Co-Founder and President of The Receivables Exchange
Education: Bachelor of Arts, Tulane University; Master of Science in Finance, London Business School
Family: Wife, Natalie; two children
Mentor: “I have business mentors that I look to for guidelines and to give feedback.”
Nic Perkin is an idea man. When he was 15, he started a dog-walking company in New York. When he was 16, he invested in the stock market. In 2007, he and business partner Justin Brownhill came up with an idea for businesses to get access to working capital by trading their accounts receivable online. They based their business in New Orleans right as the city was recovering from Hurricane Katrina. Four years later, The Receivables Exchange has 70 employees who will handle more than a billion dollars in trades over the next year. The company just announced that the New York Stock Exchange (NYSE) has acquired a non-controlling equity stake in The Receivables Exchange. They are jointly launching the Corporate Receivables Program (CRP) with NYSE, which will allow for the electronic buying and selling of receivables through their marketplace for large corporations.
Why did you choose New Orleans?
We were looking for a city where we could be recognized and one which we could be associated with. New Orleans has all the benefits of a major American city at a fraction of the cost of San Francisco or New York. New Orleans is one of the easiest cities to invite people to and to conduct business.
How are you helping make the city more pro-business?
I serve as vice chairman of the Louisiana Innovation Council. We come up with recommendations to the state on how to make it the most competitive and how to generate an innovative culture. If you create capital here, you can keep people here.
How do you hope to leave your mark?
I will contribute to the reinvention of the way people gain access to capital in the 21st century. I try to do as much as I can to take this city to the next level. I try to stay active on the Board of Directors for the Youth Rescue Initiative so disadvantaged youth can get access to (the resources) they need.
Where do you see New Orleans in five years?
Changes are occurring here on so many levels and gaining momentum. Young people are moving here for the right reasons. Everybody here is trying to make a difference on a daily basis. The conversation is, “How do we make this a better place?”
What advice would you give to other entrepreneurs?
You need to see one idea that everyone said “no” to and watch it work. Once you’ve seen that, it changes you because of what is achievable. Believe in that and believe in your gut. Read Kipling’s “If” poem. And work out everyday.
Describe yourself in one word. Lucky.
iBERIABANK is proud to present a series of profiles featuring entrepreneurs, volunteer activists and artists whose work is making a difference. As iBERIABANK continues to make significant investments in our community, this special feature focuses on a few individuals who are doing the same.
While we can not include everyone who is inspiring change and worthy of recognition, we are proud to highlight a select few who give tirelessly to our community with their time, energy and passion.