NMI, a payments infrastructure company that powers more than one million merchants worldwide, has announced a leadership transition as part of its long-term growth strategy. After seven years as Chief Executive Officer, Vijay Sondhi will step down and assume a strategic advisor role. Steven Pinado, a fintech executive with nearly three decades of experience, will take over as CEO.
Under Sondhi’s leadership, NMI expanded from a payment gateway into a full-stack embedded payments platform, scaling from 550 million transactions and $45 billion in annual payments volume to more than 5.8 billion transactions and $440 billion annually. Reflecting on his tenure, Sondhi said, “Leading NMI has been both an honor and a privilege. I’m incredibly proud of what we’ve built together – a platform that empowers innovation across the payments ecosystem.”
Pinado previously served as President of Billtrust, where he guided the company through a public offering, and held senior roles at Jonas Software, Constellation Payments, and Radian Capital. On his new role, Pinado remarked, “NMI has built an impressive legacy as a leader in embedded payments infrastructure. I am honored to succeed Vijay, and excited to join this outstanding team at such a pivotal moment.” Peter Christodoulo, Chairman of NMI’s board and partner at Francisco Partners, added, “As we look to the future, we’re thrilled to welcome Steve as our new CEO. His strategic mindset and deep expertise across payments and software make him the right person to lead NMI into its next phase.”