Søren Westh Lonning hops on board Pleo’s B2B finance train as CFO

  • B2B spend management platform Pleo has named Søren Westh Lonning as its Chief Financial Officer (CFO).
  • Lonning’s appointment comes during a period of high growth for the Danish fintech company.
  • With over 20 years of financial leadership experience, Lonning held CFO positions at Chr Hansen, WS Audiology and Danish Endurance.
  • Pleo expects Lonning’s appointment to complement their existing leadership team, helping their goal to save businesses crucial strategic time and resources.

Danish fintech Pleo, a platform that manages business-to-business spend, has announced Søren Westh Lonning as its new Chief Financial Officer (CFO). Lonning, who has previously served in an advisory capacity for Pleo, is being brought on full-time during a period of “high growth” for the company. Despite a reduction of 15% of its workforce a year ago, Pleo has demonstrated strong growth, signalled by the introduction of new features such as auto top-up functionality and multi-entity management.

Lonning has over two decades of financial leadership experience, having held CFO positions at companies across various sectors, including bioscience company Chr Hansen, hearing aid firm WS Audiology and clothing brand Danish Endurance. In his new role at Pleo, Lonning will be part of the existing leadership team and is expected to contribute to the company’s mission to save businesses valuable strategic time and resources.

Pleo’s latest appointment comes amid rumours of a potential stock market flotation. Some media reports suggest the designation of a CFO could be a preparatory measure for such a step. However, according to CNBC, Pleo suggested it wouldn’t be ready to make such a move until 2025. The company’s CEO, Jeppe Rindom, stated that while this is a significant consideration, no definitive plans for an Initial Public Offering (IPO) have been set in motion yet.