On the heels of news of its acquisition by EQT Private Equity, Billtrust announced that Sunil Rajasekar was appointed CEO. Rajasekar succeeds Flint Lane, the company’s founder, who will remain on the board of directors.
Rajasekar is a highly experienced technology executive and comes to Billtrust with an impressive history of driving innovation and growth in his career. He has a successful track record across leading business-to-business and financial services companies, most recently serving as president of Mindbody, a leading experience technology platform for the fitness, wellness and beauty industries. Previously, Rajasekar served as general manager at e-commerce giant eBay. He has also served as chief technology officer for Lithium Technologies and as vice president at Intuit. Rajasekar serves on the board of Duck Creek Technologies and Storable.
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“I am honored to serve as the CEO of Billtrust, and it is clear to me that Billtrust is a special company with a great culture that solves a real business need for customers by removing the challenges around their order-to-cash processes,” Rajasekar said. “This has always been a very important business function, but even more so in today’s macro environment, where managing a company’s cash flow and customer satisfaction is critical. I’m eager to collaborate with Flint as a director on our board, EQT as our new equity partner, our customers, partners and the incredible Billtrust team to drive our collective success.”
“Today marks the beginning of the next chapter for Billtrust, and I’m excited to see Sunil, a strong business leader with a robust technology background, take the reins to lead the company through its next stage of growth and maturation,” Lane said. “While there are many to acknowledge for our success, I’d like to thank our customers, partners, investors and, most importantly, the Billtrust team. I am immensely grateful for the opportunity to have led the remarkable Billtrust team for the past 21 years, and I look forward to working closely with Sunil and the management team as a member of our board of directors.”
