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Global Fintech Innovator Enhances Credit Team to Fuel $70 Million in Lending Over the Next 12 Months
WALTHAM, MA / ACCESSWIRE / September 5, 2023 / Koverly, the global fintech startup providing B2B buy now, pay later (BNPL) solutions integrated into a digital payment platform, announces the strategic addition of Ben Haddon to its team in a new role as vice president of credit and revenue. Haddon will scale Koverly's lending capacity to $70 million within the next year, supporting the company's newest KoverlyPay financing feature - a 30-day extension on FX payments at no cost to the buyer or seller.
Ben Haddon brings more than two decades of expertise in the financial services sector, most recently serving as the vice president and general manager of LendingClub's (NYSE: LC) purchase finance division where he provided point-of-sale BNPL solutions to thousands of businesses. Prior to LendingClub, Haddon held executive roles within industry stalwarts such as Capital One (NYSE: COF) and Springstone Financial, a company acquired by LendingClub in 2014.
Commenting on his appointment, Haddon said, "Koverly's powerful combination of innovative technology and lending capabilities offers unique value within the global trade market. I am impressed by what the team has accomplished thus far and excited by the opportunities that lie ahead. I look forward to helping lead Koverly's next stage of growth."
"Twenty years ago, Ben Haddon and I began our careers together managing point-of-sale financing at Capital One," recalls Igor Ostrovsky, CEO at Koverly. "I'm thrilled to work alongside Ben again and collaborate on the next steps in Koverly's growth. I'm confident that his wealth of experience will spearhead the evolution of KoverlyPay and fortify our commitment to transforming B2B payments."
Since the beginning of 2023, Koverly's monthly loan originations via KoverlyPay have grown six times. The company currently processes $200 million annualized volume for both domestic and international payments, 50% of which are foreign currency transactions. Koverly also recently announced $7.6 million in seed funding.
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About Koverly
Koverly is a venture-backed B2B global payments platform with a mission to empower businesses with cash flow to improve profitability. Koverly minimizes transaction and foreign exchange fees, extends payment timelines, and ensures swift and secure fund transfers through an integrated online platform, enabling companies to gain greater control over their financial operations. For more information, visit www.koverly.com.