The deal for an undisclosed fee, sealed in the beginning August marks a new chapter in Zasiekina’s career as she leaves the CEO position at FYST. Following a continuous investor interest in a swiftly growing payment consultancy firm, operating in a market projected to reach an impressive $250trillion by 2027, the sale also doesn’t come as a surprise.
A qualified engineer, Ryta Zasiekina spent around a decade in payments and banking industry consulting. As an independent entrepreneur and business advisor Ryta specialises in general e-commerce and FinTech business consulting, payment processing, alternative payment methods, risk management and anti-fraud.
Originally from Ukraine, she has gained a market reputation as a dynamic decision-maker and a skilled negotiator, widely regarded in the industry thanks to the multitude of international connections.
In 2021 Ryta obtained her MBA degree themed around AI and cybersecurity in fraud fighting. Soon after she had to leave her homeland due to the war and settled in Riga, Latvia, where she started FYST. The project launch appeared to be timed perfectly since the major pandemic shift in consumer habits led to a double digit growth in ecommerce across the globe.
According to Kantar, the share of consumers that do 50% or more of their total number of purchases online has increased dramatically in all three of Europe’s biggest e-commerce markets. Six out of ten consumers say that they will continue to buy as much online as they do today after the pandemic has passed. This subsequently led to increase of the competition among the market players.
Born from a desire to help merchants across all sectors of ecommerce make quantifiable impacts in the online space FYST has quickly emerged as one of the key industry players. A one-stop cross-border payments and banking consultancy assisted merchants by offering a one-of-a-kind combination of flexible digital payments solutions, banking connections and technology guidance, regulatory compliance and AML advisory services from its young and skilled team.
With its revenue-centric ethos, FYST is focused on taking the complexity out of cross-border payments. They assist e-commerce businesses in liaising with smart acquiring and processing services, managing relationships with international payment schemes, and navigating an abundance of global banking relationships to ensure fast, flexible, and cost-effective cross-border payments.
FYST brings together leading payment and fintech innovators under one brand to help businesses in all sectors navigate the fast-growing cross-border e-commerce market, combining unparalleled technical ingenuity, in-depth tailored advice to help fledgling businesses scale up successfully, and easy access to more than 70 global payment methods.
Commenting on her decision Ryta Zasiekina concluded:
“The past 12 months at FYST will certainly remain along the proudest moments of my career. FYST was very successful in helping businesses unlock new opportunities in the fast-evolving e-commerce space. And we have assembled a diverse team of industry innovators and great individuals who understand the importance of payments and who are at the heart of business growth. I’m very grateful to each and everyone of them for helping me along the way.“
Featured image credit: Ryta Zasiekina, CEO FYST
