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Viamericas seeks buyer; Goldman steps down as Credibly CEO

The auction of Viamericas Corp, a money transmitter, is in the second round, sources said.

Viamericas has tapped GCA Savvian to find a buyer, one of the people said.

The Bethesda, Maryland, company provides money-transfer, bill-payment and check-processing services. Viamericas helps users send money from the U.S. to a network of more than 51,000 payout locations in Latin America, India, China and the Philippines.

Viamericas raised $6 million in venture funding from unidentified investors in 2014, according to Crunchbase.

International Finance Corp, part of the World Bank Group, is Viamericas’ second largest shareholder. IFC is an active investor in fintech, the website said.

Viamericas produces $10 million of EBITDA, the source said. A mix of sponsors and strategics are currently vying for Viamericas, the person said.

In other fintech news …

Glenn Goldman has stepped down as chief executive of Credibly, an online lending platform for small business, two sources said. Goldman’s Linkedin profile said he became Credibly’s chairman in March after serving as CEO from August 2014. It’s unclear who is currently Credibly’s CEO. Goldman couldn’t be reached for comment.

Credibly was founded in 2010 as RetailCapital. In February 2016, Credibly secured a $70 million credit facility with SunTrust Bank and AloStar Bank of Commerce.

Goldman is former CEO of CAN Capital, also an online lender to small businesses. In November, CAN Capital put a trio of executives, including CEO Daniel DeMeo, on leave of absence. The lender’s problems stemmed from how it reported delinquencies among its SME borrowers, leading the platform to breach agreements with major lenders including Wells Fargo, said. The problems forced CAN to stop making new loans last year, reports said.

Credibly and Viamericas did not return calls for comment.

Action Item: Contact Paul Dwyer Jr, Viamericas co-founder and CEO: +1 800-401-7626

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