Rauva, the Portuguese fintech, has a new CEO as it moves into its next growth phase. Jon Fath, co-founder and former CEO, steps down, and Nuno Zigue, ex-CEO of Santander Consumer Finance Portugal, takes the helm. The leadership change reflects the company’s need for seasoned banking expertise while awaiting regulatory approval to acquire Banco Empresas Montepio.
Since 2023, Rauva has been in the process of purchasing the bank’s license in a €35 million deal. The acquisition remains under review by the Bank of Portugal, with Rauva emphasizing confidentiality and adherence to legal procedures. The company sees Zigue’s experience as crucial to guide Rauva through this transition from fintech startup to fully licensed banking institution.
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