The Turnaround Blueprint – Why OVT’s Moment Might Just Be Starting
Over the past 5 years, we’ve seen multiple fintech and SaaS companies hit the wall—massive losses, collapsing share prices, scandals, stalled growth. But many of them didn’t just survive—they turned it around. And every one of them started the same way: with a leadership reset.
Here are the case studies that show what’s possible—and why OVT might be setting up for the same path.
Zip Co (ASX: ZIP) – From Collapse to Rebound
What happened:
By 2022, Zip had overextended globally. Its share price collapsed. Losses piled up. Investors were ready to write it off.
What changed:
Co-founder Larry Diamond stepped down. In 2023, Zip appointed Cynthia Scott as Group CEO. The new team cut costs, exited 11 countries, and sold non-core assets. They focused on Australia, NZ, and the U.S.
Outcome:
In 12 months, Zip’s share price surged over 700%. Investors returned. Zip became a takeover target again.
https://www.copyright link/street-talk/zip-co-s-turnaround-story-lands-the-bnpl-on-takeover-watchlists-20240425-p5fmgc
https://www.startupdaily.net/topic/people/zip-cofounder-larry-diamond-makes-his-exit-to-focus-on-philanthropy
Pushpay (ASX: PPH) – SaaS Comeback Story
What happened:
Pushpay’s growth stalled, it was still losing money, and shareholder frustration grew. Then co-founder Chris Heaslip resigned in 2019.
What changed:
Chairman Bruce Gordon took over as interim CEO, refocused on high-value U.S. church clients, and acquired Church Community Builder for US$87.5M.
Outcome:
Pushpay posted its first profit, revenue jumped 30%, and shares spiked. Eventually, the company was acquired for over $1Bby private equity.
https://www.nzherald.co.nz/business/pushpay-jumps-on-interim-profit-new-ceo-weighs-acquisitions/WVO2B35FGJBH6LF5V6AEEPUKQQ/
https://www.rnz.co.nz/news/business/405463/pushpay-buys-us-competitor-for-us-87-point-5m
SoFi (NASDAQ: SOFI) – From Scandal to Multi-Billion Brand
What happened:
Culture collapse. Allegations of harassment. CEO gone. Core business shrinking. SoFi’s brand was tarnished and trust was gone.
What changed:
Anthony Noto (ex-NFL CFO, ex-Twitter COO) was brought in. He cleaned house, launched new products like SoFi Money & SoFi Invest, acquired a bank, and even signed a $400M deal for SoFi Stadium.
Outcome:
SoFi became a multi-product platform, got a national brand boost, and by 2025 had over 10.9 million membersand strong revenue growth.
https://www.vox.com/recode/2019/6/11/18659010/anthony-noto-sofi-code-conference-interview
https://investors.sofi.com/news/news-details/2025/SoFi-Reports-First-Quarter-2025-with-Record-Net-Revenue-of-772-Million-Record-Member-and-Product-Growth-Net-Income-of-71-Million/default.aspx
Monzo – UK Neobank’s Rise from the Brink
What happened:
COVID crushed usage. Losses blew out. Founder burned out. The UK’s FCA launched a probe into Monzo’s compliance.
What changed:
TS Anil (ex-Visa exec) stepped in as CEO. He introduced paid subscriptions, launched Monzo Flex (BNPL), tightened costs, and built out lending.
Outcome:
By 2024, Monzo reported its first full-year profit (£15.4M) and hit £11B in deposits. It went from crisis to one of the UK’s most trusted digital banks.
https://businessleader.co.uk/content/article/485/How-Monzo-became-a-%C2%A34bn-business
https://medium.com/@Oladapo_Babs/monzos-incredible-turnaround-how-the-fintech-defied-odds-to-turn-losses-into-profit-bcef358a9b39
LendingClub (NYSE: LC) – Reinventing as a Bank
What happened:
CEO scandal. Fake loans. Shares collapsed 35% in a day. The market walked away.
What changed:
Scott Sanborn became CEO. In 2020, he bought Radius Bank and pivoted LendingClub into a digital bank model—holding more loans, reducing funding costs, and cross-selling banking products.
Outcome:
LendingClub posted 12 straight profitable quartersand doubled its book value. By 2023, it was pulling in $1B+ in annual revenue.
https://www.bankingdive.com/news/why-becoming-a-bank-is-paying-off-for-lendingclub/607434/
https://www.reuters.com/article/business/lending-club-ceo-resigns-after-internal-probe-shares-plummet-idUSKCN0Y01BK
What They All Had in Common:
A leadership change at the top
Focused strategy: cut losses, chase profitable growth
Smart acquisitions or licensing
Rebuilt credibility with execution
And massive market re-rates
Why This Matters for OVT:
BNPL license secured
50% revenue share locked in
Right of first refusal on BNPL protocol
$100M USD debt capital access (on launch)
Share and option ratifications going to vote at June 20 EGM
And most importantly… a new CEO is coming
We don’t know who yet—but if the board brings in the calibre that ran Zip, Klarna, PayPal, or Afterpay…
Then this whole story flips.
Leadership changes everything.
Execution is what comes next.
Ovanti’s moment might just be beginning.
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