VersaPay Appoints New Chief Financial Officer To Support Accelerated Growth

TORONTO, May 18, 2018 /CNW/ - VersaPay Corporation (TSXV: VPY) ("VersaPay" or the "Company"), a leading provider of cloud-based invoice-to-cash solutions including electronic invoice presentment and payment, automated accounts receivable, cash application and collections management, today announced that Shouvik Roy is joining the company's executive leadership team as Chief Financial Officer effective immediately, subject to regulatory approval.

Shouvik Roy has over 17 years of experience as a finance leader with extensive knowledge in financial reporting, financial planning & analysis, investor relations and regulatory compliance across multiple industries. Prior to joining VersaPay, Mr. Roy held senior finance positions at various companies, including Nike, Home Depot and most recently at FreshBooks, an established Canadian fintech company. Mr. Roy holds an Honours BBA from Wilfrid Laurier University, as well as the Chartered Professional Accountant, Chartered Accountant designation.

Shouvik is taking over for Harp Gahunia who has been the CFO at VersaPay on a part-time contract since March 2016. With its recent growth the Company requires a full-time CFO going forward, but given his other entrepreneurial interests Mr. Gahunia was unable to commit more time to the Company. He will be transitioning his role until the end of the quarter.

"I am delighted to welcome Shouvik to the VersaPay team. He brings a wealth of knowledge to the role, and his fintech experience at Freshbooks gives him a strong understanding and appreciation of the digital transformation we are driving in the financial operations of mid-sized and larger companies," stated Craig O'Neill, CEO of VersaPay. "At the same time, we are grateful for having had Harp on the team and appreciate his many contributions including multiple financings and the merchant services divestiture. We wish him the very best as he pursues an entrepreneurial opportunity."  

About VersaPay

VersaPay is a Fintech company and leading provider of cloud-based invoice-to-cash solutions, enabling businesses to provide a superior customer experience, get paid faster, streamline financial operations, and dramatically reduce DSO and costs. VersaPay ARC is the new standard in accounts receivable and collections management with a customer self-service environment to view invoices online, collaborate on inquiries and disputes, and facilitate secure online payments (EFT/ACH and credit card). Businesses gain access to a suite of powerful tools that enable efficient collections, cash application and real-time insight into accounts receivable. VersaPay ARC automatically reconciles payments and account information through integrations with a wide range of ERPs and accounting software providers.

More information about VersaPay is available at www.versapay.com or under the Company's profile on SEDAR at www.sedar.com.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

SOURCE VersaPay Corporation