Luxembourg-headquartered Mangopay has appointed Sergi Herrero as its new CEO. Herrero is a seasoned executive with experience leading payment innovations at Meta, Square, and BNP Paribas. The company mentioned today (Tuesday) that the appointment marks a strategic leadership shift as Mangopay aims to strengthen its operations globally.

Leadership Shift

Previously, Herrero spearheaded payments and commerce partnerships at Meta, where he launched and scaled the company's payment capabilities. With experience at the forefront of fintech Fintech Financial Technology (fintech) is defined as ay technology that is geared towards automating and enhancing the delivery and application of financial services. The origin of the term fintechs can be traced back to the 1990s where it was primarily used as a back-end system technology for renowned financial institutions. However, it has since grown outside the business sector with an increased focus upon consumer services.What Purpose Do Fintechs Serve?The main purpose of fintechs would be to suppl Financial Technology (fintech) is defined as ay technology that is geared towards automating and enhancing the delivery and application of financial services. The origin of the term fintechs can be traced back to the 1990s where it was primarily used as a back-end system technology for renowned financial institutions. However, it has since grown outside the business sector with an increased focus upon consumer services.What Purpose Do Fintechs Serve?The main purpose of fintechs would be to suppl Read this Term giants like Square and major financial institutions like BNP Paribas, Herrero has a wealth of knowledge and leadership skills.

His leadership experience extends to VEON, a global telecommunications company, where he served as Co-CEO. He succeeds Romain Mazeries, who held the role of CEO for the last six years and played a key part in Mangopay's foundational growth. Mazeries will remain on the Board, continuing to support the company as it transitions into this new phase.

Speaking about his appointment, Sergi Herrero explained: “Mangopay provides transformational payment solutions for platforms internationally. Our offering for this expanding area of the e-commerce industry is both innovative and highly differentiated. I am extremely excited by the significant growth opportunities ahead for Mangopay and to join this talented team at such a pivotal point in the company's journey.”

“On behalf of the Board, I want to thank Romain for his leadership over the past six years,” he added. “The strong foundations that Romain and his team have put in place have set Mangopay up for long-term growth. We are extremely grateful for his unwavering commitment and I want to deeply thank him for his service as CEO.”

Acquisition by Advent International

Mangopay, acquired by Advent International in 2022, has become a significant player in providing modular payment solutions for platforms. As the e-commerce landscape continues to evolve, so does the need for sophisticated payment infrastructures.

With this leadership transition, Mangopay aims to unlock new opportunities in the platform economy, leveraging Herrero's extensive expertise in global payments Payments One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl Read this Term.

“We are excited for the next phase of Mangopay's journey, and we believe Sergi's expertise will accelerate Mangopay's continued growth and development to become one of the global payments providers powering the platform economy,” said Fabio Cali, the Managing Director at Advent International.