Spenmo Announces Leadership Transition

SINGAPORE,June 27,2023 -- Singapore-based payables management software platform,Spenmo today announced that Founder and CEO,Mohandass Kalaichelvan is to step down from his role to assume an advisory position,while remaining on the company's Board of Directors. The Board has appointed Justin Choi,an experienced tech industry leader,as its new CEO.

Mohandass,who founded the Company in 2019,will work closely with Choi over the coming months to ensure a smooth leadership transition. Under Mohandass,the Company has provided its payables management software offerings to thousands of business customers across Asia and established itself as the category leader in the region.

Mohandass said: "It has been an honor to build a software platform for businesses and their finance teams and there's so much more to be done. I remain committed to supporting Spenmo as an advisor and board member and look forward to the next phase of my journey with the company."

"I would also like to welcome Justin who is well-respected within Asia's tech ecosystem. His experience will strengthen the foundations of the company to support scalability and innovation."

Choi brings a successful 20+ year track record as a senior operating executive in the technology sector at companies such as Gojek and Coinbase and as a private equity investor at firms including CVC Capital Partners.

Justin said: "Over the years,Spenmo has become a valued partner to companies looking to achieve greater productivity,control,and visibility over expenses so that they can focus their efforts on growing and running their businesses. I am grateful for this opportunity and am excited to lead Spenmo during this critical period for the company. I look forward to working closely with the Board to chart a course for the future and drive the business forward."

Choi will lead an executive team,which includes Co-Founder and Chief Technology Officer,Isaq Ahmed,and recently appointed Chief Product Officer Jo-ann Chung. Chung is a seasoned product executive with over 20 years of experience in the software and fintech industries with companies such as WLTH,MYOB,Oracle,and National Australia Bank.

Spenmo's Board of Directors said: "The Board is grateful for the leadership and vision Mohandass has driven to date and excited that Justin has agreed to lead Spenmo's next phase. Justin is a trusted industry veteran and proven strategic leader who will be focused on exploring different avenues of sustainable growth and value creation for the business."

Spenmo is a leading payables management software platform for businesses and is backed by global and regional investors including Insight Partners,Global Founders Capital,Tiger Global,Lee Fixel's Addition,Y Combinator,Salesforce Ventures and Alpha JWC Ventures.