LOS ANGELES--(BUSINESS WIRE)--Docupace Technologies LLC, financial services’ premier digital compliance and cyber security company, announced today that it will pursue growth independently of investment from RCS Capital Corporation (NYSE: RCAP). Docupace has reached an agreement with RCAP to repurchase their majority share stake and continue its growth trajectory as a privately owned corporation.
Docupace received a significant investment from RCAP in September 2014, as part of RCAP becoming a majority shareholder in the company. Following the investment, Docupace expanded its offerings with financial technology products, including cyber security services, compliant Straight-Through Processing and digital Alternative Investment processing. During this time, Docupace operated as an independent business unit under the executive leadership of founder and CEO Michael Pinsker.
Repurchasing the RCAP interests will enable Docupace to focus on fueling its growth in the marketplace with widespread implementation of its groundbreaking Straight-Through Processing technology, enabling broker-dealers to digitally process all aspects of their business, including document and client management, payment processing, mailings, e-signature, etc., securely and in compliance with SEC/FINRA regulations.
“It’s an exciting new chapter for Docupace as we prepare to reorient to an independent position,” said Michael Pinsker, founder, CEO and president of Docupace. “We’d like to thank all of our clients for remaining by our side during this uncertain time. Our strategic direction toward private ownership will allow us flexibility in a quickly-changing marketplace and enable us to innovate as we work to transform the financial services industry.”
Pinsker and the existing Docupace executive management team will continue to lead day-to-day operations and there will be no changes to staff, operations, processes or client relationships during the transition. The transaction is expected to close sometime in May.
About Docupace Technologies
Based in Los Angeles, Docupace is a premier provider of secure and federal and state law compliant electronic processing platforms for financial institutions and the wealth management industry. The company pioneered and implemented SEC/FINRA compliant Straight-Through-Processing (STP) technology for the financial services industry. The company’s document management and workflow solutions simplify the process of capturing, organizing, routing and accessing information. Docupace was first-to-market with patent-pending technologies that serve the largest financial service providers and their advisors who, driven by increased levels competition, privacy issues, document protection and government regulation, are adopting the company’s document management and workflow solutions in order to sustain profitability and audit-risk assurance. As a leading provider of cyber security services, Docupace also helps broker-dealers and financial services firms become cyber secure by assessing vulnerabilities, correcting potential gaps, and providing ongoing monitoring. For more information, visit docupace.com.