Plooto Announces Change In Executive Leadership

Plooto, a leader in end-to-end payment automation solutions for small to medium-sized businesses (SMBs), announced today that its board of directors has appointed Serguei Kloubkov and Wajdi Ghoussoub as interim co-Chief Executive Officers.

Kloubkov and Ghoussoub will take over responsibilities for Plooto co-founder and CEO Hamed Abassi, who has departed the company.

Kloubkov, also a co-founder of Plooto, currently serves as the Company's Chief Technology Officer. Ghoussoub joined Plooto in 2019, since then rising to Senior Vice President of Finance and Operations and shepherding the company to achieve a remarkable 433% revenue growth rate between 2019 and 2022.

Albert Wahbe remains Chairman of Plooto's Board of Directors, which also includes Directors from Centana Growth Partners, which led Plooto's late-2022 Series B fundraise, and from FINTOP Capital, which led the Company's Series A fundraise in 2021.

The transition follows other recent leadership appointments, including Tamar Kassoff as Vice President of Marketing, Esther Krabbe Silveira as Vice President of Risk, Carol Haverty as Vice President of Partnerships, and Christopher Wassenaar as Chief Compliance Officer.

"Plooto was founded to make it simpler and more efficient for small- and medium-sized businesses to handle their payments," said Serguei Kloubkov. "Hamed's efforts have helped build the company into a top-tier payment automation solution that we look forward to leading into its next chapter."

"We have hired a roster of incredible leaders over the past eight months and I am excited to continue the journey of working together to take Plooto through the next phase of growth," commented Wajdi Ghoussoub.

Co-founded in 2015 by Abbasi and Kloubkov and headquartered in Toronto, Plooto serves over 10,000 North American businesses, and integrates with top accounting software platforms Quickbooks, Xero, and NetSuite. Simplifying complex processes at scale, Plooto is the financial engine businesses rely on to achieve their growth potential.