News

Ascendant Announces Leadership Transition: Shemina Jiwani Appointed as CEO

Viola Kwok — Wed, 08 Jan 2025 14:00:00 GMT

TORONTO, Jan. 08, 2025 (GLOBE NEWSWIRE) -- Ascendant, a leading provider of international payment solutions, has announced a change in its senior leadership. Shemina Jiwani has been appointed as Chief Executive Officer (CEO), effective immediately. In her new role, Shemina will oversee all strategic initiatives and operations, steering Ascendant into its next phase of innovation led growth.

Shemina’s promotion to CEO reflects her outstanding service and leadership within Ascendant, having served as Chief Operating Officer (COO) for the past six years. With a deep understanding of global financial markets, digital transformation, and the company’s operations, Shemina is uniquely positioned to drive Ascendant’s strategic objectives and strengthen its commitment to delivering exceptional value to customers and stakeholders.

“I am honored to step into this role and grateful for the trust placed in me by the Board,” said Shemina Jiwani. “Ascendant has an incredible team and a strong foundation. Together, we will focus on driving customer and stakeholder satisfaction through value delivery.”

The Ascendant Board of Directors expressed full confidence in Jiwani’s ability to lead the company to new heights. “We are excited to have Shemina Jiwani as our new CEO,” said Russell Fleischer, Chairman of Ascendant’s Board of Directors. “Shemina’s wealth of experience, combined with her passion for innovation and client-centric approach, makes her the ideal leader to help Ascendant achieve unprecedented success.”

As Ascendant navigates the rapidly evolving financial landscape, Shemina will work closely with the leadership team to enhance operational excellence, customer satisfaction, and market expansion. Her vision and expertise will play a pivotal role in positioning Ascendant as a forward-thinking leader in the global financial sector.

About Ascendant
Ascendant is a leading global payments provider, specializing in B2B, B2C, and financial institution cross-border payments. Headquartered in Toronto, Canada, with offices in the U.S., U.K., and India, Ascendant simplifies end-to-end payment processes, offering transparency and currency risk management through a 360-degree approach.

Ascendant Announces New State-of-the-Art International Payments Tracker

Viola Kwok — Thu, 16 Nov 2023 16:15:00 GMT

TORONTO, Nov. 16, 2023 (GLOBE NEWSWIRE) -- Ascendant, the leading provider of cross-border payments for the corporate and financial institution markets, today announced the release of a state-of-the-art international payment tracker. This technology allows customers and payees to track all payments in real-time.

Similar to tracking a package, Track 360® delivers full visibility into payment status, associated fees, and location of all payment types. This innovative solution also allows payment recipients direct access to securely view the status of their payment online with real-time information. By automating the vendor payment communication process, Track 360® forges new ground in payment transparency and vendor management.

Track 360® employs bank integrations and SWIFT GPI to create a user-friendly system for continuous payment tracking. It offers an intuitive experience and email notifications making payment tracking easy. Track 360® was created with several goals in mind: reduce inquiries, provide transparent information, and improve relationships with customers and vendors.

Ascendant COO Shemina Jiwani stated, “This latest release is in line with Ascendant’s desire to bring 360-degree transparency to its users by providing insight into important payment data. This self-serve feature gives users full access to the same information available in Ascendant’s back office.”

About Ascendant
Ascendant is a leading global payments provider, focused on the B2B, B2C, and Financial Institution cross-border payments space. Ascendant is headquartered in Toronto Canada, with offices in the US, UK, and India. Ascendant’s 360-degree approach simplifies end to end payment processes, transparency, and currency risk management.

Ascendant Announces New Strategic Business Investment from Battery Ventures

Viola Kwok — Thu, 19 Jan 2023 13:00:00 GMT

TORONTO, Jan. 19, 2023 (GLOBE NEWSWIRE) -- Ascendant, an international provider of cross-border business payment solutions and a financial technology company, today announced that Battery Ventures, a global, technology-focused investment firm, has agreed to make a significant investment in the company. Once closed, the new investment will make Battery Ventures the primary investor and enable Ascendant to enter its next phase of growth; it will also accelerate a product innovation plan designed to deliver more value to customers around the world.

“This announcement signifies a tremendous milestone for Ascendant as we continue to grow, innovate and achieve our vision as a global leader in international payments,” said Jason Mugford, Chief Executive Officer at Ascendant. “Our partnership with Battery Ventures, one of the most high-profile investment firms in the industry with an extensive software and FinTech portfolio, will draw upon their capital and expertise to accelerate our ambitious growth plans and make the international payment process more efficient.”

For over 10 years, Ascendant has served the fintech industry with simple and cost-effective payment technology solutions to drive operational efficiency and resilience for businesses. With its proprietary platform, software, and API capabilities, Ascendant’s customized payment solutions currently support more than 2,000 financial institutions and corporate business verticals. This new strategic investment now paves the way for Ascendant to reach the next stage of scaling its business; expanding its network; and accelerating growth.

“We’re excited about building our portfolio with an innovative company like Ascendant and believe there is an incredible opportunity to grow the company and expand into new markets,” said Russ Fleischer, General Partner at Battery Ventures. “Ascendant is a trusted business partner with a proven business model, professional leadership team and state-of-the-art technology solutions. We are proud to invest in a company with a strong vision to serve, simplify and transform the international payment landscape through its full suite of financial solutions.”

According to consulting firm Skyquest Technology, the global digital-payment market was valued at $89.6 billion in 2021 and is expected to reach $228.4 billion by 2028. The promising market pushes industry players like Ascendant to be at the forefront of innovation to leverage the power of digital technology.

As part of the investment, Battery Ventures will provide strategic guidance along with an extensive network of high-growth companies that can help support and advise the development of foreign exchange and international payments. Raymond James Ltd. acted as exclusive financial advisor to AscendantFX Capital Inc. and McCarthy Tétrault LLP acted as legal counsel. Ascendant and Battery expect the agreement to close in the first half of 2023, subject to regulatory approval.

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About Ascendant
Ascendant is a financial technology services company that provides cross-border payment solutions to businesses around the world. With over 250 years of combined industry experience, its leadership team are experts in the areas of corporate foreign exchange, international payments, and FX strategy and risk management. The company was founded in 2011 on the principles of delivering value beyond price with customer driven innovation; and its tailor-made solutions continue to help clients build business resilience. Today, its award-winning international payment solutions integrate with all major accounting software platforms and offer a 360-degree approach that is innovative, customer-focused and simplifies the end-to-end business payment process. Ascendant is headquartered in Toronto, ON, Canada, with offices in Victoria, BC; San Francisco, CA; and London, UK.

About Battery Ventures
Battery partners with exceptional founders and management teams developing category-defining businesses in markets including software and services, enterprise infrastructure, online marketplaces, healthcare IT and industrial technology. Founded in 1983, the firm backs companies at all stages, ranging from seed and early to growth and buyout, and covers technology markets from six strategic locations including Boston; San Francisco and Menlo Park, Calif.; Tel Aviv; London; and New York. Follow the firm on Twitter @BatteryVentures, visit our website at www.battery.com and find a full list of Battery's portfolio companies here.