11/01/2017 20:44:28

Cachet Financial Solutions Appoints Kevin J. Hollahan as SVP of Sales

MINNEAPOLIS, Jan. 11, 2017 (GLOBE NEWSWIRE) -- Cachet Financial Solutions, Inc. (OTCQB:CAFN), a leading mobile FinTech provider of cloud-based remote deposit capture (RDC) and mobile prepaid card solutions, has appointed Kevin J. Hollahan as senior vice president of sales.

Hollahan brings to Cachet more than 20 years of sales experience, including building and leading teams focused on selling Software as a Service (SaaS) and IT infrastructure services. Hollahan will assume responsibility for the sales organization from Cachet’s Hunter Wolfe, who was previously responsible for managing both sales and operations.

As the company’s new senior vice president of Service Delivery, Wolfe will lead the effort to establish a new service delivery group that consolidates many of Cachet’s customer-facing and internal delivery functions, including customer success, project delivery, sales enablement and learning.

"Kevin is an extraordinarily experienced and capable senior sales leader, with a long record of over achievement building and leading teams that win multimillion-dollar accounts,” said Mack. “As our new SVP of sales, Kevin will build upon the strong foundation established by Hunter, who will now apply his deep knowledge and understanding of our clients to taking our service organization to the next level. These internal changes represent true milestones for Cachet, reflecting the growth of our organization and our positive outlook for 2017.”

Hollahan commented: “With the growth of Cachet’s marquee customer base, fueled by strong product and service offerings and the rapid expansion of the FinTech industry, I realize I’m joining Cachet at an opportune time. I’m looking forward to working closely with Jeff, Hunter and our entire sales team to develop and execute on strategies that will drive continued growth and client acquisition."

Prior to joining Cachet, Hollahan served as vice president of sales at Harland Technology Services, where he was responsible for managing a nationwide team selling infrastructure maintenance solutions and managed network services. He was previously a regional sales manager for Edmentum, a provider of SaaS cloud-based online curriculum to the education vertical, where he oversaw a team of sales professionals covering the company’s Western and Midwestern region. Prior to Edmentum, he was regional sales director for Absolute Software, a SaaS company providing security software for network management and computer theft prevention. Earlier, he served as district manager of Gateway, responsible for a territory and a team of sales professionals. Hollahan earned his B.A. in Economics from DePauw University and MBA from Saint Louis University.

About Cachet Financial Solutions, Inc.

Cachet Financial Solutions is a leading cloud-based, SaaS technology provider serving the financial services industry with mobile money and remote deposit capture solutions for PC, Mac and mobile. Founded in early 2010, Cachet has quickly grown into a technology leader and trusted partner of some of the largest and most respected financial organizations. With remarkable growth, an impressive client base and award-winning technology, Cachet continues to drive innovation and deliver world-class solutions to financial institutions of all sizes.

The company's industry-leading solutions help clients to increase customer engagement, grow revenues and gain competitive advantage. Cachet's cloud-based technology platform simplifies development, deployment and servicing of consumer and commercial solutions—minimizing cost and accelerating speed-to-market and ROI. Enabled by Cachet's suite of business and consumer solutions, financial institutions can better serve the needs of all their customers. For more information, visit www.cachetfinancial.com.

Forward-Looking Statements

This press release contains certain statements that would be deemed "forward-looking statements" under Section 27A of the Securities Act and Section 21E of the Securities Exchange Act of 1933. Words such as "may," "likely," "anticipate," "expect" and "believes" indicate forward-looking statements.

These statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements to be materially different from any future results, performances or achievements expressed or implied by the forward-looking statements.

Forward-looking statements reflect our current views with respect to future events, are based on assumptions and are subject to risks and uncertainties. We discuss many of these risks in greater detail in our Annual Report on Form 10-K for the fiscal year ended December 31, 2015, filed with the Securities and Exchange Commission on April 14, 2016, under the heading "Risk Factors" and in the other reports we file with the Commission. You are cautioned not to place undue reliance on these forward-looking statements. Also, forward-looking statements represent our estimates and assumptions only as of the date of this press release. Except as required by law, we assume no obligation to update any forward-looking statements publicly, or to update the reasons actual results could differ materially from those anticipated in any forward-looking statements, even if new information becomes available in the future.

Company Contact:

Judy German, VP & CMO

Cachet Financial Solutions, Inc.

952.698.6991

jgerman@cachetfinancial.com

Investor Relations for Cachet:

Matt Glover or Najim Mostamand

Liolios Group, Inc.

949-574-3860

CAFN@liolios.com

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