One Equity Partners appoints former CEO of controversial FinTech startup Mozido as new operating partner

From: AltAssets

The former boss of beleaguered mobile payments and commerce company Mozido has joined private equity firm One Equity Partners as its new operating partner.

R. Todd Bradley will take up the role after having served most recently at Mozido, the FinTech startup that he joined in 2015 and later sued in 2018, accusing the company of having failed to pay him his $1m sign-on bonus and to repay a $600,000 loan he made to the company, according to a Forbes report. The complaint also said that he had not been paid one year of salary nor his severance benefits. Mozido was said to be denying the claims.

In February 2019, Mozido’s founder Michael Liberty was indicted by federal prosecutors accusing him of having committed criminal fraud in connection with his fundraising activity around the once highly valued startup. He was accused of misleading shareholders and diverting millions of dollars to pay for things like interior-decorating services, according to the Wall Street Journal. Mozido has reportedly changed its name to Fintiv.

Prior to Mozido, Bradley served as president of TIBCO Software, an enterprise infrastructure software provider, where he led its worldwide expansion and transitioned its business model to software-as-a-service. He had also worked as a senior executive at Hewlett-Packard.

Bradley will enjoy a broad mandate as an operating partner at One Equity partners. he will help its investment teams identify operational excellence opportunities within the firm’s portfolio and with respect to new investments.

“I’m thrilled to join OEP at a time when there is increasing worldwide demand for next generation IT infrastructure, enterprise solutions and best-in-class managed services,” said Bradley. “I look forward to working closely with [senior managing director Chip Schorr] and OEP’s investment professionals in evaluating new platform investments and transformational acquisition opportunities for the firm’s portfolio companies.”

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