LOUISVILLE, Ky. — Louisville-based Sum180, a financial technology company that supports financial wellness to employers, announced today that it has been acquired by New Jersey-based FlexWage Solutions, a national provider of employer-sponsored financial wellness and pay solutions, effective April 1, 2019.
Sum180 is a fintech startup launched by Louisville-based IMC in 2014 through its incubator for new products and new businesses. IMC, a brand licensing agency co-founded by Stephen Reily, Sum180 co-founder and chairman, has generated over $3 billion in consumer product sales for the Fortune 500 brands it represents while also serving as an incubator for its own new product and business ideas. While running IMC, Reily began Vibrant Nation, which became the nation’s largest online community and influencer network for women ages 45 and older. Leveraging Vibrant Nation’s consumer insights and digital experience, IMC then created and funded both Sum180 and another current business, theClick, an email newsletter by women for women on topics including beauty, fitness, travel and more.
FlexWage Solutions, a leading provider of employer-sponsored early pay and financially responsible short-term liquidity solutions for employees, will continue to provide its Visa-branded FlexWage Payroll Debit Card; Direct Pay, a technology solution that enables instant delivery of non-recurring payments; and OnDemand Pay, the industry’s only patented non-loan solution. OnDemand Pay provides employees with responsible access to earned wages prior to payday.