Fast-growing Beaverton Company Enlists Portland Vet as CFO

December 12, 2017

Business-to-business electronic payments company Nvoicepay has hired a well-known finance exec as its first chief financial officer.

John Ewert, most recently CFO and chief operating officer at AWS Elemental, joined the fast growing Beaverton payments company. Ewert was part of the executive team that sold Portland’s Elemental Technologies to Seattle-based Amazon. The company became part of Amazon Web Services and rebranded as AWS Elemental.

Ewert quietly left AWS Elemental in October. He started at Nvoicepay in November.

Nvoicepay co-founder and CEO Karla Friede said the time was right for the company to add the CFO position. It had searched for someone to fill it for a year.

“We really wanted to find the right person and the right fit. John is perfect, both his experience, but beyond experience he is just such a pleasure to work with,” said Friede.

The eight-year-old Nvoicepay's business has soared over the last several years. It employs roughly 130 workers, the majority of them at its Beaverton headquarters. The company doubled in size in 2016 and expects 90 percent year-over-year growth this year. Friede expects the intense growth to continue in 2018.

While electronic payments has become mainstream within consumer markets, the vast majority of businesses still use paper payments, creating a strong base to grow even more.

Nvoicepay makes software used by businesses to digitize accounts payable, meaning customers can electronically pay suppliers. More than 2,750 customers use Nvoicepay, with billions in payments running through its software each day.

“Nvoicepay’s team of payments experts are on the forefront of financial technology transforming the traditional accounts payable function into a simple, secure and automated process for businesses," Ewert said in a written statement.

Along with Elemental, he's worked for Palo Alto Networks—which he helped during an initial public offering—as well as Oracle Corp., Sun Microsystems Inc. and PricewaterhouseCoopers LLP. Ewert, a 2016 Portland Business Journal CFO of the Year, is treasurer for the executive committee for United Way of the Columbia-Willamette.

Despite Ewert's experience with both an IPO and acquisitions, Friede said he was not hired with a specific business pathway in mind. That is, it's too early for the company to define its exit strategy.

“I know it’s an unsatisfying answer and a lot of people ask me that question,” she said. “You have your head down and build the best company you can and good things happen. We are building a company that we all want to work at.”

 

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