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CHARLOTTE, NC - November 14, 2003 - Ephinay Corporation announced today that it has accepted a $10 million capital investment from Trinity Ventures to facilitate further growth of Ephinay's financial process outsourcing business. Trinity Ventures has over a billion dollars under management, was founded in 1986, and is based in Menlo Park, California.
"We are pleased to have Trinity join ChrysCapital as major investors in Ephinay," said Michael D. Gantt, President and Chief Executive Officer. "Trinity performed a thorough analysis of our market and our company before coming to their decision. In the process, they distinguished themselves from a number of high quality investment firms."
Tim McAdam, general partner of Trinity Ventures, said, "We have been proactively looking for a BPO investment with back-end capabilities in India for a number of years. Ephinay's truly world class management team, unique go to market strategy and demonstrated ability to deliver immense value to its customers is by far the most promising best shore opportunity we came across. Their process knowledge and laser focus on a relatively untapped category in the financial back-office differentiated them from the myriad others tackling BPO. We are extremely excited to be part of the company and look forward to helping the team build a dominant force in the finance and accounting outsourcing category."
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