profit and loss responsibility, Mr. Alvarez delivered greater than 25% compound annual growth rate in profits, culminating in more than $2 Billion pre-tax profits in 2000. During his tenure, he managed over 12,000 employees in twelve locations across six states. Mr. Alvarez holds both BA and MA degrees from Stanford University.

Craig McDonald –SVP Sales & Business Development

Craig McDonald has more than 15 years of senior management experience leading sales, marketing and services functions for technology companies on a global basis. Prior to joining Nexxo Financial Craig was Chief Operating Officer for Valista, a global leader in digital content management software for telecom operators. Prior to that, he held senior management positions with iPIN, a leader in Internet and mobile payments software, and in the healthcare industry where he managed European operations for Healthmark Group. Craig began his career with IBM and holds a BS degree from Michigan State University.

Board of Directors

David Alvarez, Nexxo Financial

David Alvarez brings a wealth of financial experience to the company he co-founded. As the former President and Vice-Chairman of Providian Financial, one of the largest credit card issuers worldwide, he was instrumental in its rapid growth between 1990 and 2001. Providian Financial was sold to Washington Mutual for $6.45 Billion. At Providian, During his eight years of profit and loss responsibility, Mr. Alvarez delivered greater than 25% compound annual growth rate in profits, culminating in more than $2 Billion pre-tax profits in 2000. During his tenure, he managed over 12,000 employees in twelve locations across six states. Mr. Alvarez holds both BA and MA degrees from Stanford University.

Doug Carlisle, Menlo Ventures

Doug joined Menlo Ventures in 1982. Prior to Menlo Ventures, he worked as a design engineer at ROLM Corporation. At Menlo, Mr. Carlisle focuses primarily on information technology companies. His recent investments and board seats include: A4Vision, Adomo, DriveCam, ePAC, FutureTrade Technologies, IntelliDOT Corporation, IronPort Systems, LiveOps, Nexxo, nLight Photonics, Open Solutions (OPEN) and ProfitLine. His prior investments and board seats include: Carrier Access Corporation (CACS); Cyras Systems, acquired by CIENA Corp. (CIEN); Efficient Networks (EFNT); Hotmail, acquired by Microsoft (MSFT); Kalpana, acquired by Cisco (CSCO); and Pyxis, acquired by Cardinal Health (CAH). Mr. Carlisle is a graduate of the University of California, Berkeley (B.S. in Electrical Engineering), Stanford University Graduate School of Business (M.B.A.) and Stanford University Law School (J.D.).

Tench Coxe, Sutter Hill Ventures (Observer)

Tench Coxe joined the Sutter Hill Ventures in 1987 following his tenure with Digital Communications Associates in Atlanta, where he managed T-1 products and directed internal MIS and marketing. Previously, Mr. Coxe worked with Lehman Brothers in New York City, where he was a corporate financial analyst specializing in mergers and acquisitions as well as debt and equity financing. His current directorships include Artisan Partners, Ceon, eLoyalty, FaceTime Communications, NVidia and Ruckus Wireless. He was also responsible for the firm’s investment in Alteon Networks, @mobile, Avant!, Edify, Legato, Lynk Systems, Network Appliance, Grand Junction, NCD, OnStream Networks, Synernetics, Primary Access, and XcelleNet. Mr. Coxe graduated from Dartmouth College with a degree in economics. He earned his MBA in 1984 from Harvard University’s Graduate School of Business.

Jim Elliott, WBC Financial Group

Jim Elliott has 30 years of experience in the financial institutions sector and is a principal of WBC Financial Group, which provides consulting services to banks, thrifts, other financial services companies and companies entering a financial services line of business. Before joining WBC, he was successively General Counsel, Executive Vice President for European operations, and member of the Board of Directors of Providian Corporation. As a member of the Board he chaired the Marketing Committee and served as a member of the Audit Committee.As Executive Vice President, he launched Providian’s U.K. credit card business and built it to over $500 million in assets. In the U.S. with Providian and its predecessor, First Deposit, he served as General Counsel, first of the Bank and then of the combined holding company.Prior to joining Providian, Mr. Elliott was in private practice of law in Washington, D.C. for eight years. In his legal practice, Mr. Elliott represented financial institutions of all sizes before the regulatory agencies and in Federal Court.From 1974 to 1981 Mr. Elliott served with the Comptroller of the Currency first as Senior Trial Attorney and then as Director of the agency’s Bank Organization and Structure Division. Mr. Elliott is a graduate of Duke University (BA) and the University of California, Berkeley (JD).

Jim Simons, Split Rock Partners

Jim Simons is a founding Managing Director of Split Rock Partners. Prior to founding Split Rock Partners, Simons served as General Partner of St. Paul Venture Capital and focused on early-stage investing in software and internet services opportunities. Before joining St. Paul Venture Capital, Simons was a partner at Marquette Venture Partners, where he was responsible for investments in a variety of industries. Simons began his career in the investment banking group at Trammel Crow Company and in the corporate finance department at First Boston Corporation. He holds Board seats at Caring.com, eBureau, Internet Broadcasting, MyNewPlace, Nexxo Financial, and QuinStreet and has been on the Board at or responsible for investments in Compete, FirstRain, Flycast Communications, Hireright, LowerMyBills, and netGenesis. Simons received a BA in economics and history from Stanford University and an MBA from Kellogg Graduate School of Management at Northwestern University.