Papaya Ltd. Names Renowned Czech Financial and Management Expert as CEO

Date – 2 January 2025

Papaya Ltd., an Electronic Money Institution specializing in innovative financial solutions, is delighted to announce the appointment of Igor Tsybolyuk as its new Chief Executive Officer (CEO), effective immediately. Igor’s extensive experience in financial services for small and medium-sized enterprises across Europe and the UK makes him an invaluable asset to the Papaya team.

Since joining Papaya Ltd. in June 2022 as Chief Operating Officer (COO), Igor Tsybolyuk has been instrumental in driving the company’s growth and stability. He has successfully implemented business strategies, set ambitious performance goals, and managed daily operations. His deep expertise in regulatory compliance and strategic planning, coupled with his experience working with regulators, makes him ideally suited to lead Papaya Ltd. into its next phase of development.

“We are thrilled to have Igor Tsybolyuk assume the role of CEO,” said Dmitrijs Panurskis, Chairman of the Board and Owner of Papaya Ltd. “His proven leadership and comprehensive understanding of the financial industry will be pivotal in advancing our mission to deliver best-in-class financial capabilities to our clients.”

Upon accepting the role, Igor Tsybolyuk stated, “I am honored to lead Papaya Ltd. during such a dynamic period in the fintech industry. We are dedicated to rapidly advancing our financial technologies while maintaining a strong focus on our customers. Our mission is to provide exceptional financial services to European consumers and businesses, including underserved segments, ensuring inclusivity and accessibility for all. We will also continue our close collaboration with regulators to uphold the highest standards of compliance and transparency.”

Igor’s previous roles include CEO positions at Talentoom Ltd. and Fin Communications s.r.o., where he focused on business development, compliance, and financial management. His extensive background in financial services and his commitment to regulatory collaboration will drive Papaya Ltd.’s strategic objectives and secure its ongoing success.

Papaya Ltd. remains committed to pioneering innovative financial solutions and enhancing the financial well-being of its clients. With Igor Tsybolyuk at the helm, the company is positioned for significant growth and continued excellence in the fintech sector.