Spenmo’s CEO Justin Choi Resigns After One Month for ‘Personal Reasons’by Fintech News Singapore July 31, 2023
Justin Choi has resigned as the CEO of Spenmo, a Singapore-based payables management software platform, just one month after he took up the position for “personal reasons”, according to a report by DealStreet Asia.
Choi took over from Mohandass Kalaichelvan who had then stepped into an advisory role while remaining on the company’s Board of Directors.
He has more than 20 years of experience 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.
Spenmo said that its Chief Product Officer Jo-ann Chung, who had joined the company six months ago, will now serve as its acting CEO.
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 to Tech in Asia Indonesia and stepped down from his role in February 2023.