A Phoenix resident perpetually chasing multimillion-dollar business ideas, Maynard co-founded the companies LifeLock.com and Internet America, and more recently SurchX, a credit-card business. He’s often referred to himself as a “serial entrepreneur.”
Until troubles began to surface toward the end of 2019, SurchX was looking like a rather promising new entrepreneurial endeavor. A financial tech company, it helped businesses shift credit card merchant processing fees onto cardholders. SurchX employed dozens of people, inhabited swanky offices in downtown Phoenix, and had drawn accolades from Arizona Governor Doug Ducey as it aimed for possible tax credits through the Arizona Department of Commerce. (It never received them.) Maynard was living large: an apartment at the swanky Optima in Scottsdale, a top-of-the-line Tesla.
As with many businesses Maynard has had his hand in over the years, the good times wouldn’t last. SurchX has since collapsed, burning up an estimated $8 million of investor cash on its way down.
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Until troubles began to surface toward the end of 2019, SurchX was looking like a rather promising new entrepreneurial endeavor. A financial tech company, it helped businesses shift credit card merchant processing fees onto cardholders. SurchX employed dozens of people, inhabited swanky offices in downtown Phoenix, and had drawn accolades from Arizona Governor Doug Ducey as it aimed for possible tax credits through the Arizona Department of Commerce. (It never received them.) Maynard was living large: an apartment at the swanky Optima in Scottsdale, a top-of-the-line Tesla.
As with many businesses Maynard has had his hand in over the years, the good times wouldn’t last. SurchX has since collapsed, burning up an estimated $8 million of investor cash on its way down.
read more (phoenixnewtimes) Print Version > (PDF Attached)
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