Online Payment Company BlueSnap Snags Competitor’s Chief Financial Officer

BlueSnap Inc., a Waltham, Massachusetts-based online payment company, has appointed Chris Manard, a former executive at its Boston-area competitor, Cayan LLC, as its chief financial officer, the company announced Wednesday.

Prior to serving as CFO at Cayan, Mr. Menard held the same position at Brightcove Inc., where he had an integral role in the company’s Nasdaq initial public offering in 2012 and Nasdaq-listed Phase Forward Inc., acquired by software multinational Oracle Corporation for $744.6 million in 2010, during Mr. Menard’s tenure.

Boston. Photo: sea turtle

Originally founded in Israel as Plimus in 2001 and renamed BlueSnap in 2013, the company offers an online payment system with built-in anti-fraud protection for e-commerce services. In 2011, BlueSnap was acquired by Boston-headquartered investment firm Great Hill Partners LP for $115 million. The company has raised $68 million in private equity to date.

BlueSnap has 110 employees at its Massachusetts headquarters and at additional offices in London, Vancouver, and Herzliya, a town in the Tel Aviv metropolitan area, according to market research company Pitchbook Data Inc.

As part of his new role, Mr. Menard will oversee BlueSnap’s financial and legal teams, the company said in a statement.