Member Article

Crezco hires former Chip Financial executive to head up growth and finance operations

Crezco hires former Chip Financial executive to head up growth and finance operations

Business-to-business open banking payments provider Crezco has appointed Ivelina Delcheva as its first Chief Financial Officer and Chief Operations Officer.

A finance expert with extensive fintech experience, Delcheva will lead the London-based startup’s growth agenda.

Delcheva joins Crezco from Chip Financial, where she was interim CFO when the company closed the biggest ever equity crowdfund on Crowdcube, with a £11.5 million raise in October 2021. Prior to that, Delcheva was COO at Auto1 Fintech, a German fintech company providing financing for cars through dealerships across Europe. She has also held roles at BNP Paribas and worked for a number of emerging financial services companies in Central and Eastern Europe.

In her new role, Delcheva will be responsible for Crezco’s growth agenda and establish KPIs and processes that reflect Crezco’s values and goals.

Ralph Rogge, co-founder and CEO of Crezco, said “We have had a strong period of growth since launching in 2020, culminating in our successful seed fundraise. To take the next step we need a strong leadership team in place, and one that brings outside experience to the table. Ivelina’s experience of both startups and the fintech space, her passion for helping businesses grow and her understanding of the opportunities and challenges of early-years companies is exactly what we need to help our finance and operations functions develop and support our growth objectives.”

Delcheva said “Having worked at a number of small businesses I know how inefficient and expensive payments processing can be, and how it hampers efforts to scale effectively. Card payments are expensive for B2Bs and are subject to delays, human error and inertia. Despite all the technological advancements, today, 90% of invoices are still processed manually. With over $120 trillion in B2B payments transacted annually, I know that even the smallest improvements can have a huge impact on businesses.”

“Crezco has built a one-of-a-kind B2B payment solution, at a time when open banking is gaining traction around the world. It is exciting to join a company that is in such a strong position to capitalise on the immense opportunity to innovate in theB2B payment space, one that is hyper-focused on the customer, technology and a great team,” Delcheva continued.

Crezco is integrated with more than 300 banks and 400m bank accounts across the EU and UK, more than any other open banking payment API provider.

Crezco makes B2B invoice payments as frictionless as card payments but without the associated costs. The company is integrated with more than 300 banks and 400m bank accounts across the EU and UK, more than any other open banking payment API provider.

Crezco recently raised £3 million in a seed funding round, which is being used to continue the company’s international expansion and add to its product range.

This was posted in Bdaily's Members' News section by Sharmee Mavadia .