Frisco-Based Outpave Strengthens Leadership With New COO Following $1.2M Seed Round

Tom Payne brings nearly three decades of experience from SAP Concur to Outpave, where he will lead the fintech startup’s operations and drive innovation in financial services for the construction and trades industries.

Frisco-based Outpave, a fintech startup specializing in financial services and spend management for the construction and trades industries, has announced the appointment of Tom Payne as its chief operating officer.

The company, founded in 2023 by Zachary Ahlstedt and David Cauthron, aims to streamline financial operations for small to mid-sized trade and construction businesses. In May 2024, Outpave secured $1.2 million in seed funding led by Fritz-Pak Corporation, a manufacturer of concrete additive solutions.

Outpave Co-Founder and CEO Ahlstedt said the new COO brings industry experience to the company “that is second to none.” And Payne’s talent for “tackling some of the toughest segments of running a business is invaluable to our team,” he added.

Payne has experience working with customers of all sizes, from small businesses to Fortune 100 enterprises, and brings extensive experience from his 27-year career at SAP Concur where he started in consulting, then led global support before moving over to lead managed business services and growing that portfolio to more than $300 million in revenue as SVP.

Payne played an integral role in SAP Concur’s evolution from Portable Software to Concur, its landmark acquisition of Outtask, and ultimately Concur’s acquisition by SAP, Outpave said.

Payne is expected to bring crucial expertise to Outpave, spanning strategic leadership, operational efficiency, and product innovation.

CEO Ahlstedt—who himself has a background of nearly 15 years at SAP Concur—said Payne’s leadership will enable the company to achieve its vision of driving change within the construction and building industry.

In a statement, the new COO said he is thrilled to join the dynamic team at Outpave that moves fast to meet customer needs and innovate.

“The quickness of customer onboarding, the simplification of expense capture, and the accountability delivered by the platform today are remarkable,” Payne said. “The engineering velocity has allowed Outpave to go from an idea to a production solution very quickly.”

Payne said the company’s efficiency allows it to continuously add features. “That environment makes it incredibly exciting to serve a role that is focused on operations and delivering value to customer base,” he added.

CEO Ahlstedt has said the company’s “roadmap is set to not only simplify but also innovate financial management.”

Outpave, which positions itself as a banking-as-a-service platform designed specifically for the construction and residential services sector, enables firms to manage their finances all in one place. The fintech offers services such as direct banking integration, expense tracking, customizable card issuance, real-time analytics, and invoice management.

With real-time visibility into spending, seamless accounting integration, and instant transaction notifications, Outpave wants to eliminate the hassle of chasing invoices and managing receipts. Outpave’s mobile app also eliminates the need for traditional expense reports, the company said.

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