Singapore-based payables management software platform Spenmo announced that it has appointed Justin Choi as its new CEO. He succeeds Mohandass Kalaichelvan who will assume an advisory position while remaining on the company’s Board of Directors.

Mohandass said,

“It has been an honor to build a software platform for businesses and their finance teams and there’s so much more to be done. I remain committed to supporting Spenmo as an advisor and board member and look forward to the next phase of my journey with the company.

 

I would also like to welcome Justin who is well-respected within Asia’s tech ecosystem. His experience will strengthen the foundations of the company to support scalability and innovation.”

Choi brings a successful 20+ year track record as a senior operating executive in the technology sector at companies such as Gojek and Coinbase and as a private equity investor at firms including CVC Capital Partners.

Justin said,

“Over the years, Spenmo has become a valued partner to companies looking to achieve greater productivity, control, and visibility over expenses so that they can focus their efforts on growing and running their businesses.

 

I am grateful for this opportunity and am excited to lead Spenmo during this critical period for the company. I look forward to working closely with the Board to chart a course for the future and drive the business forward.”

In his new role, Choi will lead an executive team, which includes Co-founder and Chief Technology Officer Isaq Ahmed as well as recently appointed Chief Product Officer (CPO) Jo-ann Chung.

The former CPO Andika Prasetya was rumoured to have embezzled S$1.2 million in Indonesia which reportedly led to an internal investigation by its investors Insight Partners and Alpha JWC Ventures. Prasetya denied these allegations and stepped down from his role in February 2023.