From Boston to Brazil, Airfox appoints new global CFO

Boston-based fintech startup expands executive team to accelerate its next phase of growth in emerging markets

3 min readFeb 4, 2019


Airfox, a startup providing transformative financial services to emerging markets, today announced the appointment of Douglas Lopes as its new global chief financial officer. With more than 20 years of international experience in procurement, management, and operations, Lopes will oversee the Airfox financial division and contribute to the company’s long-term growth objectives.

Airfox CFO Douglas Lopes

“I am delighted to join Airfox, one of the most innovative startups in the world,” said Lopes, global chief financial officer, Airfox. “Living in Brazil, I need only to think of the company’s strategic retail partnership with Via Varejo to illustrate Airfox’s incredible growth since launching here in 2018. With my international business experience, I hope to help Airfox continue to grow globally.”

Brazil has a blend of characteristics which makes it an ideal market for Airfox to target first. Out of nearly 210 million individuals, approximately two-thirds of the country’s population are primarily un(der)banked and operate in a cash-based economy. In February 2018, Airfox introduced its free app to the millions of Brazilians that are currently underserved by traditional financial institutions. Once the platform is fully developed, Airfox expects to offer its platform to other organizations and institutions in other emerging markets and for its Ethereum-based AirToken to be an integral part of this global platform.

The Airfox team grew 5x in 2018, with key strategic hires including former HBSC and PayPal Executive Gustavo Riberio being named new president of Airfox Brazil. Lopes plans to leverage his industry experience for Airfox to form new partnerships, deliver on business strategy, and maximize working capital efficiency. Additionally, Don Andrade will continue as controller to oversee Airfox’s filing of the Form 10 to register AirToken as a U.S. security.

“Douglas joins Airfox with more than 20 years of experience,” said Victor Santos, CEO and co-founder, Airfox. “That experience is invaluable to Airfox, which has undergone exponential growth in just three short years. His understanding of global finances and his previous role as a CFO at another ambitious, young company means he is the ideal candidate to help Airfox achieve our mission.”

Prior to joining Airfox, Lopes served as CFO and investment relations director at Biomm SA, a publicly listed biotech startup. Fluent in Portuguese and English, as well as conversant in Spanish and Italian, Lopes also worked as chief operations officer at Grupo Ibmec Educacional, a senior manager at management consultancy company Monitor Group, and a senior procurement specialist with General Motors. Additionally, Lopes has ties to Boston having earned an MBA from MIT Sloan School of Management.

About Airfox

Airfox is on a mission to provide the roughly four billion unbanked and financially underserved individuals in emerging markets mobile access to financial services. Airfox aims to create an entirely new financial services model that serves the underbanked with reliable, egalitarian, and democratic access to capital and financial services. Airfox is a venture-backed, financial technology company based in Boston and São Paulo. To learn more about the future of decentralized digital banking, visit

Forward Looking Statements

This press release contains forward-looking statements of the Company that involve substantial risks and uncertainties. All statements, other than statements of historical facts, contained in this press release are forward-looking statements. Forward looking statements can be identified by the use of the words “anticipate,” “believe,” “estimate,” “expect,” “intend,” “may,” “plan,” “predict,” “project,” “target,” “potential,” “will,” “would,” “could,” “should,” “continue,” and similar expressions. The forward-looking statements in this press release represent the Company’s views as of the date of this press release. The Company anticipates that subsequent events and developments will cause its views to change. However, while it may elect to update these forward-looking statements at some point in the future, it has no current intention of doing so except to the extent required by applicable law. You should, therefore, not rely on these forward-looking statements as representing the Company’s views as of any date subsequent to the date of this press release. All forward-looking statements are qualified in their entirety by this cautionary statement.




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