The New Orleans Exchange, a new startup that chose NOLA over NY, recently landed $4.2 million in financing to help get the ball rolling. Since it’s inception, The Exchange has grown almost 200% and finds itself on the Inc. 5000 list of the fastest growing companies in the U.S., which has also become a social network for the nation's top entrepreneurs.
In early 2008, The Exchange opened for business. The high-tech system, built by the same team that created the New York Stock Exchange's bond trading mechanism, will give small and medium-sized companies a central place to sell their accounts receivable, the debt that customers owe them for goods and services.
Nicolas Perkin, one of the founders, has worked with media and technology companies in Hong Kong, London, Prague and New York since he graduated from Tulane in 1994. He helped build Massive, which places advertisements in video games, into a company that Microsoft bought in 2006 for between $200 million and $400 million. When Perkin needed a place to launch his next venture with partner Justin Brownhill, he decided it was time to return to an up-and-coming New Orleans.