Interview with the CEO: Net Element International, Inc. (NETE)
Oleg Firer is the CEO of Net Element International, Inc. Mr. Firer has garnered both public and private company business experience in the fields of payment processing, online banking, wireless communications and wireless products. Mr. Firer started in the payments business in 2002 with a partnership investment in GM Merchant Solutions, Inc., a small New York-based independent sales organization, where he later assumed the role of CEO for the company. In 2004, Mr. Firer merged the company with Atlantic Synergy, Inc., another ISO, renamed the company to Acies Corporation, and led the new company through an initial public offering. In 2007, Mr. Firer was approached by an investment company to establish and lead an investment division focused on financial services. Star Capital Management was created for this purpose, and under Mr. Firer’s leadership, Star successfully pursued numerous initiatives, including the deployment of a multimillion dollar merchant receivable factoring program, the acquisition and complex restructuring of numerous merchant portfolios and distressed companies in the payment-processing industry. In 2011, Unified Payments purchased payment-processing assets of Star, and Mr. Firer was retained as the Executive Chairman. Prior to his involvement with payment processing, Mr. Firer served as the Chief Operating Officer for Digital Wireless Universe, a leading B2B distributor of wireless voice and data communications products and services. Prior to that, he was Managing Partner of CellCellCell, LLC, a premier online distributor of wireless products and services. Mr. Firer currently is a Member of a board of directors of various not-for-profit organizations including Firer Family Charitable Foundation, a Chairman of Acies Corporation, Board Member of Aptito, Inc., and a Co-Chairman of Star Capital Management. Profile
TWST: Let's begin with a quick corporate profile of Net Element. What are its core businesses?
Mr. Firer: Net Element has two core businesses. One is a payments business whereby we