Flutterwave Appoints Former Citi Executive as its CFO

Flutterwave has made a significant move in its leadership by appointing Mitesh Popat as the company’s new Chief Financial Officer (CFO). 

This strategic decision aims to propel the firm into its next phase of growth and enhance its financial sustainability. 

With a robust background in global financial services, Mitesh is poised to play a crucial role in shaping Flutterwave’s future.

Mitesh Popat’s Background and Experience

Mitesh Popat brings over 20 years of extensive experience in financial services, having worked across North America, Europe, the Middle East, and Africa. 

His most recent position was at Citi, where he served as the Chief Financial Officer for the Middle East and Africa. 

In this role, he oversaw finance operations across 29 countries, demonstrating his capacity to manage complex financial landscapes. 

Additionally, he was the CFO for Global Equities Sales and Trading at Citi, where he provided financial leadership for a business generating $5 billion in revenue.

Mitesh’s global perspective and deep understanding of financial operations are expected to be invaluable to Flutterwave as it seeks to expand its footprint in the digital payments industry.

Strategic Vision for Flutterwave

Flutterwave’s Founder and CEO, Olugbenga ‘GB’ Agboola, expressed enthusiasm about Mitesh’s appointment, stating, “We have an ambitious goal to connect Africa to the world, and Mitesh embodies our vision with his experience working extensively within Africa in a global capacity.” 

Agboola emphasized that Mitesh shares the company’s values of customer obsession, which is critical for driving growth in a competitive market.

The appointment of Mitesh Popat follows a series of strategic hires at Flutterwave, which has seen the company bring in executives from major firms such as PayPal, Stripe, and Western Union. 

This trend has sparked speculation that Flutterwave may be preparing for an initial public offering (IPO) in the coming years.

Recent Developments and Future Plans

In 2022, Flutterwave appointed Oneal Bhambani, a former executive from American Express and Kabbage, as its CFO after securing a $250 million Series D funding round that valued the company at over $3 billion. 

This funding has allowed Flutterwave to continue its expansion across Africa and internationally, capitalizing on the growing shift toward digital payments.

Mitesh’s role will involve overseeing Flutterwave’s corporate finance functions, ensuring that the company’s growth plans are supported by effective financial management. 

His expertise in managing finance and operational functions within complex global businesses will be crucial as Flutterwave navigates its next phase of development.

Read Next: Flutterwave Appoints Former CBN Director as New Board Chairman

Mitesh’s Commitment to Flutterwave

Upon his appointment, Mitesh Popat expressed excitement about joining Flutterwave, highlighting the unique opportunity to work with a market leader in one of the fastest-growing regions globally. 

He stated, “I am looking forward to partnering with Flutterwave’s team to enable solutions for our customers in Africa and across the globe. I fully expect to apply best-in-class strategies learned from my tenures at American Express and Kabbage.”

Mitesh’s commitment to leveraging his extensive experience in financial management will be essential as Flutterwave aims to balance resource allocation and execute its strategic initiatives effectively. 

His leadership is expected to enhance the company’s operational efficiency and prepare it for potential public listing.

Conclusion

The appointment of Mitesh Popat as CFO marks a pivotal moment for Flutterwave as it seeks to solidify its position in the digital payments landscape. 

With a strong leadership team and a clear vision for growth, Flutterwave is well-positioned to connect Africa to the global economy. 

As Mitesh steps into his new role, the industry will be watching closely to see how his expertise will influence the company’s trajectory in the coming years.

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