TimePayment, a financial technology company specializing in commercial equipment financing, acquired Diversified Capital Credit, an equipment financing firm with concentrations in the waste/recycling, home care/healthcare, test and measurement, transportation, photography and energy industries.
“A big part of what sets TimePayment apart is how deeply embedded we are in the verticals we serve,” Jay Haverty, president and CEO of TimePayment, said. “DCC’ s vast experience in the booming waste/recycling sector, as well as their expertise in home health and testing and measurement, are a perfect fit for our philosophy and for the superior level of service we provide. They know their industries inside and out.”
“We’re excited to work with a company that’s been in the market for 35 years with a great track record,” Bruce Smith, founder, owner and president of Diversified Capital Credit, who will stay on at TimePayment as a vice president of sales, said. “The TimePayment acquisition allows us access to a fintech company with a high-level technology platform and high-level marketing capabilities.”
Founded in 1994 and operating out of New Jersey and Georgia, Diversified Capital Credit is known in the market by a variety of trade names, including Waste Funding, FotoFunding and Healthcare Equipment Funding. The company is largely small-ticket focused and offers financing to a credit spectrum that includes small businesses and startups.
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