Fat Zebra appoints new COO and CCO ahead of payments industry reform
Payments should never hold a business back — and as Australia's payments industry moves toward a new licensing regime, having the right leadership in place matters more than ever.
Fat Zebra has appointed Leena Hakkinen as Chief Operating Officer and Kees Kwakernaak as Chief Commercial Officer, sharpening its operational and commercial leadership as the business enters its next stage of growth and the industry moves toward a Payments Service Provider (PSP) licensing regime.
Who is Leena Hakkinen, Fat Zebra's new Chief Operating Officer?
Leena Hakkinen is Fat Zebra's new Chief Operating Officer. She joined the company in June 2025 and moves into the executive leadership team, where she will lead operational risk, customer operations, business continuity and organisational effectiveness across the business — strengthening the governance and risk function that becomes critical as the payments industry prepares for PSP licensing.
"Getting operational risk and customer operations right allows the rest of the business to move fast," said Leena Hakkinen. "With PSP licensing on the horizon, it's imperative for fintech companies to treat governance as core infrastructure. That's the standard we're operating to at Fat Zebra, and I'm looking forward to leading the team on a successful transition."
Who is Kees Kwakernaak, Fat Zebra's new Chief Commercial Officer?
Kees Kwakernaak is Fat Zebra's new Chief Commercial Officer. He joined the company in February 2024 and has served as Chief Operating Officer since then. In his new role, he will own Fat Zebra's commercial strategy across Australia and New Zealand — including strategic partnerships, banking and card scheme relationships, and the company's Acquiring, Account-to-Account and Open Banking businesses.
"My focus is on the relationships that compound over time. That's our banking and card scheme partners, and the Account-to-Account and Open Banking businesses where we can give merchants real, competitive alternatives to global players in the space," said Kees Kwakernaak. "Fat Zebra has the platform and the local footprint. I'm looking forward to turning that into deeper partnerships and long-term value."
Why is Fat Zebra making these changes now?
The appointments follow a 12-month period of strategic moves for Fat Zebra, including three acquisitions in just over a year: Adatree, Pin Payments and SecurePay. Fat Zebra processes more than 500 million transactions annually and over AUD$95 billion for brands including MYOB, Zip and RACQ.
"These promotions reflect the next stage of Fat Zebra's journey," said Pred Dragila, Founder and CEO of Fat Zebra. "Leena's move deepens the discipline in our risk and governance function, which is more important than ever as the industry heads towards PSP licensing and we position for that transition. Kees moving into the commercial seat lets him focus on the strategic relationships and partnerships that will drive our next phase of growth."
FAQs
What is PSP licensing, and why does it matter for Fat Zebra? A Payments Service Provider (PSP) licensing regime is a new regulatory framework for Australia's payments industry, formalising oversight of companies like Fat Zebra that process payments on behalf of merchants. Fat Zebra is strengthening its risk and governance function ahead of this transition.
Did Leena Hakkinen or Kees Kwakernaak change companies for these roles? No. Both moves are internal promotions. Leena Hakkinen joined Fat Zebra in June 2025, and Kees Kwakernaak joined in February 2024 and previously served as Chief Operating Officer before moving into the Chief Commercial Officer role.
What does Fat Zebra's Chief Commercial Officer own? Fat Zebra's Chief Commercial Officer is responsible for commercial strategy across Australia and New Zealand, including strategic partnerships, banking and card scheme relationships, and the company's Acquiring, Account-to-Account and Open Banking businesses.
