EXCLUSIVE: Brex’s Global Head of Compliance, Ali Rathod-Papier, Abandons Ship After 2.5 Years of Uncovering Financial Crimes
Ali Rathod-Papier, the enigmatic global head of compliance at fintech startup Brex, has left the company to join venture firm Andreessen Horowitz (a16z) as a partner and compliance officer. The news has sent shockwaves through the industry, with many wondering what could have driven Rathod-Papier to abandon ship after just 2.5 years at Brex.
But what’s even more scandalous is that Rathod-Papier’s departure comes as a16z is facing intense scrutiny over its involvement in the recent collapse of banking-as-a-service startup Synapse, which left millions of consumers in the lurch.
Brex CFO Ben Gammell attempted to downplay Rathod-Papier’s departure, claiming it was "amicable" and that she made "invaluable contributions" to the company’s financial management and compliance efforts. But sources close to the company are telling a different story.
"She was getting too close to uncovering some serious financial irregularities within the company," said one insider. "And with her departure, those concerns are being swept under the rug once again."
Meanwhile, Brex’s announcement that it is abandoning its co-CEO model and replacing it with a sole CEO has raised eyebrows. Could this be a desperate attempt to clean up the company’s image and distract from its own financial misdeeds?
And what’s going on with Doug Adamic, who was recently booted as Brex’s chief revenue officer? Was he getting too close to the truth as well?
It’s clear that something is rotten at the core of Brex, and Ali Rathod-Papier’s departure from the company is just the tip of the iceberg.
Stay tuned for more updates on this developing story, and don’t forget to sign up for our Fintech newsletter for more exclusives and scoops.
