Alacriti, a leading provider of cloud-based payment technology and money movement solutions, has appointed Michael Lovell as chief financial officer as the company enters its next stage of expansion.

The appointment comes as Alacriti accelerates growth following a recent strategic investment and continues to broaden the reach of its payments infrastructure technology, which offers real-time payments, money movement modernization, and digital money solutions to banks, credit unions, and businesses. That demand tracks a broader shift in the U.S. payments industry, where the expansion of instant payment rails — The Clearing House's RTP network and the Federal Reserve's FedNow Service, launched in July 2023 — has added momentum to financial institutions' efforts to modernize legacy money movement systems.

In his new role, Lovell will lead Alacriti's finance, accounting, and financial planning and analysis (FP&A) functions, partnering closely with the executive team to support the company's continued expansion and long-term strategic initiatives.

"Michael is one of high-growth SaaS' most accomplished CFOs, and his experience scaling leading tech companies makes him an outstanding addition to our leadership team," said Manish Gurukula, co-founder and CEO of Alacriti. "His track record of leading high-performing organizations and navigating the complexities of rapid growth will be invaluable as we build for scale and continue creating long-term value for our customers and stakeholders."

Lovell brings more than 25 years of executive leadership experience spanning finance, operations, and corporate banking, including scaling high-growth SaaS businesses. He joins Alacriti from Iodine Software, where he most recently served as chief financial officer. During his six-year tenure there, he built the company's finance and legal functions from the ground up and helped scale revenue from $26 million to $125 million.

His career reflects nearly three decades of experience scaling growth-stage technology companies and partnering with private equity sponsors such as Bain Capital, Silversmith, and Advent — a background that maps to the post-investment growth phase Alacriti now describes. He previously held chief financial officer roles at Zenoss, Lifesize, and Grassroots Enterprise.

"What drew me to Alacriti was its combination of innovative technology and unwavering focus on customer success," said Lovell. "The company has built an exceptional reputation for helping financial institutions evolve payments and deliver modern money movement experiences to their customers. I look forward to strengthening Alacriti's financial foundation and helping scale the business."

Lovell's appointment supports Alacriti's next phase of growth at a time when financial institutions are increasingly modernizing their payment infrastructure to enable faster innovation and unified money movement. As he takes office, the company's stated focus is building the financial foundation to match that expansion — the kind of finance build-out Lovell has previously led at comparable growth-stage technology companies.