Fintech-as-a-service company Send Payments has appointed Jon Sutton, a former CEO of Bank of Queensland (ASX: BOQ), to its board in a major milestone for the Gold Coast-based scale-up which specialises in international payments and foreign exchange transactions.

The appointment of Sutton to the board, along with financial advisory consultant and early investor Lloyd Harris, follows solid growth in the business since the company raised $11.5 million in a Series B round at the end of 2023 to scale operations and access opportunities in Australia and Europe.

Sutton, who resigned as CEO of BOQ in 2018 due to health reasons, has had extended ties with Send Payments which was founded in 2019 by Paul Billing, Ian Cragg and Alexandra Rofe, the latter having made this year’s Top 100 Young Entrepreneurs list.

In 2020, Sutton joined the company’s advisory board, working alongside the CEO Paul Billing and Send's management and advisory committee.

"I am excited to join one of Asia Pacific's fastest-growing payment providers,” says Sutton. “Send’s unique focus on industry verticals combined with its embedded technology see it primed for continued growth across the sector."

Sutton is currently the CEO and managing director of Scotpac, Australia’s largest independent SME financier, and he brings to the Send Payments board more than 30 years of experience in financial services through his senior roles, which includes a stint as Bankwest managing director.

Send Payments says that Sutton has “deep expertise in financial markets, M&A transactions and business growth” having overseen major commercial transitions within financial institutions.

“His wealth of industry knowledge and leadership will be instrumental in guiding Send Payments through its next phase of expansion,” says the company.

Send Payments, which has more than 23,000 end consumers and 1,100 corporate customers, operates on a B2B2C model and is now focusing on becoming an enterprise partner for companies with complex FX needs.

The fintech is disrupting the foreign exchange industry by providing lower-cost digital payment solutions for businesses and consumers looking to move money internationally.

Meanwhile, Send Payments has also announced the appointment of Lloyd Harris to the board, bringing two decades of experience in financial advisory and business consulting that has included work with some of Australia’s “most successful individuals, families, and enterprises”.

Send says that as a specialist in multi-generational wealth management, succession planning, and private equity investment, Harris offers a “unique perspective on financial strategy and risk management”.

"As an early investor, I've witnessed Send's remarkable evolution firsthand,” says Harris. “I'm thrilled to join the board and contribute to their next expansion chapter."

Peter Slater, the acting CEO of Send Payments, has welcomed Sutton and Harris to the board which he says underscores the company’s commitment to strong governance, financial excellence and long-term strategic growth.

 “Their combined experience in financial services, governance, and strategic leadership will be invaluable as we continue to innovate and expand our offerings,” says Slater.

“Jon’s expertise in banking and finance, alongside Lloyd’s deep knowledge in wealth management and investment, perfectly aligns with our vision to drive sustainable growth and enhance our product capabilities.”

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