PINE BROOK, N.J., July 30, 2015 /PRNewswire/ -- Paydunk, LLC is pleased to announce the addition of Michael J. Losch to its team. Mike will serve as the company's Chief Financial Officer bringing over thirty years of professional business experience to Paydunk's executive team. Mike's leadership and finance experience will support Paydunk's aggressive growth strategy over the next 12 months.
Mr. Losch has served as Chief Financial Officer and Chief Administrative Officer of both public and private companies during his career. This experience crosses industries and include Tellium, IDF International, Bioenergy of America and ACT Oncology. As the Chief Financial Officer of Tellium the company grew from zero revenues to over $150 million in revenues and raised over $400 million including an IPO with Morgan Stanley. Mike also served as Chief Financial Officer for Bell Atlantic-New Jersey and Executive Director Investor Relations.
Mike Marenick, Paydunk Co-Founder, said, "We are fortunate to have Mike join us at this early stage of our growth. We are excited to leverage his experience and guidance. With the recent traction Paydunk has had over the last few weeks, it is critical to have a member of the executive team who has taken a company from ground zero to full potential."
Mike has been a board member for the Raritan Bay Medical Center (chair of Audit Committee); the Eastern Monmouth Chamber of Commerce; President of the Shrewsbury Board of Education; Shrewsbury Youth Athletic Association; Friendly Sons of St. Patrick of the Jersey Shore and currently the Big Brothers Big Sisters of Monmouth and Middlesex Counties.
Robert McHugh, Paydunk Co-Founder added "One of Paydunk's key initiatives is to offer our solution to charitable organizations, Mike adds a lot of value through his network and experience in this space."
Mr. Losch received both a B. S. and an M.B.A. from Lehigh University and he has done post-graduate work at the Wharton School of Business and Williams College.
Paydunk, LLC is a New Jersey based company that was founded in September 2014 by Mike Marenick and Robert McHugh. The Paydunk mobile app makes online checkout a simple, familiar and secure process with patent pending technology that encrypts customers' personal financial information. Paydunk helps retailers of all sizes reduce checkout abandonment, increases customer satisfaction by providing a fast and easy payment method and is commercially available now for both iOS and Android mobile phones.
SOURCE Paydunk, LLC