World’s first cloud native and decentralised PayTech CLOWD9 gets new chairman

World's first cloud native and decentralised PayTech CLOWD9 gets new chairman

CLOWD9, which claims to be the world’s first cloud native and decentralised payments processing platform, has named Peter Selman as chairman.

As a co-founder Selman offers strategic counsel and direction for CLOWD9. In the role, Selman will work with CEO Suresh Vaghjiani to help the PayTech company scale globally.

Prior to CLOWD9, Selman served as head of global equity derivatives at Deutsche Bank, where he led a significant re-engineering of the business. Additionally, he served as co-head of Americas markets.

Speaking on the announcement, Selman said, “The momentum we have already seen behind CLOWD9 is impressive, successfully building a platform from first principles that brings payments processing into the modern age and establishing ourselves as a genuine challenger to the current operating model.

“This has all been made possible by the experience and dedication of the team, and the traction we are already seeing with clients is testament to the need for a new generation of payments platform. I am unbelievably excited by the potential of the business and look forward to supporting its continued success.”

Headquartered in London, CLOWD9 was founded by Selman, Vaghjiani, Cosmo Spens, Artur Grabowski and Robert Hampel. It stylises itself as the world’s first cloud native and decentralised payments processing platform.

It was established to transform the technology that underpins the global payment system. Built entirely on the cloud, it has removed the need for physical hardware and its decentralised model allows virtual access to the platform around the world, via ‘instances’. Each payment transaction is routed to the nearest cloud to ensure speed and reliability.

CLOWD9 launched its services earlier this month.

In other PayTech news, Kudos recently raised $7m for its seed funding round. The company allows users to shop online and earn money when they spend.

Copyright © 2022 FinTech Global

Enjoying the stories?

Subscribe to our daily FinTech newsletter and get the latest industry news & research

Investors

The following investor(s) were tagged in this article.