What’s next for buxp and its CEO?
The new CEO of buxped, a payment platform for online payments, has been hired to take over from outgoing CEO John Kavale.
The former Singaporean investor and entrepreneur, who has previously held the position of vice president and managing director at PayPal, will take over after the end of the year.
Mr Kavaleso, who will also become president and chief operating officer of Buxped in Singapore, said in a statement that he was “very excited to join the Buxp team”.
The move comes at a time when many payment providers are struggling to grow their user bases. “
I’m delighted to be joining this team and will work to build a successful company that can drive global growth and deliver innovative solutions to our customers and businesses.”
The move comes at a time when many payment providers are struggling to grow their user bases.
Earlier this year, Alibaba, the world’s biggest ecommerce company, announced it was pulling out of BexPay after more than a year.
Mr Kavarso is believed to be the company’s second CEO in three years.
He previously served as vice president at the ecommerce giant from 2016 to 2017.
At the time, Bexped CEO Alex Bux, who left Bexp last year, said that the company had to take a different path to scale.
“We believe in our product, and it is the right thing for our business to be on BexP,” he said at the time.
“However, we cannot ignore the need to scale our business further to take advantage of the tremendous opportunities and innovation in payment in the next decade.
Buxped has been trying to expand its customer base in the region since it was founded in 2014.
The company has grown from a startup into a major player in the payments space.
However, its growth has been slower than the likes of PayPal, Amazon and Apple, all of which have seen their user numbers grow.
Last year, Buxpt received $1.4 billion in funding from Chinese internet billionaire, Alibaba founder and billionaire Mark Pincus.