Traxpay, leader in B2B Dynamic Payments, announced the appointment of Jochen Siegert as Chief Operating Officer. With an impressive pedigree in the payments industry, Siegert has held senior executive management positions at FinTech giants PayPal and MasterCard. Reporting directly to the company’s CEO, his deep understanding of the financial technology sector will be a key advantage to accelerating Traxpay’s global expansion from an operations standpoint.
Jochen Siegert joins Traxpay from the Berlin-based FinTech seed investment firm, FinLeap, where he was Partner and CEO of two early stage companies, and remains a member of the advisory board. Prior to FinLeap, he was Managing Director of monetization for online games pioneer Bigpoint, working with 350 million customers and 200 payment partners around the globe. From 2008 through 2012 Siegert helped establish online payments giant PayPal in Europe as one of the first employees of their EU headquarters in Luxembourg, serving most recently as EMEA Director Strategy and Corporate Development. Prior to joining PayPal, he led the product and partner management team of KarstadtQuelle Bank, at the time the largest MasterCard issuer in Germany. He joined the bank directly from MasterCard where he held various senior product and business development positions at MasterCard Germany and later MasterCard Europe.
“After all of the innovation and attention surrounding the B2C space in recent years, the payment industry is now anxiously awaiting a revolution in the B2B sector so that enterprises can profit from the same kind of flexibility, transparency and speed that consumers have come to expect,” said Jochen Siegert. “Traxpay, with its B2B Dynamic Payments platform, is uniquely positioned to transform the way business pay and get paid, and I am thrilled to be joining the company and the management team at such a pivotal point in time, to helping accelerate global expansion.”
“There are very few experts in the financial technology sector that have the breadth and depth of experience that Jochen Siegert brings,” commented Traxpay’s CEO John Bruggeman. “We share a common vision for where the industry is going, and what the market is expecting in terms of innovation for companies transacting on a global scale. I am confident that as COO, Mr. Siegert and his team will play a key role in our growth and international expansion.”
Traxpay, a pioneer in B2B Dynamic Payments uniquely connects banking, transaction data, and B2B commerce together to provide the utmost in visibility and control for B2B buyers and suppliers. The modular, SAP-certified, cloud-based solution provides and enables secure and flexible payments, and value-added financial services that can adapt in real-time to the ever-changing parameters and complexities that define B2B trade. Unlike legacy static payment services which are disconnected from the rest of the process, Traxpay embeds Dynamic Payments directly into existing business networks and processes (P2P, O2C, ERP, etc.) and connects and monitors all associated transaction data along with the payment itself. As B2B transactions regularly require payments to be split, combined, rerouted, canceled, partially refunded, factored, financed, put into escrow, executed on condition, paid on delivery, discounted, or in some other way dynamically altered during the course of the transaction, Traxpay provides full track-and-trace capabilities and ensures all parties and systems are synchronized. Traxpay’s event-driven workflow constantly monitors for changing terms, then executes and settles the payment accordingly, completing the last mile of the transaction, and enabling faster, safer, and smarter B2B trade.
Traxpay’s mission is to revolutionize business commerce by transforming the way that companies pay and get paid. The company has received numerous industry awards, is privately held, and is headquartered in Frankfurt, Germany with operations in Mountain View, California. For more information, visit Traxpay.