Former Zip U.S. CFO Simon Keast Named CEO of Ovanti Limited:...

Former Zip U.S. CFO Simon Keast Named CEO of Ovanti Limited: Poised to Lead Major U.S. Expansion in the Buy-Now-Pay-Later Market

Melbourne, Australia, October 17, 2024 – Ovanti Limited (ASX: OVT) has made a major move by appointing Simon Keast, former U.S. CFO of Zip Co Limited (ASX: ZIP), as its new Chief Executive Officer, effective November 1, 2024. Keast, who played a critical role in Zip's rise as a global leader in the Buy-Now-Pay-Later (BNPL) industry, is now set to lead Ovanti’s ambitious expansion into the U.S. market.

Zip, a powerhouse in the BNPL space, operates in more than 12 countries and has rapidly expanded its reach in the United States, where it competes with giants like Afterpay and Klarna. Under Keast’s financial leadership, Zip’s U.S. operations saw a turnaround that firmly established the company as a major player in one of the world’s most competitive markets. This successful stint at Zip underscores Keast’s ability to drive growth in challenging environments, making his transition to Ovanti a significant development for the company.

A Strategic Appointment with Game-Changing Potential

Keast’s appointment comes at a pivotal time for Ovanti, which is looking to break into the U.S. BNPL market—a sector projected to continue its explosive growth as consumers increasingly favor flexible payment options. Ovanti’s decision to bring Keast on board is no coincidence; his proven track record at Zip is seen as a key ingredient to achieving the company’s ambitious growth goals.

“I’m incredibly excited to join Ovanti and help lead the company into the U.S. market, which presents enormous potential for BNPL services,” said Keast. “My experience with Zip taught me the importance of innovation, adaptability, and customer-focused growth, and I see those same qualities in Ovanti. We have a tremendous opportunity ahead of us to carve out a significant share of the U.S. market.”

During his tenure at Zip, Keast played a pivotal role in scaling the company’s U.S. operations, overseeing its financial strategy as the company expanded aggressively across the globe. Zip's rise to prominence has been one of the defining success stories in the BNPL sector, and Keast’s expertise in navigating the complex U.S. market makes him the ideal choice to replicate that success at Ovanti.

The Next Frontier for Ovanti: U.S. BNPL Market

David Halliday, Chairman of Ovanti Limited, hailed Keast’s appointment as a turning point for the company. “Bringing Simon on board is a statement of intent from Ovanti. His leadership at Zip, particularly in driving their U.S. success, speaks for itself. He brings unparalleled experience in scaling BNPL operations in a market that’s both lucrative and highly competitive. We are confident that Simon’s vision will accelerate Ovanti’s growth and help us seize the vast opportunities in the U.S.”

Ovanti’s U.S. expansion strategy includes building its BNPL service from the ground up, opening a new office, and rapidly growing its transaction volume. Keast’s goal is to capture market share in a country where BNPL is expected to continue booming, driven by demand from consumers looking for flexible payment solutions.

A Defining Opportunity for Ovanti

Keast’s mandate is clear: bring the same energy and expertise that propelled Zip’s U.S. expansion to Ovanti. The company plans to secure key partnerships with major U.S. retailers, aiming to establish itself as a top player in the American BNPL space. Keast's leadership will be crucial in navigating this competitive landscape, but his track record at Zip suggests that he’s up to the challenge.

Zip’s growth trajectory under Keast’s financial stewardship demonstrates the massive impact BNPL can have on both consumers and retailers, and Ovanti’s shareholders are eagerly anticipating a similar rise under his guidance.

About Ovanti Limited
Ovanti Limited (ASX: OVT) provides fintech and digital commerce software solutions, enabling institutional customers to securely authenticate end-users and process banking, purchase, and payment transactions. Ovanti’s core technology platform serves leading banks and large corporations across Asia and is now poised to enter the U.S. market with its innovative BNPL service.