Zepz appoints Mark Lenhard as Group CEO

The parent company of global payments brands WorldRemit and Sendwave has appointed Mark Lenhard as its new Group CEO.

Lenhard joins Zepz Group after a year as Bill.com CEO, and prior to that spent two and a half years as CEO of Invoice2go, a software platform helping independent SMBs to grow and manage payments.

He brings more than 20 years of experience to the role, having worked at Adobe and Magento Commerce and held executive roles at JPMorgan Chase and PayPal where he was head of global strategy for four years.

“I am looking forward to working with the incredible talent across the Zepz group as we embark on our next phase of global growth and strengthen the way we serve our millions of customers globally,” Lenhard said.

Lenhard also serves as a board member, advisor and seed investor to a number of growth companies in commerce and financial services.

“Mark is a senior leader with more than 20 years of experience helping companies overcome complex challenges in the payments ecosystem and developing successful go-to-market strategies for organisations across the financial services and fintech industries,” Zepz founder and non-executive chairman Ismail Ahmed said.

“I have spent time with Mark in the last few months and I believe he has the entrepreneurial leadership and strategic thinking that our business needs in the next stage of its journey,” Ahmed added. 

Zepz shared measures to cut costs earlier this year, including plans to lay off five per cent of its workforce, freeze pay and cut its marketing budget.

It also delayed its potential $6bn initial public offering, as first reported by Bloomberg, and saw a series of executive departures, including the chief technology officer and chief financial officer.

According to Bloomberg, Lenhard said the company achieved profitability this year but did not comment further.