Business Warrior Corp., the source for small businesses in America to get more customers, announces the acquisition of Alchemy Technologies, a global FinTech software as a service (SaaS) company. The acquisition strengthens Business Warrior’s core marketing and lending software while expanding the Company’s brand and services to meet global demand.
In working with Alchemy to develop its Business Warrior Funding lending platform earlier this year, Business Warrior identified Alchemy as an attractive acquisition opportunity, noting its operational and financial performance.
Alchemy is a global company with customers in six different countries and territories, the United States, Mexico, United Arab Emirates, Australia, United Kingdom and Puerto Rico. In 2021, Alchemy generated total revenues of $2.8 million. The company is on track to add additional revenue and projects full-year 2022 revenues to increase by 77% compared to 2021.
“After working with Alchemy, we quickly realized the massive potential of adding this international group of industry leaders to the Business Warrior team,” explains Business Warrior President Jonathan Brooks. “With our Business Warrior platform, premium marketing, and now a global lending technology presence, we are building solutions that propel the success of small businesses.”
As a subsidiary of Business Warrior, Alchemy will remain under its current brand name and will continue to support its clients and internal teams. Alchemy and its more than 30 full-time employees and over 100 full-time contracted developers will be an independently managed subsidiary of Business Warrior. This acquisition expands the Business Warrior team to 157 professionals focused on a singular mission: to be the source for success and long-term growth for small businesses through marketing technology a/Read Mahnd unique funding solutions.
Alchemy founder and CEO Timothy Li will join BusinessWarrior as the Global Head of Technology, where he will work alongside the BusinessWarrior executive team. Li, who has an extensive background and is a recognized expert in the FinTech industry, previously worked as a chief information officer and as a chief risk officer for JP Morgan Chase, Loan Depot, and Realty Mogul.
“We are so excited about joining the BusinessWarrior family! This move provides Alchemy with the additional resources, tools and capital necessary to enhance our service to customers,” states Li. “Both companies believe small business owners are the lifeline of local communities. By bringing Alchemy and BusinessWarrior together, the positive impact on these communities is going to be worldwide.”
Randy Schmidt, formerly the COO of Alchemy, will transition into the role of senior vice president of Alchemy and will lead its internal team moving forward.