Flutterwave appoints former American Express executive, Oneal Bhambani as CFO
Oneal joins from American Express, where he was Vice President, Chief Financial Officer and head of Capital Markets of Kabbage, one of the world’s largest fintech platforms offering credit, banking and paymentssolutions.
Previously, as CFO of late-stage, pre-IPO Kabbage, Oneal helped leadits acquisition and integration within American Express. Oneal’s experience managing large-scale operations and capitalmarkets will help continue Flutterwave’s growth, accelerate the company’s expansion, further develop credit products and prepare fora potential IPO in the future.
Former Kabbage Controller, Rebecca Mendel, and former Kabbage Head of Treasury and Tax, Daniel Eidson, have also joined the companyand will report directly to Oneal. Following its Series D funding round in February 2022, which valued the company at over $3 billion, Flutterwave continues to deliver strong growth as the African economy increasingly shifts to digital payments.
Before and after the acquisition, Oneal was a key stake holder 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. This period of growth has enabled Flutterwave to further add to its Global Finance team, bringing in executives with a strong track record in controllership, treasury, and tax. The company hired Rebecca Mendel, former Kabbage Controller, and Daniel Eidson, former Kabbage head of Treasury and Tax. Both Rebecca and Daniel will report directly to Oneal.
Olugbenga 'GB' Agboola, Founder and CEO of Flutterwave, said: “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. 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.”
Commenting on his appointment, Oneal Bhambani said: “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. I fully expect to apply best-in-class strategies learned from my tenures at American Express and Kabbage.”