Payments provider Crezco hires ex-Chip exec as joint CFO and COO

B2B payments provider, Crezco, has hired Ivelina Delcheva – the former interim CFO of digital savings fintech Chip – to take on a dual role as the first CFO and COO of the company.

Delcheva’s credentials include steering Chip through to completion on a £11.5m equity crowdfund in October last year, as well as careers at both BNP Paribas and German car financer, Auto1 FinTech.  

In her new role, Delcheva will be responsible for driving Crezco’s growth agenda, developing its finance and operations functions, and establishing the company’s KPIs and processes.

Launched in 2020, Crezco uses open banking methods to provide payments services for businesses, without the associated costs. The fintech is now integrated with over 300 banks and 400m bank accounts across the EU and UK, which it claims is more than any other open banking payment API provider.

“Having worked at a number of small businesses I know how inefficient and expensive payments processing can be, and how it hampers efforts to scale effectively,” said Delcheva.

“Card payments are expensive for B2Bs and are subject to delays, human error and inertia. Despite all the technological advancements, today, 90 per cent of invoices are still processed manually. With over $120 trillion in B2B payments transacted annually, I know that even the smallest improvements can have a huge impact on businesses.”

Crezco raised £3m in a seed funding round in 2021, which the company says is being used to continue its international expansion and add to its product range.

Ralph Rogge, co-founder and CEO of Crezco, said: “We have had a strong period of growth since launching in 2020, culminating in our successful seed fundraise. Ivelina’s experience of both startups and the fintech space […] and her understanding of the opportunities and challenges of early-years companies, is exactly what we need.”