Raistone has appointed Ksusha McCormick as chief strategy officer, as the US-headquartered fintech seeks to help underserved businesses access working capital facilities from the non-bank market. 

New York-based McCormick is tasked with spearheading the company’s next phase of growth and overseeing its corporate and product strategy teams, Raistone says. She reports to chief executive and founder Dave Skirzenski. 

McCormick was most recently chief executive of Decameron Technologies, a company she co-founded in 2020 that provides pricing, analytics and risk management for loan, bond and fixed-income portfolios. 

Prior to that, she was managing director at Seaport Global Holdings, where she led the launch of Seaport Global Asset Management, a regulated investment advisor specialising in stressed, distressed and niche credit strategies. 

Skirzenski says the appointment will help shape Raistone’s strategic priorities, enabling the company to “continue to deliver on our mission of helping business access new forms of capital”. 

McCormick says: “This is a pivotal time for the financial services industry, as many companies are forced to seek non-bank partners to meet their working capital needs.  

“Uncertainty in the banking sector presents a tremendous opportunity for Raistone, which has proven itself to be a reliable, scalable and flexible provider of business funding.” 

Raistone has provided nearly US$10bn in financing since it was founded in 2017, and has forged strategic partnerships with several companies including SAP, Oracle, Coupa and Mastercard. 

Its marketplace brings together buyers seeking extended payment terms, suppliers that want improved days sales outstanding, business-to-business networks that connect those parties, and funders. 

As well as providing receivables and supply chain finance products, Raistone also offers virtual card and buy-now-pay-later services.