CAB Payments, a UK-based B2B cross-border payments provider specializing in frontier markets, has announced the appointment of Neeraj Kapur as its new Chief Executive Officer, succeeding current CEO Bhairav Trivedi, who is set to step down on March 26, 2024.
Outgoing CEO Trivedi, with over three years of service, will transition to a senior advisor role to the board, ensuring a seamless handover of responsibilities to Kapur. Additionally, Trivedi will lead efforts to strengthen relationships with customers, central banks, and regulators.
Kapur brings a wealth of experience to his new role, having served as Group CFO at several reputable organizations, including Vanquis Banking Group, Provident Financial Group, and Secure Trust Bank PLC, where he accumulated nine years of invaluable experience. His background as an RAF fighter pilot and qualifications as a chartered accountant further enhance his credentials.
Commenting on the transition, Trivedi highlighted the progress achieved during his tenure, emphasizing the expansion of the customer base and global presence, along with clear priorities to enhance FX and payments capabilities.
The CEO transition follows CAB Payments’ initial public offering (IPO) in July last year. Despite experiencing a significant decline in stock value in October due to downgraded yearly growth forecasts, the fintech has shown resilience, with its share price rebounding since then. Nonetheless, the current valuation remains at approximately one-third of the initial IPO valuation achieved in July.
As CAB Payments aims to expand its customer network across Europe and the US, Kapur’s appointment is expected to drive growth and strategic initiatives in these markets.
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