African funds big Flutterwave has appointed Mitesh Popat as chief monetary officer (CFO) 9 months after former CFO Oneal Bhambani left the corporate.

Popat held government positions at Citi together with CFO for Center East and Africa and International Equities Gross sales and Buying and selling. He’ll oversee Flutterwave’s company finance features. 

With twenty years of expertise in world monetary providers throughout completely different markets, Popat will likely be instrumental in driving Flutterwave’s subsequent part of development and monetary sustainability, the corporate stated in a press release.

“I’ve a deep understanding of the working setting in Africa and complexity of working an rising market enterprise and I plan to deliver my expertise in rising Flutterwave, whereas optimising our enterprise mannequin for sustained profitability,” Popat stated.

The ex-Citi CFO replaces Bhambani who resigned simply 18 months after becoming a member of the fintech startup. In March 2024, Flutterwave’s chief working officer, Bode Abifarin left the corporate after six years of main its operations. These high-profit exits had raised questions concerning the firm’s much-talked-about IPO plans.

Popat’s hiring comes months after the corporate rethought its product technique to deal with enterprise and remittance. In March 2024, it shut down the struggling Barter, a digital card and worldwide funds service it launched in 2017. In 2023, it relaunched its worldwide remittances product, Ship App, and launched different choices to assist native companies swap worldwide currencies.

“As our new CFO,  his work will likely be including worth to our clients – each enterprise retailers and retail remittance clients, in addition to the African fintech ecosystem,” stated Olugbenga Agboola, Flutterwave CEO.