Disruptive B2B Fintech Company Starts 2020 with Key Addition of The Carlyle Group Co-Founder, Opens Silicon Valley Office
PHOENIX, February 11, 2020 (BusinessWire)—Radpay, a technology company employing blockchain and digital wallets to modernize payments, today announced the addition of Carlyle Group co-founder Stephen L. Norris to its advisory board. Norris serves as global finance advisor to Radpay, where he provides advice and guidance on international governmental and finance matters, as well as counsel to Radpay’s CEO.
“The entire Radpay team is thrilled that Steve Norris has joined our advisory board,” said Dana Love, PhD, co-founder and CEO at Radpay. “Steve’s accomplishments are considerable, and his demonstrated expertise in global financing underscores his knowledge of the global markets in which Radpay operates. I welcome Steve to the Radpay board and look forward to working closely with him and benefiting from his incomparable guidance.”
Norris was co-founder of The Carlyle Group (NASDAQ: CG), ranked among the world's most significant private equity and financial services companies with $222 billion of assets under management across 94 countries. He was a principal participant and critical advisor in Carlyle's numerous investments in various public and private companies. While at Carlyle, Mr. Norris, along with other senior members of the Carlyle team, participated in the acquisition, disposition, strategic focusing and financing (in public and private markets) of numerous companies involving several billion dollars of equity capital.
“I’m honored to join Radpay and to begin serving as global finance advisor for the company,” said Norris. “The innovation driving Radpay’s new platform is unrivaled, and the potential for the use of Radpay’s blockchain-powered platform in emerging transnational marketplaces is as exciting as the way it intends to disrupt the global merchant services industry. Dana Love and the entire Radpay leadership team have an extraordinary record of growing leading-edge technology companies. I see enormous growth potential in Radpay in both the U.S. and international arenas.”
The company also announced the opening of an office in Menlo Park, California. Opening a Bay area office was seen by the founders as a necessary step toward accelerating their 2020 growth. “We wanted a physical presence in Silicon Valley,” noted Love. “This office puts us in the heart of the innovation, investment, and discussions we’re having around enhancing and speeding the adoption of our blockchain payments platform.”
More About Stephen L. Norris, JD, LLM
The Honorable Stephen L. Norris served on the Boards of Directors of major Carlyle Group portfolio companies and played a significant role in strategic decisions. During his tenure, Carlyle's investments produced very successful returns for the investors, averaging approximately a realized 40% internal rate of return (IRR).
Mr. Norris was appointed by President George Bush, and confirmed by the U.S. Senate, as one of the five board members of the approximately (at the time) $68 billion Federal Retirement Thrift Investment Board. During his tenure, Mr. Norris successfully advocated for the right of Federal employees to allocate a more significant portion of their savings into public equities.
Since late 1996, Mr. Norris has served on the Advisory Committee of SEAG, Inc. which advises the Saudi Government on economic development and diversification within the Kingdom of Saudi Arabia. Mr. Norris is currently Chairman and head of the investment committee of Princeps Capital Partners. Before co-founding Carlyle, Mr. Norris was a Corporate Vice President of Marriott Corporation in Washington, D.C. He was a principal strategist and advisor for Marriott's substantial public and private financings, limited partnerships, acquisitions, and divestitures from 1981 to mid 1987. Mr. Norris was a Fellow at Yale Law School (1977) and received a B.S. and J.D. (1972, 1975) with honors from the University of Alabama, and an L.L.M. from New York University (1976).
Radpay, Inc. is poised to disrupt the $32.3 trillion global payments industry with the practical use of blockchain. Focused first on improving merchant profitability, the company’s patentpending platform uniquely integrates payments and rewards with existing banking systems, Ethereum Plasma, and digital wallets. With offices in Silicon Valley and Phoenix, Radpay gives merchants a cost-saving, fraud-resistant alternative to the processing rails of Visa, Mastercard, UnionPay, and their payment processors. Radpay brings the transparency and security of blockchain without requiring consumers to convert their personal payment options to cryptocurrency. Learn more at radpay.com.