New CEO takes helm as NMI pioneers advancements in embedded payment technology
NMI Announces New CEO, Steven Pinado, to Lead Next Phase of Growth
After seven years at the helm, NMI's CEO Vijay Sondhi will step down on September 2, 2025, but will remain with the company as a strategic advisor through the end of the year. Sondhi's leadership saw NMI transform from a payment gateway provider into a full-stack embedded payments acceptance platform, growing from enabling 550 million transactions and $45 billion in annual payments volume to processing more than 5.8 billion transactions and $440 billion annually.
Steven Pinado, appointed as the new CEO, brings nearly 30 years of experience in fintech, embedded payments, and scaling growth-stage businesses. His professional background includes leadership roles at Jonas Software and Constellation Payments, where he pioneered embedded payments for software platforms. Pinado was also a Partner at Radian Capital, leading the firm's operating team, and President of Billtrust, where he led the company through a successful IPO and subsequent sale.
Pinado expressed his excitement about joining NMI, acknowledging the company's legacy as a leader in embedded payments infrastructure. He believes NMI is well-positioned to continue helping partners deliver seamless, scalable payment experiences as software reshapes commerce.
Byron Lichtenstein, Managing Director at Insight Partners, expressed confidence in Pinado's ability to lead NMI into its next stage of growth. Lichtenstein praised Vijay Sondhi's leadership and contributions to NMI's growth and transformation, and believes that Pinado's appointment as CEO will help NMI scale new heights and deliver greater value to partners.
Peter Christodoulo, partner at Francisco Partners and chairman of NMI's board, also praised Sondhi's leadership and vision, which helped shape NMI into the embedded payments leader it is today. Christodoulo and Lichtenstein both believe that Pinado's strategic vision and extensive fintech experience make him the ideal candidate to lead NMI into its next phase.
The network of merchants powered by NMI has expanded nearly tenfold, now exceeding one million worldwide. Pinado's strategic vision focuses on powering the company’s next wave of innovation and growth, building on a strong platform foundation that empowers innovation across the payments ecosystem, and continuing scaling embedded payments infrastructure globally.
This leadership transition was part of a thoughtful succession planning process, involving Sondhi, the executive leadership team, and the board to ensure continuity and position NMI for long-term success.
In summary, Pinado’s extensive fintech leadership, proven track record in growth-stage companies, and deep embedded payments expertise set a strategic course for NMI to accelerate innovation and expand its global footprint in embedded payments infrastructure.
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