Iowa-based payments platform Moov, which provides fintech solutions for developers, announced Sunday that it was appointing Joel Tosi as Chief Technology Officer to oversee its overall product direction and development.
Tosi previously served as vice president of integration services at Fiserv, a global fintech payments company, and as CTO at BluePay. Moov CEO Wade Arnold says that Tosi was chosen due to his passion for software engineering as well as his 20 years of payment experience.
Moov is developing an open-source platform which enables developers to quickly deploy financial service tools. The company has raised $32.5 million so far, starting with a $5.5 million seed round led by Bain Capital Ventures, according to Crunchbase.
Tosi says that he has tried to make open source payment technology for years, and believes Moov is capable of making it a reality.
“Moov is democratizing payments for fintech by hitting the reset button for the entire industry”, Tosi wrote in a blog piece published on Moov Monday, adding “They’re building open source payment technology the right way.”
Moov’s platform offers developers a space to create fintech services for paying independent contractors, gig economy workers and insurance claim recipients. Moov also claims its API makes adding payment recipients and moving money easier for companies and developers, according to its website.
Moov also had a $27 million Series A round led by Angela Strange and Peter Levine of Andreesen Horowitz (a16z), that was announced December 2020. Moov said it planned to use that capital infusion to further expand its team, further develop its enterprise offerings, and double-down on “setting the standard for open collaboration on financial protocols,” according to previous reporting.
In other fintech executive news, we recently spoke with newly appointed Earnest CEO David Green about the student debt crisis, refi and strategy.