WEX continues to eye expansion : a decade after IPO, technology is integral to global growth

James McCarthy

Source

Mainebiz

Date

3-9-2015

Pages

1, 14-16

Abstract

WEX, the leading fleet card provider in the United States has achieved a 10% to 15% annual growth rate since it became publicly traded in 2005. WEX President and CEO Melissa Smith believes that growth rate can be sustained by accelerated growth, making targeted investments, and driving scale. The company has become more global and has acquisitioned travel, corporate and health payments to its business portfolio, will help the company achieve this growth. WEX has a customer base in nine European countries and physical offices in five countries. The company purchased Evolution1, a cloud-based technology and health care payment service, and Exxon Mobil’s European commercial fuel card program, which should give the company a solid opportunity to expand not only in Europe but in Asia Pacific market as well.

Subjects

Business enterprises—Maine, Industrial management

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