Yaspa appoints Chris Lower as its first CFO as the fintech eyes European expansion and moves to formalise its financial operations amid rising losses and increasing investor scrutiny.
Open banking fintech Yaspa has appointed Chris Lowe as its new Chief Financial Officer, as the company prepares to scale operations across Europe and navigate a more complex financial landscape.
Lowe steps into the role after serving as Yaspa’s fractional CFO since October 2024, brought in through his position as Chief Strategy Officer at Irish financial consultancy Fitzgerald Power.
He now joins the company full-time to lead its finance function during what CEO James Neville described as a “critical stage” in its evolution.
The London-headquartered firm, which provides instant payments and identity services to iGaming platforms using open banking and AI, is aiming to expand into new geographies and sectors in the coming year.
Lowe, a chartered accountant, brings more than a decade of experience advising high-growth businesses on financial modelling, fundraising and scaling. His appointment comes as Yaspa looks to formalise financial structures and improve operational oversight.
“It’s a hugely exciting time to join Yaspa on its growth journey,” said Lowe in a statement. “I thrive on bringing clarity to complexity through the numbers, helping to chart a confident course through dynamic conditions.”
Financial backdrop
The move follows the publication of Yaspa’s latest annual accounts, filed under the entity Citizen UK Holding Ltd, which reveal a company still operating at a significant loss but with clear signs of growth investment.
For the year ended September 30, 2023, the company reported net liabilities of £582,095, a modest improvement from £607,176 the previous year. Retained losses deepened to £5.05 million, up from £3.68 million, reflecting continued expenditure during a period of development and expansion.
Yaspa’s cash position improved notably, rising to £126,652 from just £11,000 in the prior year, largely driven by an injection of capital. The company’s share premium account increased by more than £1.4 million.
The accounts were filed under the small companies regime and are unaudited.
Sign of maturity
While the company has yet to turn a profit, the appointment of a full-time CFO is a clear signal that Yaspa is preparing for a more mature phase of growth.
CEO Neville acknowledged Lowe’s influence to date, saying he had already helped “sharpen our financial strategy” in preparation for expansion.
“His experience scaling fast-moving businesses and navigating complex financial environments makes him the ideal person to lead Yaspa’s finance function full-time,” Neville added.
With the fintech sector under increased scrutiny for balancing growth with long-term sustainability, Lowe’s appointment may also help reassure investors and future partners of Yaspa’s strategic intent. The move positions the company to handle the pressures that come with rapid scaling, including regulatory compliance, capital deployment and financial discipline.
Yaspa operates in a competitive and increasingly regulated space. Its focus on the iGaming sector adds to the importance of strong financial controls and governance.
