September 16, 2020
Fintech and Technology Veteran to Leverage Payments and Payment Technology Expertise Furthering Qolo’s Momentum
Fort Lauderdale, FL – September 16, 2020 – Qolo, the B2B payments hub for the New Economy, today announced that Eric Bachman, former Chief Operating Officer of Marqeta has joined Qolo’s Board of Directors. Bachman is an institutional payments veteran with over 30 years in banking, payments and building new companies.
Bachman currently advises Fintech and early stage technology companies. His experience in the Fintech and payments industries is broad and deep, including managing an operating budget in the hundreds of millions; working with regulators to navigate companies in different industries through complex and challenging regulatory hurdles; managing the sell side of four acquisitions the buy side of more than a dozen company or portfolio acquisitions and integrations; and, raising over $250MM in funding from private investors, VCs, and private equity across multiple start-ups.
“Eric has been furthering innovative financial, loyalty and payment solutions for decades. He has worked with leading financial institutions and successful start-ups,” said Qolo CEO Patricia Montesi. “We are thrilled to have him join our Board and assist Qolo’s efforts to be at the forefront of the payments industry. He believes in our mission to evolve the payments industry and bring a new approach through our first all-in-one payments solution and how we are liberating companies so they have new options to own their payments P&L.”
Bachman mostly recently served as Entrepreneur in Residence for BBVA - New Digital Businesses. While there he brought his unique perspective and key learnings as the firm focused on the challenges and opportunities of disruption and the emergence of a new finance ecosystem. He helped the bank develop new businesses and investments in a number of blockchain opportunities for the New Digital Businesses group.
While COO of Marqeta, he focused on creating the infrastructure, partnerships, and processes that allowed the company to leverage its processing technology serving multiple financial institutions and many service, technology, and financial technology companies.
“The industry finds itself at an incredible time driven by the evolving needs of New Economy companies, the pandemic and increasing disruption in the payment space,” said Eric Bachman. "Qolo has the team and the technology to become a very exciting competitor in the industry. I am excited by their efforts to bring superior payments products and better payments practices to the industry and am eager to support them in their efforts to become the next category leader.”
Bachman has played key roles as an executive in product development, product management, marketing, sales and operations at US Bank, Wells Fargo, NextCard, BankServ and CES, among other payments organizations. He has served on Visa’s Merchant Advisory Council and been a speaker at many payments and trade events. He has a BA and post-graduate study from UC Berkeley.
Founded in 2018, Qolo is the B2B payments hub for the New Economy with a mission to help businesses navigate today’s complex payments and financial transactions landscape. Qolo empowers businesses to manage payments efficiently with an eye toward growth and reduced expense. Qolo supports companies wherever speed, security and cost of payment are important including gig worker payouts, distribution payments, multi-currency and cross-border businesses and modern fintech firms. Composed of experts and entrepreneurs in payments, Qolo’s founding team has more than a century of combined industry experience. Learn more at https://qolo.io/.
Fran Del Valle