One Inc Names Michael Ellis as Chief Financial Officer

Rhea-AI Summary

One Inc, a leading digital payments network for the insurance industry, has appointed Michael Ellis as its new Chief Financial Officer, effective August 5, 2024. Ellis brings over 30 years of experience in scaling payment technology companies, including his role as CFO at Flywire (NASDAQ: FLYW), where he led the company through its 2021 IPO. In his new position, Ellis will oversee One Inc's financial activities and collaborate with CEO Ian Drysdale to guide the company's future direction.

The appointment comes as One Inc aims to expand its digital payments platform, foster product innovation, and create new opportunities for modern insurers. The company currently handles annual payments of USD 81 billion, serves over 245 insurance industry customers, and has a network of over 760,000 vendors.

Positive

• Appointment of experienced CFO Michael Ellis with a strong background in payment technology companies
• Company handles annual payments of USD 81 billion
• Serves over 245 insurance industry customers
• Has a large network of over 760,000 vendors
• Recent investment from Nordic Capital joining Great Hill Partners

Negative

• None.

-Industry Veteran Strengthens Leadership Team to Drive Growth & Scale

FOLSOM, Calif.--(BUSINESS WIRE)-- One Inc, the leading digital payments network for the insurance industry, today announced the appointment of Michael Ellis as the company’s new Chief Financial Officer (CFO), effective August 5, 2024. As CFO, Ellis will be responsible for overseeing the company’s financial activities and will help guide One Inc’s future direction in collaboration with Chief Executive Officer Ian Drysdale, to whom he will report.

Michael Ellis (Photo: Business Wire)

Ellis joins One Inc with over 30 years of experience and a record of success in scaling payment technology companies. Ellis served as CFO at Flywire (NASDAQ: FLYW), a global payment solutions provider. He led them through their 2021 IPO, and was responsible for the company’s financial, investor relations, FP&A, treasury and tax teams. Ellis also was CFO & Advisor to BillGO, a bill pay platform and network for the world’s largest banks and Fintech companies.

Earlier in his career, he served as the CFO at CashStar, a provider of digital gifting solutions for retailers, the CFO of Eze Castle Software, and has held a variety of leadership positions including Controller at the Massachusetts Port Authority, VP Finance at Flagship Ventures and Director, Transaction Services at PwC LLC.

“Michael’s proven track record, strong business leadership, and history of delivering results will be invaluable as we continue to innovate and drive growth in the rapidly evolving digital payments infrastructure landscape,” said Ian Drysdale, CEO of One Inc. “I look forward to working closely with Mike and the One Inc leadership team in support of our goals to extend our category leadership and deliver on our vision of enabling insurers to deliver a best-in-class digital payment experience for their customers.”

The announcement comes as the Folsom-based company looks to expand its digital payments platform, foster product innovation, and create new opportunities to offer solutions that enhance efficiency and increase revenue for modern insurers. Earlier this year, Nordic Capital announced it joined Great Hill Partners as an investor in One Inc.

"I am thrilled to be joining One Inc, a company known for its best-in-class reputation for innovation in the digital payments space,” said Michael Ellis, CFO at One Inc. “The insurance industry is challenged by a landscape shaped by digital transformation and economic shifts which demands constant reinvention and optimization. I look forward to collaborating with the talented team at One Inc to scale the business, drive our financial strategy and deliver exceptional value to our stakeholders and clients, supporting our continued growth and leadership in the market."

One Inc has 750 resources, handles annual payments of USD 81 billion, and has one of the largest networks in the industry with over 760,000 vendors. One Inc proudly serves over 245 customers in the insurance industry, including Amica Insurance, MAPFRE, SageSure, Tower Hill Insurance, Wawanesa Insurance, and others.

About One Inc

One Inc is modernizing the insurance industry through a unified and frictionless payment network. Focusing only on the insurance industry, One Inc helps carriers transform their operations by reducing costs, increasing security, and optimizing customer experience. The comprehensive end-to-end digital payments platform provides expanded payment options, multi-channel digital communications and rapid digital claim payments, even for the most complex insurance use cases. As one of the fastest growing digital payments platforms in the insurance industry, One Inc manages billions of dollars per year in premiums and claim payments.

For more information, please visit www.oneinc.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240806903108/en/

Media:

Will Link

Stanton Public Relations & Marketing

OneInc@stantonprm.com

(646) 502-3570

Source: One Inc

FAQ

Who is the new CFO of One Inc and when does he start?

Michael Ellis is the new CFO of One Inc, starting his role on August 5, 2024.

What is Michael Ellis's background before joining One Inc?

Michael Ellis has over 30 years of experience in scaling payment technology companies, including serving as CFO at Flywire (NASDAQ: FLYW) where he led the company through its 2021 IPO.

How much in annual payments does One Inc handle?

One Inc handles annual payments of USD 81 billion.

How many customers does One Inc serve in the insurance industry?

One Inc serves over 245 customers in the insurance industry.