TimePayment, an award-winning fintech company specializing in commercial equipment lease financing, has concluded a wave of expansion to position itself to excel post-pandemic, including making 30 front-end hires. TimePayment also announced the appointment of Michael Adams as Senior Vice President and Chief Commercial Officer, leading all revenue-related activities at the firm, and Mark Sheehan as Vice President and General Manager of Capital Markets & Strategic Partnerships, with a special focus on bolstering TimePayment’s syndication relationships.
President and CEO Jay Haverty said of the expansion, “We strive to provide the best sales support for our vendors. As a result, we provide our vendor partners with sales coverage teams that are focused solely on their industry. Our hiring of 30 new front-end employees reflects the growth we are seeing in application and funding volume across all of our industries.”
In the executive suite, Adams brings 30 years of leading sales and revenue functions in banking, payments and fintech lending to TimePayment. Adams’ legacy includes growing sales revenue at both Snap Advances and CAN Capital, as well as helping take fintech payment processor Marqeta through its $15 billion IPO, while boosting customer satisfaction and retention across the board.
Haverty said of Adams, “It’s a tall order asking someone to coordinate and centralize business development and marketing sales automation for some 30+ industry verticals. Mike has both the sales and project management experience to help us gain efficiencies of scale as we continue to enter even more vertical markets and grow our industry specialist sales teams.”
Sheehan has more than 40 years’ experience across the leasing and information technology fields, including leadership roles at Lease Corporation of America, Crestmark Bank, Wintrust Capital, EverBank (now TIAA), PNC and Comdisco. Sheehan has been awarded Top Sales Producer 15 times, and at National City Bank (now PNC), he won the Excel Award, the bank’s highest honor, at the national and regional levels. Sheehan will apply his deep knowledge to bolster Time Payment’s syndication capabilities and explore strategic partnerships with institutional partners, banks and other financial institutions. “People think of us as a micro-ticket lender, but we do so much more than that,” said Sheehan. “Our capital market relationships allow us to handle deals of nearly any size on behalf of our vendors.”
“We are always interested in helping our vendors serve as many customers as we can,” said Haverty. “Mark is going to be key in establishing stronger, deeper relationships with financial institutions to expand our credit window and enable us to ultimately say ‘Yes’ to more applicants on behalf of each of our vendors.”