LONDON & SEATTLE, January 18, 2023—(BUSINESS WIRE)–Convera, the largest non-bank fintech in global B2B payments, today announces a record year of revenue, the transition of its UK operations from Western Union to Convera and the appointment of Kevin R. Johnson as a board observer and investor. Johnson’s decades of leadership in scaling global organizations provide him with a unique perspective to advise Convera as it transforms into a modern, technology-driven, global B2B payments organization focused on innovation, value and exceptional customer service.
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Kevin Johnson, former Starbucks CEO, joins Convera as board observer (Photo: Business Wire)
Formed in 2021 as a spin-off from the former Western Union Business Solutions (WUBS), Convera leverages decades of industry expertise and technology-driven payment solutions to provide its customers with smarter money flow – helping them realize more value with every transaction. 2022 was a record year for Convera with double-digit growth and over $500 million in gross revenue.
With a clear path for global expansion, Convera closed the UK leg of its acquisition of WUBS in December, and the remaining business in Europe is expected to close entirely in early 2023, paving the way for Convera to operate globally as a leading payments provider for its more of 30,000 clients, ranging from small business owners and corporate treasurers to educational institutions, financial institutions, law firms and non-governmental organizations. Convera offers a diverse set of offerings from simple exchanges to sophisticated risk protection solutions.
As an investor in Conver and Board Observer, Mr. Johnson brings more than four decades of experience scaling global businesses in the technology and consumer industries. During his 16-year career at Microsoft, through a period of tremendous growth, Johnson served in a variety of executive roles and led Microsoft’s global sales and marketing before becoming president of the Platforms Division. After Microsoft, Johnson became CEO of Juniper Networks at a time when smartphones were widely adopted by consumers and the mobile Internet was undergoing a period of exponential growth and transformation.
Johnson recently retired from Starbucks after serving 13 years on the Starbucks board and as president and CEO since 2017. During that time, Starbucks has expanded its global store count to more than 34,000 stores, grown industry-leading digital experiences to nearly 45 million “Starbucks Rewards” to members in the US and China, and expanded Starbucks’ global reach through the Global Coffee Alliance with Nestlé. Johnson also served Presidents Bush and Obama as a member of the National Telecommunications Security Advisory Council.
“We are very excited to bring Kevin on board as an observer on the Conver board and look forward to benefiting from his many years of leadership at the highest levels of international business, as well as his deep expertise in leading global technology-focused companies,” said Patrick Gauthier, CEO director of Convera.
Bill McNichols, Managing Partner of Goldfinch Partners and Chairman of Convera’s Board of Directors added, “Having worked closely with Kevin for more than a decade during his time at Starbucks, I am thrilled to have him as an investor and board observer at Convera. Kevin is an outstanding leader who has successfully tackled numerous, complex challenges. We are equally excited to leverage Kevin’s experience in driving digital and technology change in the business. The Board and management team will benefit immensely from his advice and judgment.”
Convera is a global B2B payments company providing payment services and foreign exchange products to businesses of all sizes. With expertise in foreign exchange management and the movement of funds around the world, Convera offers access to more than 140 currencies and a financial network spanning more than 200 countries and territories. Providing payment technology solutions to over 30,000 users – from small business owners to corporate treasurers across a range of industries. Convera’s purpose is to make money flow so easy that every business in the world can grow with confidence.
Convera, previously part of Western Union and operating as Western Union Business Solutions (WUBS), now operates through local subsidiaries under the Convera name and brands. Convera expects to complete the final step of its acquisition of Western Union Business Solutions in early 2023.
For more information, visit: www.convera.com
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