Ovanti launches global search for high-calibre US CEO to lead NASDAQ ambitions
Ovanti Limited (ASX: OVT) has announced an Ovanti US CEO leadership change, with Peter Maher resigning as CEO of Flote US Inc. effective immediately. His contractual notice period concludes 25 May 2026. The Board has framed this as a strategic upgrade rather than a setback, with the company now seeking a higher-profile leader capable of steering a fintech challenger through rapid US commercialisation and a potential US$300 million NASDAQ listing via SPAC transaction.
Daler Fayziev, Chairman and Group CEO of Ovanti, has been appointed Interim CEO of the US business with immediate effect. He will be supported directly by Alessandro (Alex) Gambotto, Chair of Ovanti’s US Advisory Board, who brings deep sector experience having sold The Missing Link to Infosys for a valuation exceeding A$100 million.
| Role | Outgoing | Interim | Key Change |
|---|---|---|---|
| Flote US CEO | Peter Maher | Daler Fayziev | Upgrade to Group CEO oversight |
| US Advisory Support | — | Alessandro Gambotto | A$100m+ exit experience added |
| Notice Period | — | Concludes 25 May 2026 | — |
The Board acknowledged that while Maher made certain positive contributions during his tenure, Ovanti’s expanding ambitions now require a higher-profile, more experienced US CEO. The decision follows feedback from US brokers, institutional advisers and SPAC sponsors indicating the need for a CEO with stronger public-markets pedigree to credibly lead a NASDAQ-listed fintech targeting a US$300 million+ valuation.
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What investors should know about SPAC listings and fintech valuations
For ASX investors unfamiliar with the SPAC pathway, this represents an alternative route to a traditional IPO. A Special Purpose Acquisition Company (SPAC) is a publicly listed shell company that raises capital specifically to acquire or merge with a private company, effectively taking it public through the transaction rather than through a lengthy IPO process.
The strategic rationale for seeking US-experienced leadership becomes clearer when considering the valuation dynamics. NASDAQ-listed Buy Now Pay Later (BNPL) fintechs have historically commanded premium valuations compared to their ASX-listed peers. Major BNPL players such as Affirm and Klarna traded at multi-billion dollar valuations during their growth phases, reflecting deeper capital pools and higher sector multiples available in US markets.
A NASDAQ listing matters because it provides access to a substantially larger institutional investor base and sector-specialist funds that actively deploy capital into fintech and payments companies. For Ovanti (ASX: OVT), a successful SPAC transaction at US$300 million+ would represent a significant re-rating opportunity for current ASX shareholders, particularly given the company’s current market positioning.
New CEO criteria and global search process
Fayziev and Gambotto will co-lead the global search for a new US CEO, with a mandate to secure a leader who possesses the following capabilities:
- Deep fintech or payments experience
- US commercial scale-up capability
- SPAC/NASDAQ readiness and strong investor presence
- Leadership calibre required to compete with billion-dollar BNPL and payments peers
The Board’s decision to explicitly outline these criteria signals improved governance discipline and direct acknowledgement of investor feedback. The company has stated that it received consistent feedback from US brokers, institutional advisers and SPAC sponsors that Ovanti requires a CEO with stronger public-markets pedigree and deeper experience to credibly lead a NASDAQ-listed fintech.
Daler Fayziev, Chairman and Group CEO
“Ovanti is entering a phase that demands world-class leadership. Our ambitions for the U.S. market are significant, and it is essential that our CEO reflects the expectations of our shareholders, the scale of the opportunity, and the standards demanded by NASDAQ investors and SPAC partners.”
Gambotto’s appointment as Chair of the US Advisory Board preceded this leadership transition. His nearly 30-year track record, including founding and scaling The Missing Link before selling it to Infosys in a transaction widely reported at A$100–120 million, has raised the standard of organisational performance and commercial discipline within Ovanti.
The Board explicitly acknowledged that as Ovanti moves to compete with global BNPL and payments companies valued at US$1 billion+, leadership capability must reflect that competitive landscape. This represents a clear signal to investors that execution standards are being elevated to match the company’s stated ambitions.
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Flote’s US market positioning
Ovanti’s US BNPL platform, Flote, is positioned to address specific gaps in the alternative payments market. The platform’s competitive differentiation centres on several key features:
- Cash-flow-based affordability assessments
- Zero interest, zero fees and no revolving debt
- Advanced bank-linking and fraud-mitigation technology
- Strong appeal to US debit-majority consumers
This product positioning aligns with broader US consumer trends favouring debit-based payment methods and increasing resistance to revolving debt products. The US market has seen regulatory scrutiny increase around traditional credit products, while consumer preference has shifted towards transparent, fee-free payment options.
The zero-interest, zero-fee structure differentiates Flote from BNPL models that generate revenue through late fees or merchant service fees with embedded interest charges. By targeting cash-flow-based affordability rather than credit scoring, the platform is positioned to serve consumers who may be underserved by traditional credit products.
Next steps and shareholder timeline
The company has confirmed that the global CEO search is now underway. Ovanti remains committed to advancing its SPAC pathway and expects strengthened engagement from SPAC sponsors and US institutional partners as the company transitions to a leadership profile that aligns with its strategic ambitions.
The interim leadership structure provides experienced oversight during the transition period. With Fayziev holding Group CEO responsibilities and Gambotto providing operational and capital-markets guidance, the company has positioned itself to maintain momentum on merchant partnerships and BNPL roll-out activities.
No specific timeline has been provided for the permanent CEO appointment. Investors should watch for further updates on the recruitment process, as the announcement of a permanent US CEO with the target profile will serve as the near-term catalyst for assessing whether the leadership upgrade delivers the intended strategic benefits.
For investors in Ovanti (ASX: OVT), this Ovanti US CEO leadership change represents a governance signal. The Board has acknowledged shareholder expectations and committed to raising execution standards to match the company’s NASDAQ ambitions.
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