BOSTON - Flywire Corporation (NASDAQ:FLYW), a global payments and software company, announced today that Cosmin Pitigoi will take over as Chief Financial Officer starting March 4, 2024. Pitigoi, a former senior finance executive at PayPal (NASDAQ:PYPL), is set to oversee various financial operations at Flywire, including accounting, financial planning and analysis, and treasury functions.
The appointment comes as Flywire experiences rapid growth, serving over 3,700 clients in sectors such as Education, Healthcare, Travel, and B2B. Mike Massaro, CEO of Flywire, expressed confidence in Pitigoi's ability to scale the company's financial operations and enhance its global presence, citing his extensive experience in the field.
Pitigoi's career spans two decades in finance, with leadership roles at PayPal and eBay (NASDAQ:EBAY), and earlier stints at ETrade and Barclays. His contributions to PayPal included leading a global team responsible for financial planning and analysis, operational finance, and pricing. He also participated in governance as a board member at Paidy and as the audit committee chair of the PayPal Giving Fund. Pitigoi holds an M.B.A. from Santa Clara University and a B.Comm. from Stellenbosch University.
In his statement, Pitigoi expressed enthusiasm for his role in driving Flywire's growth and delivering value to its stakeholders. He emphasized the company's potential for further expansion due to its combination of payment solutions and software.
Outgoing CFO Mike Ellis will transition into a senior advisory role to ensure a smooth handover. Massaro acknowledged Ellis's significant contributions to Flywire, including his role in taking the company public and overseeing strategic acquisitions.
Based in Boston, Flywire has positioned itself as a leader in enabling complex payments globally, integrating with ERP systems like NetSuite to streamline payment processes for clients. The company operates in over 240 countries and territories, supporting transactions in more than 140 currencies.
This announcement is based on a press release statement, and Flywire has made forward-looking statements regarding its future operations.
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