Payments industry veteran with extensive experience in mergers & acquisitions will lead the Sphere financial team.
Nashville, TN, May 24, 2018 —Sphere, the leading provider of end-to-end integrated payments and security software, is pleased to announce the promotion of Steven Neel to Chief Financial Officer. As CFO, Neel will oversee all financial aspects of the company, including planning and analysis, accounting and reporting, credit facility management, and all financial strategy.
Neel is the former Executive Vice President of Finance of Anovia Payments (Anovia), which was recently acquired by Sphere. At Anovia, Neel was responsible for accounting, tax and financial planning, and corporate development. He played a fundamental role in growing Anovia 196 percent in three years.
“Neel was a clear choice for CFO and we are excited to have him lead financial strategy for Sphere as the parent company to Anovia and TrustCommerce,” said Andrew Rueff, Executive Chairman of Sphere. “His extensive experience as part of the Anovia senior leadership team will be instrumental as we grow Sphere and continue to provide leading edge integrated payment technology solutions.”
Neel previously served as AVP Mergers & Acquisitions for Dallas-based transaction processing company, TransFirst Holdings, Inc., where he played a key role in the structuring and financing of numerous acquisitions and joint ventures. Before joining TransFirst, he spent 8 years structuring and financing merger & acquisition transactions and advising clients in executing public and private equity and debt offerings.
“I’m honored to be the CFO and joining one of the best executive and finance teams in the FinTech industry. I am excited to take this role at this stage of the Company and in the industry. I see a bright future for the Company’s growth as enabling secure, integrated payment capabilities becomes more and more important across all vertically integrated markets,” said Steven Neel, Chief Financial Officer of Sphere.
With over 15 years of corporate development experience in the payments industry and over 10 years of investment banking experience, Neel will be instrumental in Sphere’s future growth opportunities.
Neel holds a degree in Accounting from the University of Texas at Austin.
Sphere, through the acquisitions of TrustCommerce and Anovia Payments, is a leading provider of end-to-end integrated payments, security software, payments gateway and merchant acquiring products and services. Sphere serves large, complex enterprises to small local businesses across a range of end-markets, including healthcare, restaurant, retail, parking and insurance. TrustCommerce is an integrated payments technology and security software provider enabling clients to process payments in a way that is: highly secure and compliant, integrated with their core business software, omnichannel, and processor-neutral. Anovia is a partner-channel focused merchant acquiring company serving small and midsize businesses in the U.S., Canada, and Australia.