Pushpay hires former Xero executive James Maiocco

Pushpay [NZX: PAY] has hired former Xero [NZX: XRO] executive James Maiocco as its chief business development officer.

Maiocco, who starts tomorrow, will be based in Pushpay's US office in Washington, the company said in a statement. He worked at Xero as general manager of business and corporate development for around two years.

"James brings an excellent track record of managing go-to-market strategy, international distribution channels and product development," chief executive Chris Heaslip said. "Pushpay's success is largely a testament to the amazing people that work at Pushpay. Attracting world-class talent such as James further strengthens our leadership as we work towards reaching our US$72 million annualised committed monthly revenue (ACMR) target prior to the end of December 2017."

Pushpay provides mobile commerce tools that help make payments easier between consumers and merchants and is geared to mobile charitable giving. It's gained traction in the US faith sector, where its services are used by more than 1 percent of the estimated 314,000 churches with an average 500 attendees each. It has turned its focus to larger merchants, who have the resources to implement its service more widely, and now has four of the 10 largest churches in the US using its service.

The company brought forward its ACMR target earlier this month, having originally forecast $100 million in revenue (which it says is equivalent to US$72 million) by August 2018.

Pushpay shares last traded at $2.57, and have gained 46.9 percent this year, making it the tenth-best performing stock on the NZX All Index.

(BusinessDesk)

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