Pockit bolsters Monese acquisition with new board appointments
Following its acquisition of mobile banking services provider Monese earlier this month, UK fintech Pockit has unveiled Gene Lockhart and Malcolm Le May as its two latest board appointments.
Pockit supports Monese integration with new appointments
Blackstone advisor Lockhart is the former president and CEO of Mastercard International, while Juno Capital founder Le May previously served as CEO of Vanquis Banking Group until July last year.
In a statement, Pockit says the appointments will “support management in the next phase of the company’s growth”, which is to include the formation and delivery of a “fintech for the financially underserved and lower-middle-income consumers across the UK and Europe” through the firm’s acquisition of Monese.
Together, the combined companies are expected to generate almost £30 million in annualised run-rate revenue while serving around three million customers.
Virraj Jatania, CEO and founder of Pockit, is leading the new venture, while Monese CEO and founder Norris Koppel is assisting in the transition process.
Alongside the appointments, Pockit has also reconfirmed its £15 million equity capital commitment to the integration with shareholders led by Puma Growth Partners and Concentric, among others.
