Mihails Safro – Chief Executive Officer of xpate

20 Jan, 20222 min read

MIhails or Mike as we call him has nearly a decade of extensive experience in the fintech and ecommerce sectors, along with several years of entrepreneurship. He founded xpate in 2019 to create a more unified, modern payment experience, which leaves a positive impression on the user.

His passion for ecommerce bloomed during his first job with ECOMMPAY. After joining the company in 2013, he quickly developed an interest in both the practical and technical side of ecommerce. Through a particular focus on regulations and licensing, Mihails was able to help ECOMMPAY obtain its UK license with the Financial Conduct Authority (FCA). He then went on to begin advising banks and ecommerce enterprises on how to improve their digital processes. His focused knowledge in this area saw him appointed personal Ecommerce Advisor to Jurijs Adamovics, Chairman of the Board of Directors at Industra Bank, earlier this year.

As a young and successful entrepreneur with expertise extending across risk management, internet acquiring services, financial restructuring, financial analysis, corporate advisory, mergers and acquisitions, and valuations, Mihails Safro is an established thought leader in the fintech industry. He has featured in several global publications and is a keen and considered industry spokesperson.

2021 has become a breakthrough year for the company. xpate has reached the 100 employee milestone and announced Mastercard principality membership – less than two years after the company’s launch. This strategic partnership has allowed xpate to enhance its platform, offer innovative solutions to new clients, bolster its merchant acquiring portfolio, and take advantage of an extended range of products and services to strengthen market offering.

Further streamlining the management of card payments, 2021 also marked the launch of xpate Links – a fast, single and unified solution designed to meet growing demand from acquirers amid soaring ecommerce volumes and an ever-increasing range of touchpoints. Among those already utilising the pioneering technology is Latvian-based, Industra Bank, with the financial institution (FI) predicting two thirds of acquiring growth will come from ecommerce channels alone in 2022.

The past 12 months have also witnessed a significant increase in team headcount, with xpate employees now topping the 100 mark – a huge psychological barrier and a sevenfold increase in the space of two years. What’s equally impressive, is xpate’s continued focus on diversity, with the company having assembled a workforce made up of 58 per cent female personnel.