CORA Group and C&R Software Announce Acquisition of SpringFour

Warminster, PA, September 4, 2024 – C&R Software (“C&R”),the world’s leading Cloud-native end-to-end software and solutions provider for the complete credit risk lifecycle and a CORA Group company, today announced the acquisition of SpringFour, the first-of-its-kind, leading financial health fintech. This acquisition further expands C&R Software’s offerings in the financial health sector and supports the company’s mission to deliver comprehensive collections and recovery solutions to customers worldwide.

SpringFour will operate as a standalone brand, with Rochelle Nawrocki Gorey remaining as the CEO. This strategic acquisition will expand SpringFour’s reach, and position C&R Software to further support its clients in providing critical financial health resources and services that benefit both companies and their customers.

“We are excited to welcome SpringFour into the C&R family,” said Ed Wallen, C&R Software CEO. “SpringFour’s innovative approach to financial health complements our existing solutions and supports our goal of providing robust, comprehensive software services to our clients. The addition of SpringFour’s expertise and resources will enhance our ability to deliver valuable financial health solutions to a broader audience. We are committed to supporting SpringFour’s growth and ensuring a smooth integration process.”

“Joining C&R is a significant milestone for SpringFour and financial health,” said Rochelle Nawrocki Gorey, SpringFour Founder & CEO. “We look forward to leveraging C&R’s extensive network and resources to continue our mission of improving financial health for individuals and families. With this acquisition which expands our reach, it is clear that financial health is a mainstay for this industry. We have seen that when customers do well, their organizations do well. Together with C&R Software, we look forward to making an even greater impact on the industry and customers’ financial well-being.”

Alain Nono, Director at Waller Helms Advisors, who advised SpringFour on the transaction, said, “It has been a privilege to support SpringFour through this industry-defining transaction. C&R Software’s acquisition of SpringFour marks a significant step forward in the financial health sector, and I am confident that SpringFour’s innovative solutions will thrive under C&R’s network and resources. This partnership will undoubtedly enhance the impact SpringFour has on improving financial well-being for individuals and families across the nation.”

About SpringFour:

Founded in 2005, SpringFour is the first-of-its-kind, leading financial health fintech that empowers banks, credit unions, fintech lenders, employers, loan servicers, mortgage insurers, nonprofits, and organizations across all industries to connect consumers with vetted, local nonprofit and government financial health resources. Trusted by leading organizations including Capital One, BMO, M&T Bank, Fifth Third, OppFi, KeyBank, Avant, Enova, Oportun, Mission Lane, and more, SpringFour’s product suite includes an innovative contact center tool, digital self-service products, and APIs that increase payment performance, add brand value, strengthen customer relationships, drive ESG and social impact, support consumer financial health, and improve bottom lines. SpringFour has received many prestigious awards including American Banker’s Most Influential Women in Fintech, Inc. Magazine’s Female Founders 250, Real Leaders’ Top Impact Companies, Fast Company’s Brands that Matter, Finovate’s Innovator of the Year, and more.

About C&R Software:

C&R Software is a global leader in debt collection and recovery solutions, serving clients in more than 60 countries and managing over 650 different types of financial commitments. With a focus on innovation and customer success, C&R Software offers a comprehensive suite of products designed to support financial institutions, municipalities, and businesses in managing their debt portfolios efficiently and effectively.

About CORA Group

CORA Group

CORA Group is a collective organization redefining advancement through the acquisition, strengthening, and growth of over 30 independent software brands worldwide. Our roots in construction and foodservice have expanded to include debt collection & recovery, wine/spirits, moving/storage, loyalty, legal, and long-term care verticals. Today, we are proud to serve over 50,000 customers in 10+ markets with industry-leading enterprise software and related services. CORA Group operates as one of the primary operating groups under Jonas Software, a subsidiary of Constellation Software Inc. (TSX: CSU). This relationship reinforces CORA’s commitment to delivering industry-leading solutions and benefiting from the extensive resources and support provided by Jonas Software and Constellation Software Inc.

Contact Information

For more information, please contact:

CORA Group

George Chalmers

Associate Director, M&A Corporate Development

[email protected]

https://thecoragroup.com

About Jonas Software

Jonas Software operates over 150 independently managed software brands around the world, providing them with the strategic guidance and financial security required to be leaders in their respective markets. From its roots formed in the construction and club management markets, Jonas Software’s reach has grown extensively within the fitness, membership, hospitality, and industrial verticals. Today, Jonas Software is proud to supply industry-leading enterprise management software and related services to more than 80,000 customers in over 40+ vertical markets.