Banking Circle Group is pleased to announce that Jim Snabe will become the Chairperson of its Advisory Board.
Jim Snabe will work closely with Banking Circle Group CEO & Co- founder, Anders la Cour, and the majority shareholder EQT VIII, “to continue the rapid profitable growth of Banking Circle Group.”
Jim Snabe joins “with more than 30 years of experience within the technology industry.”
He was previously “the Global Co-CEO of SAP and Chairperson of Mærsk, and is currently serving as the Chairperson of Siemens, Board member at C3.ai, and as a member of the Board of Trustees at World Economic Forum.”
Based on a highly differentiated value proposition to customers globally, Banking Circle Group is currently “growing its revenues in the triple digits with more than EUR 150 million of run-rate revenues and is already processing more than 10% of all eCommerce payments volumes in Europe.”
Anders la Cour, Co-Founder & Group CEO of Banking Circle Group, commented:
“We are excited to welcome Jim Snabe as Chairperson of our Advisory Board. He is joining with a wealth of experience in building strong teams in fast growing companies and will bring highly valuable experience and a unique perspective to Banking Circle Group, where he has been a shareholder since summer 2016.”
Mads Ditlevsen, Responsible Partner at EQT and Head of EQT Denmark, added:
“I am delighted to have Jim Snabe joining at this very exciting time for the Banking Circle Group. Compared to when EQT invested in the business 4 years ago, it has already grown revenues close to 15x and the momentum has never been as strong as it is now.”
Jim Snabe concluded:
“Banking Circle Group is a unique company group which is transforming financial infrastructure and cross-border payments. I have followed the Group since inception, and I am deeply impressed by what the team has already achieved. I am equally attracted to the future potential. I am very excited to support the Group for the next phase of the journey.”
As covered, the Banking Circle Group ecosystem “serves payments companies, banks, Non-Bank Financial Institutions, global marketplaces and online merchants through a rich set of complementary e-commerce and banking solutions.”
These reportedly “include global cross-border payments, accounts, virtual accounts and liquidity management, revenue-based financing, business payments and card issuing, B2B Buy Now Pay Later and account-to-account payment methods.”
Banking Circle Group is “owned by EQT VIII and EQT Ventures, in partnership with Banking Circle S.A.’s founders.”
The Group entities “have offices in Amsterdam, Boston, Copenhagen, London, Luxembourg, Munich, Newcastle, Singapore, Stamford (Connecticut) and Vilnius.”