Portfolio Company News: ConnexPay Appoints Ben Peters as Chief Executive Officer

ConnexPay, the world’s first all-in-one platform for managing PayIns and PayOuts, has appointed Ben Peters as chief executive officer.

Peters brings more than two decades of experience leading and scaling global payments and vertical software companies. Robert (Bob) Kaufman, founder of ConnexPay, will remain actively involved in the business, assuming the role of chairman of the board of directors and working alongside Peters to continue driving ConnexPay’s strong growth trajectory.

“Under Bob’s leadership, ConnexPay has built a unique end-to-end platform to accept and make payments that is transforming payments experiences for customers, meanwhile achieving remarkable growth and establishing a collaborative culture that is a gold standard in our industry,” said Ben Peters, CEO at ConnexPay. “I am excited to join ConnexPay and take the reins from Bob, someone I’ve long admired and am lucky enough to call a friend. I look forward to working closely with Bob and the entire ConnexPay team as we continue to deliver on the firm’s track record and create innovative products across new payments verticals to further strengthen our market-leading offering."

Peters is a seasoned payments executive whose vast experience spans the utility, fleet, and insurance sectors. Before joining ConnexPay, Peters served as chief operating officer for VPay, a digital claim payment processing platform for insurers, which was acquired by Optum in 2021. Peters remained with the company after the acquisition, spending over six years as COO. Peters’ leadership experience also includes nearly a decade as CFO at three vertical software companies: ChoicePay, an electronic bill payment solutions platform for billers, Fleet One (acquired by Wright Express in 2012), a vehicle fleet management services platform, and IOD (acquired by New Mountain Capital in 2015), a healthcare IT data platform. 

Kaufman added: “Ben is a world-class leader, who I have had the pleasure of getting to know over the last 18 months. His proven track record of growing and scaling companies, combined with his deep payments expertise, make Ben an optimal fit for our next chapter. Furthermore, our shared values in terms of how we approach culture, customer service and innovation provide great continuity and a solid foundation for Ben to lead ConnexPay into the future. I look forward to our continued partnership and collaboration.”

“We have had the opportunity to partner with ConnexPay from the beginning and to be part of the impressive growth they’ve sustained since 2018,” said BIP Ventures General Partner Austin Poole. “Bob has led the company through the strong headwinds that COVID created. We shared the conviction that he and the ConnexPay team had in the potential of the company, and it’s exciting to see where they are now and the opportunities ahead.”

In 2023, ConnexPay earned two distinguished honors, earning a place on the Inc. 5000 list of fastest-growing companies in America and being named the Travel Innovator of the Year at Phocuswright 2023. In addition, in November 2023, the company announced it had doubled its customer base in the 12 months since FTV’s investment. 

Read the original release on the wire.