2Checkout, a global online payments provider, has appointed Shawn Budde as CEO. The hire caps a months-long executive search headed by former CEO Tom Dailey, who continues to serve on the board of directors and is an active investor in 2Checkout.
Budde has more than 25 years of experience in the finance industry including executive roles at Citibank and Capital One; data analytics experience at Sears Holdings; and as co-founder and president at ZestFinance, a VC-backed technology company. Budde earned a B.A. from Columbia University and an M.B.A. from the Wharton School at the University of Pennsylvania.
At ZestFinance, Budde teamed with Google’s former CIO to reinvent lending methods by using large-scale data analysis and machine learning to lower the cost of credit for the highest risk customers. At 2Checkout, Budde said he plans to apply similar approaches on a global scale to help the company accelerate its market expansion in online payments.
“Online payments has followed the meteoric rise of e-commerce and 2Checkout is one of the global leaders in this space. I look forward to helping lead the company in its next phase of hyper-growth,” said Budde. “Online payment companies like 2Checkout work on thin margins and high transaction volumes. The winners will be those that know how to optimize every dimension of their business from underwriting to transaction processing — ultimately driving the greatest value for the merchant.”
“On behalf of our investors and employees, I’m thrilled to have Shawn join 2Checkout and build on the success we’ve had to date,” said Tom Dailey.