Cynergy Data

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Cynergy Data.
Type Private
Founded 1995
Headquarters New York, NY, United States
Key people Marcelo Paladini, President & CEO
Industry Merchant payment processing and business cash advance services
Products Integrated payment processing services and business cash advances
Website www.cynergydata.com

Cynergy Data is a New York City-based merchant services company. With four metropolitan locations across the United States, the company provides various forms of payment processing: credit card, debit card, gift card, electronic benefit transfer, and check conversion. It also offers business cash advance, often referred to as business factoring, services. For e-commerce businesses, Cynergy Data processes online sales through a payment gateway.

The company is registered with the Visa and MasterCard associations and is sponsored by Bank of America.

The CEO is Marcelo Paladini, who co-founded Cynergy Data in 1995.

[edit] Timeline: Key Events

1995: Marcelo Paladini and John Martillo launch Cynergy Data. They quickly expand from a two-person operation to one needing an entire roster of employees.

1997 - 2002: Cynergy Data experiences a 510% growth. For the first time, Inc. Magazine features the company in its annual list of the fastest growing companies in the United States. With a 33% increase in sales for the year 2001 alone, Cynergy Data ranks 451 on the list. In 2002, New York City's Hispanic Chamber of Commerce names Paladini and Martillo Entrepreneurs of the year. [1]

2005: Inc. Magazine again includes Cynergy Data on its annual list of fastest growing companies. The company boasts a 294.5% growth rate and 107 employees, earning a ranking of 489. [2]

2002 - 2006: Cynergy Data ranks #25 on Inc. Magazine's 2008 list of the top 100 Inner City Companies with revenue growth of 536%. The number of full-time employees jumps to 150 in the year 2006. [3]

2007: In April, Cynergy Data acquires Abanco International merchant portfolio and payment gateway services. The acquisition allows the company to process billions of credit card and other electronic payments annually. [4]

[edit] References

  1. ^ New York City Department of Small Business Services and the Initiative for a Competitive Inner City Honor Four NYC Small Businesses Among Nation's Fastest Growing. New York City Department of Small Business Services. 24 May 2005.
  2. ^ Inc. 5000 Fastest Growing Private Companies in America. Inc. Magazine. 1 December 2005.
  3. ^ Inc. Magazine Inner City 100. Initiative for a Competitive Inner City. 15 January 2007.
  4. ^ Abanco International Sells Merchant Portfolio. Business Wire. 25 April 2007.

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