MangoPay hires new CFO to support global growth
MangoPay has appointed Carlos Sanchez Arruti as chief financial officer (CFO) to help facilitate its global growth.
The European payments services provider, which is used by a number of peer-to-peer lenders, said that Arruti (pictured) will be responsible for driving the financial strategy of the business and scaling the finance organisation to accelerate revenue growth.
Arruti was previously acting finance director for Amazon Transportation Services EU and prior to that he was CFO for Amazon Latin America, where he was responsible for strategy and operational excellence.
He spent two years at American Express as a vice president of finance, and 14 years at GE Capital in multiple roles of increasing responsibility.
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MangoPay is a white label payment solution for marketplaces and platforms. Founded in 2013, it is used by various P2P 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.
“I’m delighted to be joining MangoPay at such an exciting time in the platform economy’s growth journey and being part of a team continually innovating its already market-leading, customer-first ecosystem”, Arruti said.
“I’m ready to lead this large-scale business and I look forward to using my skills to help accelerate MangoPay’s already steep growth trajectory.”
Arruti joins MangoPay’s executive team – reporting directly to chief executive Romain Mazeries – and will oversee financial planning and analysis, pricing, accounting, treasury, business support.
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“2022 was a breakthrough year for MangoPay: we acquired our first ever company to add advanced anti-fraud capabilities on top of our existing infrastructure, added world-class investors, and laid the foundation for expected aggressive growth in 2023 and beyond”, said Mazeries.
“We have a huge opportunity in front of us and we’re building a company for the long term. Carlos has a large experience in managing complex and large PnL plans. His in-depth financial skills will be a key asset in supporting MangoPay’s growth trajectory, M&A and integration roadmaps, as well as operational efficiency.”
MangoPay has made a number of senior hires recently, including chief revenue officer Luke Trayfoot, chief technology officer Ronen Benchetrit and general counsel Olympe Leflambe.
Last month, the firm acquired AI fraud detection and prevention company Nethone, enabling it to offer bespoke anti-fraud solutions to its client base.
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