Fintech
Navan, a $9.2 Billion Fintech Company, Names Former NYSE Executive CFO Ahead of Planned IPO
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Navan has hired a former New York Stock Exchange executive as its new chief financial officer, ahead of the travel and expense management platform’s planned $9.2 billion IPO.
Amy Butte, who served as CFO of the NYSE between 2004 and 2006, will join Navan as its new CFO in June. She previously was appointed chair of the audit committee on the company’s board of directors in April.
Butte’s previous roles included positions as banker, research analyst, board director and CFO.
Founded by entrepreneur Ariel Cohen, Navan is a platform that helps employees of large and small companies manage their expenses and travel bookings. It competes with the likes of SAP Concur, American Express, TravelPerk, Brex and Ramp.
Butte’s appointment comes at a crucial time for Navan. The company is finalizing its financial framework for what is likely to be a successful initial public offering at an as yet unspecified time. Last month, Cohen, Navan’s CEO, told CNBC that the company is “not far away” from an IPO, adding that the company expects to reach profitability this year.
Navan was named a CNBC Disruptor 50 company in May.