Seeing credit scores a blunt weapon, Ovanti picks industry leader to oversee Flote in US market

Ovanti Ltd (ASX:OVT) has launched a senior industry advisory board to oversee the penetration of its BNPL product, Flote, into the U.S. market, with The Missing Link founder and CEO Alex Gambotto to chair the board.

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The Missing Link (TML) is a “cyber security, IT & cloud [business]” with a recent focus on AI Automation. Long story short, according to Ovanti: “After more than 27 years as Founder & CEO, Alex led The Missing Link through a landmark transaction: its strategic sale to global technology giant Infosys… extensive media coverage of the transaction has reported an indicative valuation in excess of A$100M.”

TML now brands itself as ‘an Infosys company‘ – ultimately hinting that with Gambotto at the head of Ovanti’s new advisory board, a network exists there which could now underpin the trajectory of Ovanti’s Flote into the U.S. markets.

(Ovanti noted on Tuesday that Gambotto’s experience includes M&A and corporate transactions, as well as proven leadership in ‘trust-heavy’ industries and experience teaming up with large players.)

Merchant onboarding for Flote will be a focus of Gambotto’s, as well as an ongoing eye on SPAC listings for Ovanti to potentially list on the Nasdaq.

“Ovanti is taking on one of the biggest inefficiencies in U.S. consumer finance — enabling fair, transparent, cash-flow-based affordability rather than legacy credit scoring,” Ovanti Advisory Board Chair Alex Gambotto said.

“I’ve spent 25-plus years building and scaling technology organisations, solving complex problems and partnering with enterprise customers. Flote has the right product thesis at the right time, supported by a hungry, execution-driven team.”

OVT last traded at 0.1cps.

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