Bento for Business (“Bento”), the California based leading B2B payment solutions and expense management service provider for small and mid-sized businesses has revealed the appointment of Mr. Guido Schulz as its new chief executive officer in its latest announcement. In his new role as Chief Executive Officer of the firm, Mr. Schulz, will work alongside Mr. Farhan Ahmad Co-Founder and Chairman of Bento to lead the company in its next phase of growth as it continues to cater to a constantly growing list of client base while also seeking to regain control of monthly expenses and improve cash flow at a critical juncture. Mr. Ahmad who had held the role of CEO since the firm was founded will now continue to retain his other role as Chairman of the firm’s Board of Directors while also actively engaging in day-day activities focusing on product innovation, operations and platform strategy. The incoming executive is a veteran in financial services industry with nearly two decades of experience and has extensive experience scaling technology and payment services provider. Before taking up his current role at Bento for Business, he served as Chief Commercial & Strategy Officer for Merchant Link – a cloud based payment solutions and data security services provider for short period of eight months. Prior to that, he served as an independent management consultant short brief period of one year. Earlier in his career, he served as the Chief Commercial Officer for Bluefin Payment Systems for two and a half years during which he built the firm’s technology-driven payments security division which showed exponential growth during his term.
Before that he spent more than 6 years at AFEX during which he held the roles of Senior and Executive Vice President and led the company’s strategic business planning, development, and marketing operations for their payment platforms and products, helping it attain status of one of the largest non – bank FX providers in the world. Today, thousands of businesses trust Bento to help manage their monthly expenses eliminate cash leakage; prevent misuse while improving their monthly cash flow. The firm has a unique customizable suite of spending and expense management tool with help of which its clients such as business owners and financial controllers can set their daily, weekly, and monthly spending limits and parameters for where Bento’s physical and virtual cards can and cannot be used. According to statement released by the firm, its clients have saved more than $85 million using the company’s controls. The firm has managed to constantly grow ever since it was established back in 2013 and over the course of last seven years, it has managed to display an average growth rate of nearly 200% till date. The firm recently made headlines for launch of its B2B payment solutions Bento Pay which eliminates requirement for paper checks which is currently the norm for small and mid-sized firms. The firm has managed to achieve this by introducing new credit line for qualified customers and given its customer centric platform which primarily focuses needs of America based small size firms, it is expected to introduce more innovative product updates driven by sharp insight and feedback from its clients allowing it to continue growing further both in 2020 and beyond.
Commenting on his new role at the firm, Mr. Schulz said “Bento for Business has built an incredibly intuitive product that directly addresses the core cash flow and operational problems faced by the businesses that drive much of our economy, create jobs, and help build our communities. Now more than ever, expense reduction is the single largest area of opportunity for our customers. I look forward to working closely with our team and customers alike to help businesses improve monthly cash flow as they navigate uncertain times”.
Speaking about Guido’s addition to the team, Mr. Ahmad – Co-Founder & Chairman of the firm said “We started Bento for Business five years ago knowing that there was an opportunity to provide meaningful solutions to help the growing independent businesses that form the economic backbone of so many communities across the country, grow and prosper. As we’ve reached a new phase of growth ourselves, bringing on Guido is an important step for delivering the same exceptional experience to businesses as Bento’s footprint continues to expand. Guido has an impressive track record scaling companies, and I’m excited to build on our founding vision together: to deliver a healthy bottom line for businesses through unprecedented visibility and control over monthly expenses”.