Class Ltd (ASX:CL1) has announced that NowInfinity founders Amreeta Abbott and Vitalii Symon will depart the business following the successful integration of NowInfinity into Class.
Class implemented an onboarding strategy to bring NowInfinity into Class and,
despite the coronavirus pandemic and subsequent shutdown of travel, was able to
complete the integration of NowInfinity people, products and processes ahead of
schedule.
As a result, both Abbott and Symon will depart the business to pursue other projects.
“We believe the future of Class is improved by the addition of the NowInfinity
business, and that is entirely down to Amreeta and Vitalii and their vision for solving
pain points for clients,” Class CEO, Andrew Russell, said. “Working with the
NowInfinity leadership team through this process has been a very rewarding
experience, and we wish both of them only the best for their future endeavours.
“They are incredible entrepreneurs and are able to build solutions to make their
clients’ lives simpler and more automated, and we are excited to see what they will
do in the future.”
Abbott acknowledged the longstanding relationship between both businesses and
Class’ vision for the future of its clients was one of the reasons she agreed to sell her
company to Class.
“Only 1% of females that commence a fintech company – and less than 1% of startup
businesses – achieve the entrepreneur’s dream of a successful exit, especially to
an ASX-listed company like Class Ltd,” Abbott said.
“The objective of my transitional tenure with Class was to impart my clear vision of
NowInfinity and the transfer of knowledge to Class. I leave now with both achieved
ahead of expectation, and proud of what we have delivered. I would like to take the
opportunity to thank the Class team for all their work and support in recent months,
and I’m excited to see how the business and its ecosystem continues to evolve. The
future is bright for Class and its clients,” Abbott said.
Symon stated: “I am proud to have been part of the NowInfinity story to build an
Australian tech company leading in its sector. I enjoyed the opportunity to work with
the team at Class and integrate the two businesses. I have been impressed with the
quality of the Class technology stack, the people, and know NowInfinity is in good
hands.”
Abbott and Symon remain significant shareholders in the Class business.
