GRIT Ed. 9 | Family Matters - Flipbook - Page 40
GRIT Ed. 9 “Family Matters”
RBC Sponsored Article
IN CONVERSATION WITH JONATHAN SHEPHERD, HEAD OF FINTECH CORPORATE
DEVELOPMENT AT RBC, AND ROBERTO RAMESAR, CEO OF PAYEDGE:
How RBC’s
family culture is a
their
and their partners. “We work closely
the business leads into the room
payables pain points by improving
with enterprise strategy and business
and have a serious conversation
the reconciliation and approvals
line
understand
about what our relationship means;
process, creating significant time
their focus,” Jonathan says. “We
we don’t want to buy a company
and cost savings.
actively
to
on a false pretense, have them be
our internal business leaders and
disillusioned and quit. That’s lost
helping
companies
reduce
Roberto Ramesar, CEO of PayEdge.
“At the time, it was our first time
being in a proper organization,
which is different from fintech
which is really just flying off the
transition; they knew coming in
every step of the way, from analysis,
fintech from Burlington, Ontario,
Canada,
make
introductions
value and destroyed value.”
years since our acquisition!” says
RBC was so supportive during this
BC is one of the largest banks in
to
“It’s crazy to think it’s been three
seat of your pants half the time.
for tech acquisition
strategies
that many of us had not been in a
corporate setting, so there was a
“WE’RE NOT
JUST BUYING
RBC Ventures itself has a micro-
WE’RE
crucial to know the teams are
TECHNOLOGY,
conversations,
‘ask-me-
anything’ sessions. We received
and-operated
INVESTING
IN CULTURE.
businesses,
so
it’s
passionate about the problems they
are solving and that they believe
RBC is a good fit to scale their vision,
PEOPLE ARE A BIG
PART OF EVERY
DEAL WE DO.”
lot of hand-holding, lots of forwardthinking
culture; these are mostly owned-
so RBC can support financially and
with other resources.
“There is no handbook, it just feels
- JONATHAN SHEPHERD
right or it doesn’t,” Jonathan says,
HEAD OF FINTECH CORPORATE
DEVELOPMENT, RBC
adding that there is a lot of time
spent with the team to make sure
introductions to leadership team
and even had a launch event to
business owners. We work closely
there is a fit with the business culture.
welcome us. It meant a lot for us
with outside advisors as well, who
It’s about getting to know people
coming the bank.”
bring us deal flow. We have lots of
organically
conversations with tech founders
enthusiasm, and really learning their
work culture.
through
diligence,
the
financials, reviews, and diligence, all
was one of RBC’s acquisitions back
Since then, PayEdge has been able
in the community and partnership
way in technology and diversity.
the way to the signing of purchase
in 2019. PayEdge offers business
to accomplish quite a bit with the
groups to find alignment business-
Much of the bank’s success
agreement. In an environment where
clients a best-in-class solution for
bank. In January of this year, to
wise and personality-wise. This is our
Ultimately, it’s about shared culture,
is attributed to their culture
everyone is used to juggling so much
accounts payable automation and
further enhance their efficiencies
family! When we bring in companies,
shared visions, and understanding
– which is just like family.
at once, and looking at almost a
payment optimization. By seamlessly
and prepare for massive scaling,
you’re part of this family!”
the role of RBC in accelerating both
Jonathan Shepherd has been
dozen companies in the pipeline at
connecting to leading accounting
the operations team of PayEdge
in Corporate Development at RBC
any given time, their family culture is
platforms, PayEdge specializes in
has been moved to RBC’s Cash
In RBC Ventures specifically, it’s
for 15 years. It’s not uncommon to
crucial to successful execution and
Management
team.
about adding value to Canadians
see team members with years of
growth of their portfolio.
“For us, scaling does not always
through non-bank related services,
R
known
for
paving
experience, which has little turnover.
Operations
strategies.
mean just ‘throwing in more bodies’
including Ownr, a company that
Jonathan and his team work tirelessly
because it doesn’t always make
guides
“We operate as a family. If someone
to find interesting, new ways to
the most sense from a cost-benefit
through the incorporation process. If
needs help, you give it to them,” he
engage RBC’s client base through
perspective. This move was about
there is a true alignment where the
says. “We consistently prioritize to
tech and value-added services. On
utilizing an established infrastructure
company can benefit from being in
make sure our team members are
the corporate acquisition side, they
to enhance efficiencies and to share
touch with RBC’s large customer-
properly supported.”
look
banking
our learnings back to them. When
base, RBC will provide financial and
targets. “We look for companies
we work with RBC, the question
human capital resources to support
general
and technologies that are giving us
is always ‘what is the best final
the company’s growth.
Corporate Development for the bank
more of a bond or connection to
outcome for everyone involved?’”
in
Jonathan
supports
at
non-traditional
new
business
owners
early-stage
our end-clients who would be more
founder-owner operated businesses
likely to use our services and give
Everything at the bank is value-
cautions
for RBC Ventures. He’s done five
us the ability to bundle products
driven. There are no targets or
behemoth,
acquisitions
and solutions that make their lives
quotas they have to meet from an
landscape
acquisition standpoint. It’s all about
founders, so cultural fit is extremely
coming together into the RBC family
important. At a certain point in our
to drive value for RBC business units
diligence discussions, we will bring
Fintech,
including
for
RBC
Ventures
since its launch . The Corporate
easier.”
Development team also does general
M&A for the bank, and is involved
PayEdge, a cloud-based payments
“But this model is not for everyone,”
JONATHAN SHEPHERD
HEAD OF FINTECH CORPORATE
DEVELOPMENT, RBC
Jonathan.
and
may
“RBC
the
not
is
a
corporate
be
for
all
ROBERTO RAMESAR
CEO, PAYEDGE