When B2B payment technology provider Traxpay spoke with PYMNTS last year, the company’s CEO John Bruggeman discussed venture capitalists’ recent investment of $15 million into the startup. That backing, the executive said, would propel the company to take a stake in the massive B2B market, which Bruggeman described as four times the size of the B2C sector.
Now, Traxpay has revealed new leadership within its Supervisory Board to continue its growth in such a significant industry. The company revealed Tuesday (March 31) that former Skrill CEO Siegfried Heimgärtner would take on the position as the Chairman of the Board.
Only days ago, Skrill announced plans to merge with Optimal Payments in a $1.2 billion deal.
Prior to his time at Skrill, Heimgärtner served as Executive Vice President and Chief of Staff at France’s Ingenico. Altogether, Traxpay said Heimgärtner has more than three decades of FinTech experience to bring to the company. According to Bruggeman, Heimgärtner’s network will also prove instrumental to helping Traxpay’s growth.
“It is clear that Traxpay and its B2B Dynamic Payments platform has become a force in the future of B2B commerce, and is breaking down boundaries between businesses by enabling supply chains to transact more intelligently in an ever-extending digital world,” the new board chairman said in a statement.
Traxpay has nabbed the attention not only from investors like Earlybird Venture Capital, but from industry players thanks to the company’s B2B payments transaction services. Part of that success, Bruggeman told PYMNTS last September, is its ability to actually move payments between businesses, instead of simply providing data and insight about transactions between companies.