Pay By Touch appoints Gus Spanos EVP, business development
28 November 2005 | 1591 views | 0
Source: Pay By Touch
Pay By Touch, the global leader of biometric authentication, payment, loyalty and membership solutions, today announced the appointment of Gus Spanos as executive vice president of business development.
Spanos led the company's recent fundraising effort that secured more than $130 million in new financing.
Spanos has served as an active advisor to Pay By Touch for the past several years and accepted the role as interim CFO last December to lead the company's fundraising efforts. Under his leadership, Pay By Touch recently raised $75 million in senior secure notes and an additional $55 million in convertible promissory notes. That fundraising was an innovative blurring of the lines of traditional growth financing, providing low cost capital to the company from hedge funds in what would normally be structured as a dilutive, venture-led equity investment. In his role as executive vice president of business development, Spanos will lead corporate development activities and will continue his fundraising efforts.
"Gus has truly proven himself to be a rainmaker," said John Rogers, founder, chairman and CEO of Pay By Touch. "Gus' business savvy and unmatched relationships within the investment community make him the ideal person to lead our development and fundraising efforts, especially as we charge towards an IPO."
Spanos brings to Pay By Touch a wealth of experience in finance and operations. Prior to joining Pay By Touch, he was a partner at JH Partners (formerly Jesse.Hansen & Co.), where he helped raise the firm's inaugural institutional private equity fund that consisted of the nation’s top five university endowments. Spanos continues to be an investor in JH Partners.
In addition to his eight years in private equity, Spanos began his career at Goldman, Sachs & Co. and later spent seven years as an operating executive at several private equity sponsored companies.
"As an early investor in Pay By Touch, I saw immediately the company's growth and expansion opportunities," Spanos said. "I am pleased to be an integral part of Pay By Touch's leadership team, and to be associated with a company that is making such a significant impact by changing the way the world pays."
Spanos earned his MBA degree from The Stanford Graduate School of Business and his AB degree from Harvard College.