BusinessNews.ph

Tag: Reach

  • Reach Secures Major Investment to Accelerate Its Global Expansion and Fuel Enterprise Merchant Growth

    Reach Secures Major Investment to Accelerate Its Global Expansion and Fuel Enterprise Merchant Growth

    Backed by a Significant Investment From Primus Capital, Reach is Positioned to Deliver on Its Ambitious Growth Trajectory in 2025

    Reach, a leading global Merchant of Record (MoR) solution, is proud to announce a strategic investment from Primus Capital that will help the company scale its operations, accelerate its aggressive product roadmap, and augment its existing world-leading payments, tax compliance, and fraud protection solutions for retail and SaaS businesses worldwide.

    Reach Official Logo

    Reach Official Logo

    Annual Gross Merchandise Volume (GMV) for Reach grew 95% year-over-year in Q4 2024 and the organization is primed to extend its leadership in the enterprise MoR market. The investment by Primus Capital will primarily be used to enhance support for enterprise businesses, further develop its ecommerce product mix, and expand its existing global entity network into additional in-demand markets.

    “We’re thrilled to have Primus as a strategic partner as we continue to scale our solution for global merchants,” said Sam Ranieri, CEO of Reach. “This investment will allow us to strengthen our infrastructure, expand our international coverage, and empower our clients to unlock new markets and optimize cross-border operations with ease.”

    According to Ron Hess, Managing Director at Primus Capital, investing in Reach came down to a strong belief in the company’s value. “We’ve built a relationship with Sam and his team over the past few years and have witnessed the return on investment realized by Reach’s customers. The company’s impressive growth is driven by its innovative approach to solving the pain points of global expansion for retail and digital businesses. This investment will help fuel the company’s efforts to continue delivering unparalleled value to enterprise customers in the face of the challenges of a globalized marketplace,” Hess said.

    As a byproduct of this partnership, Reach is investing in new technology infrastructure and augmenting its team to support its evolving and rapidly growing customer base while concurrently developing its ecommerce product suite. The company’s expansion will further simplify cross-border transactions for its clients, which empowers businesses to focus on innovation while Reach handles the complexities of payments, tax, and fraud mitigation at scale.

    Leveraging a Merchant of Record is essential for mid-market and enterprise businesses already active in cross-border ecommerce who need to unlock new levels of efficiency, revenue, and international performance. As businesses scale globally, managing local tax regulations and staying compliant with fluctuating tariffs and legal requirements becomes increasingly complex. An MoR simplifies this process by automating tax calculations and ensuring compliance across multiple markets, with much faster time to market than going alone.

    “Given the current uncertainty surrounding international trade and cross-border sales, it’s critical for us to provide the most simple, robust, and complete global solution for our clients,” Ranieri said. “The investment from Primus will help us strengthen our position as a world leader in ecommerce while continuing to find innovative ways for our clients to navigate the complex financial and regulatory borders standing between them and their customers.”

    RBC Capital Markets acted as the exclusive financial advisor to Reach on the transaction, and Osler, Hoskin & Harcourt LLP and Taft Law acted as legal advisors. Goodwin Procter LLP acted as legal adviser to Primus

    For more information about Reach’s solutions and upcoming initiatives, please visit www.withreach.com.

    ABOUT REACH

    Reach is the leading Merchant of Record (MoR) solution designed for mid-market and enterprise ecommerce retailers and SaaS businesses. Reach allows businesses to effortlessly activate global capabilities within the platforms they already use, optimizing payments, fraud prevention, tax compliance, and localized customer experiences – all with no new systems or complex integrations. Businesses can easily activate powerful global features, streamlining cross-border operations and reducing costs. Trusted by global brands, Reach helps improve transaction approval rates and unlock the full potential of existing systems, enabling businesses to scale internationally with ease.

    Contact Information
    Andrew Cunningham
    Head of Marketing & Media
    marketing@withreach.com
    15875745011

    SOURCE: Reach

  • Reach Announces Platform-Agnostic Global Tax Compliance Solution

    Reach Announces Platform-Agnostic Global Tax Compliance Solution

    Offered worldwide, this revolutionary service ensures ecommerce businesses are fully compliant with sales tax, VAT, GST and duties, with Reach assuming all liabilities and compliance risk.

    Already a worldwide leader in providing Merchant of Record services to global businesses, Reach is excited to announce the worldwide expansion of its revolutionary global tax compliance solution. Unlike competing services, the Reach platform is a standalone service that can be seamlessly integrated into a merchant’s existing ecommerce infrastructure without the need for additional coding or technical lift. This service not only eliminates one of the most complicated pain points for online businesses, but Reach also assumes all risk and liability associated with global tax compliance on behalf of merchants. The challenges of selling cross-border into international markets don’t end with payment processing and logistics. Many online businesses don’t realize that they must also be registered with domestic tax authorities and calculate, file, and remit sales tax, VAT, GST and duties. The penalties for not complying with local tax laws can be severe and extend beyond large fines into the realm of criminal prosecution.

    “Our aim at Reach is to eliminate pain points that deter or prevent online businesses from selling cross-border and reaching their full revenue potential. By combining our world-leading Merchant of Record model with robust global tax compliance, we are unmatched in the space,” Sam Ranieri, CEO of Reach, said.

    With this revolutionary solution, Reach’s Merchant of Record network localizes the customer’s experience to increase conversions while taking on all the complexity of and liability with local tax authorities. This responsibility means that Reach is solely responsible for accurately calculating, filing, and remitting any tax incurred on online transactions, freeing ecommerce businesses from all penalties and liabilities that might arise as a result of improper compliance.

    “Online businesses often treat the ecommerce space as the ‘wild west’ where anything goes,” explained Mr. Ranieri. “But international regulatory agencies are more vigilant than ever when it comes to cracking down on businesses that don’t pay what is proscribed by local tax laws. And those crackdowns can be harsh.”

    The Reach global tax compliance solution is available globally in over 50 of the world’s largest ecommerce markets, with additional jurisdictions being added on a regular basis. The solution is also not limited by business focus, as it is universally available to any economic sector, from B2C to B2B, for any marketplace or platform, and also for digital and SaaS merchants who struggle with the complexities of global taxation on recurring and subscription payments.

    More information on this revolutionary service can be found on the Reach website: https://www.withreach.com/solution/global-tax-compliance.

    ABOUT REACH
    Reach is a global Merchant of Record that helps businesses scale in international markets, reduce risk and complexity, increase conversions and lower fees. Its vast network of local entities turns every international buyer into a local buyer, giving them the comfort and convenience of paying in their local currencies with the payment methods that they prefer. In addition to market-leading automated FX and global tax compliance, Reach offers a suite of integration options, ranging from no-code plug-and-play access to a powerful and fully customizable API.

    For Media Inquiries:
    Andrew Cunningham
    Head of Marketing & Media
    marketing@withreach.com

    Contact Information
    Andrew Cunningham
    Head of Marketing & Media
    marketing@withreach.com
    15875745011

    Related Files
    Reach _ Announcing Global Tax Compliance Press Release (Nov 2023).pdf