Mangopay hires Luke Trayfoot as chief revenue officer

Payments firm Mangopay has hired Luke Trayfoot from Hyperwallet as chief revenue officer.

In the newly created position, Trayfoot will oversee the firm’s international expansion and work to improve its revenue streams for the next phase of its growth.

Mangopay, founded in 2013, is used by various peer-to-peer lending platforms as it allows marketplaces and platforms to accept consumer payments and onboard sellers. It partnered with Katipult previously to launch bespoke P2P lending software in the UK.

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Trayfoot, previously Europe, Middle East and Africa sales director at Hyperwallet, will report to chief executive officer Romain Mazeries.

The appointment of Trayfoot comes shortly after Mangopay was acquired by private equity firm Advent International.

In addition to the purchase price, which was undisclosed, Advent is investing €75m (£64m) of capital into the business to help fuel its growth through geographical, vertical and product expansion.

As part of the deal, Advent also took a stake in donation-based crowdfunding platform Leetchi, which is Mangopay’s parent company. In addition, Xavier Garambois, former vice president of the European consumer business of Amazon, joined the firm as chairman.

“Marketplaces continue to be the paradigm shift in digital commerce which is connecting the planet. In fact, last year global marketplaces’ sales increased by 25 per cent compared to global first party e-commerce sales which only grew by 12 per cent,” said Trayfoot.

“Unlike other marketplace payment solutions in the market, Mangopay’s payment environment is tailored to meet the specific needs of growing global marketplaces. With the team in place and Advent’s position within the business, I’m certain we are well on our way to becoming the leading payment solution in this category.”

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