Flutterwave appoints former American Express executive as CFO

Oneal Bhambani, a former American Express executive, has been named Chief Financial Officer of Nigerian-based fintech company Flutterwave.

With the finest discipline, standard operating procedures, and financial prudence, the development is intended to aid the company's expansion, according to Nairametrics.

“I am excited to welcome Oneal to Flutterwave. His track record of operating finance to enable scale and innovation with listed company standard financial controls will help us accelerate our growth as we continue to meet the needs of our expanding global customer base.  I am also looking forward to working with Oneal on deal-related initiatives, given the number of inorganic opportunities we are seeing in today’s market environment,” Olugbenga ‘GB’ Agboola, Founder and CEO of Flutterwave.

After the successful completion of the firm's $250 million Series D fundraising, which valued the company at over $3 billion, the appointment was made.

Flutterwave said it is capitalizing on the network's current success by expanding its global finance team and hiring professionals with experience in controllership, treasury, and tax, according to Nairametrics.

Rebecca Mendel, a former Kabbage Controller, and Daniel Eidson, a former Kabbage Head of Treasury and Tax, were among the new hires. Oneal will have direct control over both of them.

“It is a rare opportunity to join a high-scale, de facto market leader in one of the fastest growing markets in the world. I am looking forward to partnering with Flutterwave’s team to enable solutions for our customers in Africa and across the globe. I fully expect to apply best-in-class strategies learned from my tenures at American Express and Kabbage,” said Bhambani.

Oneal comes to Flutterwave from American Express and Kabbage, where he oversaw large-scale fintech businesses and assisted in the sale of Kabbage and its integration into American Express' Global Commercial Services division.

Oneal was responsible for all financial operations and responsibilities at Kabbage, particularly IPO-ready operational and financial controls. He was the CFO and Head of Capital Markets of Kabbage's business entity, including credit, banking, and payments solutions to American Express' commercial customers, after the company was acquired by American Express in April 2022.

Oneal was a key shareholder in capital allocation both before and after the acquisition, and he spearheaded crucial organizational initiatives for the company. Oneal worked as a growth-stage investor at The TCW Group (an investment firm) earlier in his career.

This is a very big job that Flutterwave game to Oneal Bhambani, it is possible one of the top fintech CFO jobs in Nigeria.