Monavate, a Cambridge-based fintech, has appointed three new senior position hires in support of a multi-sector business growth strategy.
The company has named Davide Antonioli as Head of Revenue Growth, Paul Marsden as Head of Risk and Justin Waters as Head of Operations, with all three working in Monovate’s Supply Chain Payments division.
Anant Patel, President of Supply Chain Payments at Monavate, said: “The global B2B payments market ranges from $100trn to $150trn, and businesses everywhere experience a growing need for efficiency, innovation and a departure from outdated workflows and practices that pose barriers and add risk to businesses.
“Monavate’s new Supply Chain Payments division aims to bring order to this over-burdened, over-complicated landscape, and I welcome the new joiners to our endeavour. Together, we will make payments an accelerator, not an inhibitor, for businesses across the globe.”
Founded in 2020, Monavate has identified the travel, marketplaces, and logistics and haulage sectors as key targets for its services, operating with a goal of reducing friction in the payments journey.
The company is licensed in the UK by the Financial Conduct Authority (FCA) and for activity in the European Economic Area (EEA) by the Bank of Lithuania.
In the latest expansion during its three years of activity, Monavate launched its Supply Chain Payments unit in 2023, the division which it hopes to bolster via the new leadership appointments.
Antonioli joined the firm following tenures with the likes of eNett, Amadeus and ConnexPay, whilst Marsden has worked in risk, compliance and financial crime in the insurance and gaming sectors. Lastly, Waters was chosen for his experience in managing onboarding and client-facing teams.
The company makes the changes at a significant time for European and UK fintech, with developments occurring across the continent. In the UK, the government’s Future of Payments Review concluded with several recommendations for the government regarding the payments and fintech sectors, whilst in the EU a political agreement has been reached on instant payouts and cybersecurity rules are close to being updated.