LONDON AND SEATTLE, January 18, 2023–(BUSINESS WIRE)–Convera, the largest non-bank fintech company in global B2B payments, today announces record annual revenue, the transition of the UK business from Western Union to Convera and the appointment of Kevin R. Johnson Board Observer and Investor. Johnson’s decades of leadership in global organizations gives him a unique opportunity to advise Convera as it evolves into a modern, technology-driven, global B2B payments organization focused on innovation, value and exceptional customer service.
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Kevin Johnson, former CEO of Starbucks, joins Convera as Board Observer (Photo: Business Wire)
Established in 2021 as a subsidiary of Western Union Business Solutions (WUBS), Convera leverages years of industry experience and payment technology solutions to provide smarter cash flow for its customers, helping them get more out of every transaction. 2022 was a record year for Convera with double-digit growth and over $500 million in gross revenue.
With a clear path to global expansion, Convera completed the UK leg of the WUBS acquisition in December, with the remaining business in Europe expected to close entirely in early 2023, paving the way for Convera to operate globally as a leading payment provider for its customers. over 30,000 clients, from small business owners and enterprise treasurers to educational institutions, financial institutions, law firms and NGOs. Convera provides a wide range of offerings from simple currency exchange to sophisticated hedging solutions.
As an investor in Convera and the Board Observer, Mr. Johnson has over forty years of experience in scaling global technology and consumer goods businesses. During his 16-year career at Microsoft, during a period of rapid growth, Johnson held various senior positions and led Microsoft’s global sales and marketing before becoming president of the Platforms Division. Following Microsoft, Johnson became CEO of Juniper Networks at a time when consumers were actively using smartphones and the mobile Internet was undergoing exponential growth and transformation.
Johnson recently stepped down from Starbucks after serving on the Starbucks board of directors for 13 years and having been president and chief executive officer since 2017. During this period, Starbucks has grown to over 34,000 stores worldwide, and the number of industry-leading digital services has reached nearly 45 million Starbucks Rewards. members in the US and China, and expanded Starbucks’ global reach through the Global Coffee Alliance with Nestlé. Johnson also served Presidents Bush and Obama as a member of the National Security Telecommunications Advisory Board.
“We are thrilled to have Kevin as an Observer to the Convera Board and look forward to capitalizing on his many years of leadership at the highest levels of international business, as well as his deep experience in leading technology-driven global companies,” said Patrick. . Gauthier, CEO of Convera.
Bill McNichols, Managing Partner of Goldfinch Partners and Chairman of the Board of Directors of Convera, added: “I have worked closely with Kevin for over a decade during his time at Starbucks and I am delighted that he has become an investor and board observer at Convera. Kevin is an outstanding leader who has successfully completed numerous challenging tasks. We are equally excited to benefit from Kevin’s experience in driving digital and technological change in business. The board of directors and management will greatly benefit from his advice and judgment.”
About Conver
Convera is a global B2B payment company providing payment services and foreign exchange products to businesses of all sizes. With experience managing foreign exchange and moving funds around the world, Convera offers access to over 140 currencies and a financial network spanning over 200 countries and territories. Providing high-tech payment solutions to more than 30,000 clients ranging from small business owners to corporate treasurers in various industries. Convera’s goal is to make moving money so easy that any company in the world can grow with confidence.
Convera, which was previously part of Western Union and operated as Western Union Business Solutions (WUBS), now operates through local affiliates under the Convera name and brands. Convera expects to complete the final phase of the acquisition of Western Union Business Solutions in early 2023.