Login
ISCOVER
The credit and payment platform provider has announced that Ross Horsburgh has been appointed to its newly created treasurer role.
Ross Horsburgh, the former head of debt capital management at Buy Now, Pay Later giant Afterpay, has joined SME lender Shift as its new treasurer.
To continue reading the rest of this article, please log in.
Looking for more benefits? Become a Premium Member.
Create free account to get unlimited news articles and more!
Looking for more benefits? Become a Premium Member.
In his new position, which he began at the end of January 2023, Mr Horsburgh is responsible for driving the treasury function for Shift. This includes monitoring asset performance against facility parameters and covenants, capital planning to support the company’s ongoing financial solutions growth as business scales, and managing warehouse and investor relationships.
In his previous role with Afterpay, he was in charge of the establishment of new warehouses in the US and UK as well as guiding new funding limits.
Prior to this, Mr Horsburgh had senior positions with SocietyOne and FlexiGroup.
Shift chief executive Jamie Osborn commented: “Ross has worked in high-growth organisations during times of immense change, so he joins Shift with a strong understanding of our operating environment, funding considerations and the needs of the businesses we serve.
“With Ross leading our Treasury function and working with Cameron Small and the leadership team, we now have set in place a fantastic team to guide us through 2023 and beyond.”
On his appointment, Mr Horsburgh stated: “Shift is redefining credit and payments for Australian businesses and there is no better time to be joining a team that is bringing finance on demand to an underserved segment of the market.
“I’ve followed the growth of Shift for some time now and admired the thoughtful yet dynamic approach the team takes to its expansion. I look forward to helping the company continue along the same trajectory.”
Completion of Series C funding round
Shift recently announced that it has closed a $27 million Series C funding round.
The funding round (led by Sequoia Capital Southeast Asia) followed a recent $140 million increase in Shift’s debt funding capacity after a period of strong growth for the company.
The funding is intended to be used to improve the company’s suite of credit and payment products to “deliver more value” to Shift’s network of merchants, customers, and broker partners.
Mr Osborn said at the time: “Shift’s strong performance over the past three years speaks to the opportunity in disrupting the highly underserved market of business credit and payments, which has lagged behind the wave of innovation in consumer finance.
“With this funding, we are well-positioned to scale our business and unlock growth for our partners and business customers.”
[RELATED: Shift closes $27m Series C equity raise]
JOIN THE DISCUSSION