NIGERIA – Flutterwave, a fintech company that provides a payment infrastructure for global merchants and payment service providers across the continent, has appointed Former American Express Executive, Oneal Bhambani as Chief Financial Officer of the company.
The development is expected to facilitate the company’s expansion with best-in-class discipline, operational controls and financial rigour.
“I am excited to welcome Oneal to Flutterwave. His track record of operating finance to enable scale and innovation with listed company standard financial controls will help us accelerate our growth as we continue to meet the needs of our expanding global customer base,” Olugbenga ‘GB’ Agboola, Founder and CEO of Flutterwave, said.
“I am also looking forward to working with Oneal on deal-related initiatives, given the number of inorganic opportunities we are seeing in today’s market environment.”
The appointment came following the completion of the company’s US$250 million in Series D funding, valuing the company at over US$3 billion.
Flutterwave said it is leveraging on the growth the platform is currently witnessing, adding to its global finance team, and bringing in executives with a strong track record in controllership, treasury, and tax.
“It is a rare opportunity to join a high-scale, de facto market leader in one of the fastest growing markets in the world. I am looking forward to partnering with Flutterwave’s team to enable solutions for our customers in Africa and across the globe,” Oneal Bhambani said.
“I fully expect to apply best-in-class strategies learned from my tenures at American Express and Kabbage.”
Oneal joined joins Flutterwave from American Express and Kabbage where he managed fintech businesses operating at scale and helped lead the sale of Kabbage and its integration within American Express’ Global Commercial Services segment.
At Kabbage, Oneal was in charge of all of the company’s financial operations and functions including IPO-ready financial and operational controls.
After the American Express acquisition in April 2022, he was the CFO and Head of Capital Markets of Kabbage’s business unit, which provides credit, banking, and payments solutions to American Express’ commercial customers.
Before and after the acquisition, Oneal was a key stakeholder in capital allocation and led critical strategic initiatives for the business.
Earlier in his career, Oneal was a growth-stage investor at The TCW Group (an investment firm owned by The Carlyle Group), and Riverwood Capital. He began his career in investment banking at UBS.
Notably, the company hired Rebecca Mendel, former Kabbage Controller, and Daniel Eidson, former Kabbage Head of Treasury and Tax. Both of them will report directly to Oneal.
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