MineralTree Taps Comdata Veteran As President

Banking and B2B payments veteran Vijay Ramnathan has joined MineralTree as its new president, the company announced in a press release on Wednesday (Oct. 2).

Accounts payable (AP) and payment automation provider MineralTree said Ramnathan will work closely with Chief Executive Officer Micah Remley.

“Vijay’s deep experience in all aspects of B2B payments, particularly with two top 20 banks, will be an enormous addition to the MineralTree team as we transform the B2B payment process and focus on delivering deep value to middle-market businesses through our bank partners,” Remley said in the announcement. “As we continue to grow rapidly, Vijay’s leadership will be key to driving MineralTree’s leading SaaS application and go-to-market strategy.”

Ramnathan was most recently the product head at COMDATA Corporate Payments and before that held product management leadership roles at U.S. Bank and Fifth Third Bank. 

“I’ve followed MineralTree for many years, and I’m thrilled to join such a talented team that is creating tremendous value for their clients,” said Ramnathan. “AP Automation solves the growing need middle-market businesses have to reduce manual processes within their financial operations. MineralTree’s focus on leveraging technology to automate and remove friction in the Invoice to Pay process does just this.” 

MineralTree works to streamline AP on an integrated platform. 

“There is a huge opportunity in helping growing companies transform and streamline their AP departments, and I am honored to join a company at the forefront of this ongoing transformation,” Ramnathan added.

Remley was appointed as MineralTree’s new CEO in May, following former CEO BC Krishna, who transitioned to the role of strategic advisor.

Remley was formerly MineralTree’s chief operating officer, a position he held since July 2018. 

MineralTree noted its recent 80 percent revenue growth and $50 million funding round led by Great Hill Partners. That investment, announced in March, followed a partnership with Mastercard in which Mastercard’s commercial card spend management solution In Control is integrated into MineralTree’s Invoice-to-Pay platform. The integrated solution is offered to financial institutions, which can connect their own corporate customers to the tool.