Weel has expanded the role of its current chief financial officer Damon Hauenstein, and given him chief operating officer responsibilities as well.
Hauenstein will oversee Weel's daily operations as COO, on top of his existing CFO responsibilities, Weel said.
He joined Weel in 2022 as the company's first CFO, having spent a decade at Citi as its director of the global investment banking team.
Hauenstein said he is joining Weel at a critical juncture in the company's scale-up journey, and now has the foundations in place to pursue an ambitious global growth strategy.
The corporate spend management company said its operations have grown significantly in recent years and the company is now processing over $500 million in transactions annually.
It has partnered with Visa and Singaporean real-time payments firm Nium.
The company was founded by Daniel Kniaz in 2017, and was formerly know asn DiviPay. Kniaz is Weel's chief executive currently.
WIth an easy-to-use web and mobile app, Weel lets organisations and finance teams better manage, control and streamline their spending.
Weel said it raised $20 million in Series A funding in 2021 from global fintech investors.
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