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As CFO of Wirecard AG, Frank Freund's primary focus was on the financial strategy and growth of Wirecard itself. This included overseeing capital raises, managing financial operations, and leading strategic mergers and acquisitions to expand Wirecard's global presence in the payment processing and financial technology sector.
Frank Freund previously served as the Co-Founder and Chief Financial Officer of Wirecard AG. His tenure at Wirecard concluded in June 2020. Information about his current professional engagements is not publicly available in the same prominent manner.
Frank Freund is the Co-Founder and Chief Financial Officer of Raisin and an active angel investor based in Berlin, Germany. Before establishing the European wealth management platform in 2012, he served as an Engagement Manager at McKinsey & Company specializing in retail and corporate banking. Under his financial leadership, Raisin scaled to serve over one million customers and surpassed €50 billion in assets under management, securing backing from Index Ventures, PayPal, and Goldman Sachs. In 2023, the company completed a €60 million Series E funding round and subsequently achieved profitability. He holds a doctorate in business administration from the WHU Otto Beisheim School of Management and a master's degree from the University of Giessen. Freund currently focuses on scaling European financial technology infrastructure while directing his angel investments toward early-stage B2B software and wealthtech startups.
Frank Freund is widely recognized for his significant tenure as the Co-Founder and Chief Financial Officer (CFO) of Wirecard AG, a company he helped establish in 1999. Wirecard grew to become a leading global player in the payment processing and financial technology industry, offering solutions for electronic payments, risk management, and banking services across various sectors. As CFO, Freund was a central figure in the company's executive leadership, responsible for its overall financial strategy, capital market communications, investor relations, and the comprehensive management of its accounting, controlling, and treasury functions.
His career background is deeply rooted in finance and the burgeoning digital payments sector. From Wirecard's inception, Freund played a crucial role in its development from a startup into a publicly listed company on the Frankfurt Stock Exchange. His expertise was critical in navigating the complexities of financial markets, securing funding, and ensuring the company's compliance with international financial regulations. He was instrumental in building the financial infrastructure that supported Wirecard's rapid expansion into numerous international markets, including Asia, Europe, and North America.
While not an investor in the traditional venture capital sense, Frank Freund's 'investment focus' as CFO was directed towards the strategic financial health and growth of Wirecard itself. This included overseeing significant capital raises, managing debt financing, and allocating resources to support the company's technological advancements and market penetration efforts. He was deeply involved in evaluating and executing strategic mergers and acquisitions that expanded Wirecard's service offerings and geographical footprint. These strategic moves were designed to enhance Wirecard's competitive position and drive its revenue growth in the dynamic fintech landscape.
Under his financial leadership, Wirecard undertook several key strategic initiatives that contributed to its global presence. These included the acquisition of various payment service providers and technology companies, which were integrated into Wirecard's platform to offer a more comprehensive suite of services. For instance, the acquisition of Citigroup's prepaid card services program in 2016 significantly boosted Wirecard's presence in North America. Freund's role involved meticulous financial due diligence and integration planning for such transactions, ensuring they aligned with Wirecard's broader strategic objectives. His tenure at Wirecard, which lasted until June 2020, marked a period of intense growth and transformation for the company within the global payment processing industry.
