London, 15 October 2024: Jaja Finance (“Jaja”) has today announced that Dave Chan has decided to step down as Chief Executive Officer of Jaja Finance. Dave will support the leadership transition and serve as a senior advisor to the business while also remaining on the Board as a non-Executive Director.   Francesco Di Costanzo, Chief Financial Officer of Jaja, will act as interim Chief Executive Officer, effective from today, pending a permanent appointment by the Board. The transition has received regulatory approval from the Financial Conduct Authority. 

Dave Chan, Senior Advisor and Non-Executive Board Member at Jaja Finance, said: “Leading Jaja to where it is today has been a great pleasure. Over the last four years we have reached some significant milestones including our Asda Money Partnership and launching our own brand credit card, Jaja Vanta.  

“Thanks to the fantastic work and commitment of all Jaja colleagues, we have achieved real success in creating a credit card which is simple and fair, while opening up credit to those who need it most. It has been a privilege to lead Jaja through this significant growth period and our journey to becoming the UK’s leading digital Iender and I look forward to staying involved with the business as it continues to deliver on its ambitious growth plans in the future.” 

Francesco Di Costanzo, interim Chief Executive Officer at Jaja Finance, said: “Since taking up the role as CEO in 2020, Dave has played a key role in transitioning the business from a servicer to one of the UK’s leading digital lenders. Thanks to his passion and commitment, Dave has helped drive the company’s ambitious growth plans, enabling Jaja to bring simple and fair credit to the UK market. Dave has made an enormous contribution to Jaja and we are delighted to continue benefiting from his expertise as he transitions to his new role.”  

About Jaja Finance        

Jaja Finance Ltd is a fintech providing digitally led credit card products with a focus on simplicity, functionality, service and security. It is headquartered in London and regulated by the FCA and combines the technical and digital capabilities of a modern technology business with deep retail financial services and credit card sector experience.        

Following its closed transaction of up to £120 million with new majority shareholders – KKR and TDR Capital – in March 2022, Jaja Finance signed a partnership deal with Asda to provide digital reward credit cards to its 18 million customers, and subsequently launched the Asda Money Credit Card and Asda Money Select Credit Card.   More recently, Jaja launched its first-ever own brand credit card, Jaja Vanta Credit Card.            

In June 2019, Jaja welcomed Bank of Ireland UK and AA Credit Card customers onto its new credit card platform in October 2020, transferring historical Post Office Credit Cards to new Jaja Credit Cards.         

Media contacts

Gabrielle O’Gara
Tel: 07818 240 343 / Email: press@jajafinance.com