The appointment follows the acquisition of TrueCommerce by Welsh, Carson, Anderson and Stowe (WCAS) which is an investment company, based in New York and San Francisco, founded in 1979, with $27bn capital across 17 partnerships and a team of 90.
WCAS also has investments in businesses such as Revel Systems (iPad-based POS provider). WCAS previously had an investment in GlobalCollect (ecommerce payment provider) sold to Ingenico Group in 2014.
Fay was an Operating Partner at WCAS since 2019, before which he was CEO at INTTRA, an ocean logistics ecommerce network.
TrueCommerce is a member of our ecommerce platform shortlist and has a staff of 600 worldwide, focused on supply chain integration, including EDI, inventory, marketplaces and ecommerce storefronts, with a B2B-focused ecommerce platform called TrueCommerce Nexternal which powers, for example, the online store of USA Today.