Mangopay has announced that Sergi Herrero has been appointed CEO of the payment infrastructure provider. He succeeds Romain Mazeries, a co-founder who has held the role for six years and will remain a member of the Board.
The change comes two years after Advent International acquired the company in 2022. Mazeries will continue to work closely with the company, but it appears to be in an executive position.
Xavier Garambois, Chairman of the Mangopay Board, said: “Sergi brings a wealth of experience and vision that aligns perfectly with our ambitions for Mangopay. Mangopay is on an exciting growth trajectory, and we are confident that Sergi is the right leader to take the business to its next stage of development.
“On behalf of the Board, I want to thank Romain for his leadership over the past six years. The strong foundations that Romain and his team have put in place have set Mangopay up for long-term growth. We are extremely grateful for his unwavering commitment and I want to deeply thank him for his service as CEO.”
Who is Sergi Herrero
Herrero has worked in leadership roles for more than 15 years. He joins after serving as co-CEO at VEON for nearly three years, departing in July 2022. Prior to joining VEON, he was Global Director for Payments and Commerce Partnerships at Meta. At Meta, he launched and grew its payment and commerce capabilities.
He has also held senior positions at both Square and BNP Paribas and was CEO of L’Atelier BNP Paribas for five years.
Sergi has an MSc in Telecommunications Management from Spain’s Ramon Llull University. He also hold an undergraduate degree in Electrical Engineering.
Sergi Herrero noted, “Mangopay provides transformational payment solutions for platforms internationally. Our offering for this expanding area of the eCommerce industry is both innovative and highly differentiated. I am extremely excited by the significant growth opportunities ahead for Mangopay and to join this talented team at such a pivotal point in the company’s journey.”
Fabio Cali, Managing Director at Advent International, commented, “Under Romain’s leadership, Mangopay has grown to be a global category leader in the payment industry. We are excited for the next phase of Mangopay’s journey, and we believe Sergi’s expertise will accelerate Mangopay’s continued growth and development to become one of the global payments providers powering the platform economy.”
Enterprise Times: What does this mean?
Advent is clearly driving growth and believes it has found the right man to deliver it. Herrero will still benefit from Mazeries’ advice. However, seeing how he accelerates growth to meet Advent’s demand will be interesting.
Payments is a competitive market. Herrero will need to make swift decisions to keep ahead of the competition and new disruptors. Having shared the role at VEON, it will be interesting to see what lessons he has learned from that industry that will now apply.
