September 27, 2021
Pushpay adds experienced growth executives Sumita Pandit and John M. Connolly to its Board of Directors
Auckland, New Zealand | Redmond, Washington; Colorado Springs, Colorado, US – 27 September 2021 (NZT)
Pushpay Holdings Limited (NZSX:PPH, ASX:PPH, ‘Pushpay’ or ‘the Company’), a leading technology platform building world-class giving and engagement solutions to help organisations grow their communities, is pleased to announce that Sumita Pandit and John M. Connolly have been appointed as Directors by the Pushpay Board effective today, 27 September 2021.
Sumita is Chief Operating Officer of local, a technology-first payments platform enabling global enterprise merchants to connect with consumers in emerging markets. Prior to dLocal, Sumita was Global Head of Fintech Investment Banking for J.P. Morgan.
John is a Senior Advisor to Sixth Street, a leading global investment firm and Pushpay’s largest shareholder. He has led or served on over 35 boards and over the course of his career held executive positions at Bain Capital Ventures, M|C Communications, Institutional Shareholder Services and IBM. John also founded Mainspring, Inc. (acquired by IBM) and Course Technology (acquired by Thomson Corporation).
Molly Matthews, CEO of Pushpay, said, “Our mission is to help organisations grow their communities and that has guided us to become the leading vertical software and payments platform in the faith sector. I am excited to tap into the new perspectives, knowledge and skill sets Sumita and John bring to Pushpay as we continue to execute our growth strategy by entering new markets and building differentiated world-class products and services for our Customers.”
Graham Shaw, Chairman of Pushpay’s Board of Directors, said, “We are delighted to welcome Sumita and John to the Pushpay Board. Sumita has been central to the growth of fintech businesses throughout her career and John brings a 30-year track record of innovation, vision and execution in creating successful growth companies. These appointments show the pro-growth, collaborative approach we have enjoyed with Sixth Street since their joining as our cornerstone investor last March. We are thrilled to have appointed such experienced and energetic individuals who will further strengthen our Board’s breadth of talent and background.”
Sumita Pandit said, “I look forward to working with Molly, my fellow Board members and the rest of the team as Pushpay continues to expand its product set, deepen its customer relationships and solidify its position as the leader in non-profit payments integration.”
John Connolly said, “Molly and her team have done an incredible job strengthening Pushpay’s position as the leading platform serving donor communities in the US. I look forward to contributing my experience as well as Sixth Street’s knowledge and insights across its technology portfolio to help Pushpay pursue its next phase of growth.”
About Pushpay’s collaboration with Sixth Street
In March 2021, Sixth Street became Pushpay’s largest shareholder and began engaging with the Company on operational initiatives with a primary focus on accelerating growth and product innovation. Sixth Street leverages its experience, resources and global perspectives to help accelerate growth at the companies in which it invests.
Michael McGinn, Partner at Sixth Street, said, “Pushpay’s customers recognise the value of its integrated payments platform and entire ecosystem approach, and we see significant opportunities for expansion beyond its current industry-leading position. Sumita and John will further strengthen the Board’s presence in Pushpay’s core US market, and provide support and guidance as it seeks to execute on those opportunities and accelerate growth. We look forward to collaborating with Molly, the senior leadership team and the Board to help realise Pushpay’s full potential.”
Sixth Street uses its flexible, long-term capital, data-enabled capabilities and one cross-platform team approach to develop themes, and offer solutions to companies across all stages of growth. Founded in 2009, the firm manages over US$50 billion in assets and has more than 320 team members across nine global offices. Select current and past representative Sixth Street investments include Airbnb, AirTrunk, AvidXchange, Gainsight, Kyriba, MDLIVE, Passport, Paycor, PaySimple, Spotify, Sprinklr and SumUp.
Further background on Sumita Pandit and John M. Connolly
Sumita Pandit | Independent Director
Sumita is the Chief Operating Officer of dLocal, a technology-first payments platform enabling global enterprise merchants to connect with billions of consumers in emerging markets. Prior to joining dLocal, Sumita was a Managing Director and Global Head of Fintech Investment Banking for J.P. Morgan. Sumita brings nearly two decades of experience in investment banking, advising companies across verticals in fintech including payments, financial software, neo-banks and insurtech. Previously, she worked at Goldman Sachs. Sumita received her MBA from The Wharton School at the University of Pennsylvania. Sumita lives with her family in Los Altos, California, US.
John M. Connolly | Non-executive Director
John is a Senior Advisor to Sixth Street providing guidance to portfolio company CEOs and management teams on strategic and operational issues associated with growth. John has served as chairman, non-executive chairman or director on over 35 boards, including A Cloud Guru, Paycor and Regulatory DataCorp (RDC) where he served alongside Michael McGinn, Co-Head of Sixth Street’s Growth business. John was previously a Managing Director at Bain Capital Ventures, Chairman and CEO of M|C Communications, Chairman of Edgar Online, Chairman of the Princeton Review, President and CEO of Institutional Shareholder Services (ISS), and held several senior positions at IBM, including leading the integration to create the IBM Business Consulting Group. John also founded two companies, Mainspring, Inc. (acquired by IBM) and Course Technology (acquired by Thomson Corporation). John lives with his family in Manchester, Massachusetts, US.
Sumita, as an Independent Director and John, as a Non-executive Director affiliated with Sixth Street, will each hold office until Pushpay’s next Annual Meeting, at which point they will stand for election by shareholders.
Pushpay provides a donor management system, including donor tools, finance tools and a custom community app, a church management system (ChMS), and live video streaming solutions to the faith sector, non-profit organisations and education providers located predominantly in the United States (US) and other jurisdictions. Our leading solutions simplify engagement, payments and administration, enabling our Customers to increase participation and build stronger relationships with their communities.
Church Community Builder and Resi Media LLC (Resi) are subsidiaries of Pushpay Holdings Limited. Church Community Builder provides a Software as a Service (SaaS) church management system that churches use to connect and communicate with their community members, record member service history, track online giving and perform a range of administrative functions. Resi is a high growth SaaS company that provides end-to-end live video streaming solutions enabled by hardware products predominantly to the faith sector, whilst also servicing commercial, nonprofit organisations and education providers in the US.
Pushpay is an award-winning company. For more information visit www.pushpay.com/investors/awards.
- Gabrielle Wilson | Investor Relations | Pushpay Holdings Limited
- +64 21 724 244
This announcement is authorised by Graham Shaw (Chairman) and Molly Matthews (Chief Executive Officer) of Pushpay Holdings Limited.