Banquo Labs founder Bo Brustkern has been appointed as the new CEO of Esther, a US-based fintech infrastructure platform that provides technology for distributing cash and vouchers during humanitarian crises.
Brustkern first joined the company as chief operations officer in May 2025 and now succeeds Carol Rossborough as CEO, who founded the business in 2018. Rossborough took on the role following the departure of Richard Johnston in June.
Based in Denver, Colorado, Esther creates traceable payment systems that focus on enabling non-governmental organisations (NGOs) to deliver financial assistance to refugees, displaced families and disaster victims.
Backers include Clarendon Fund Managers, Ada Ventures and SFC Capital. Esther also entered a partnership with Visa in June focused on co-developing data capture and management tools for NGOs. The duo are currently working with emergency response NGO Maui Rapid Response to pilot a range of aid-specific Visa cards in Hawaii.
In a statement on the new CEO appointment, Rossborough highlights “strong momentum from pilot expansions and upcoming anchor partnerships”, claiming that the business is moving towards being “cashflow positive within the next five months”. Brustkern has served as an advisor to Rossborough since the company’s creation, supporting Esther throughout what Rossborough describes as “our early and often tumultuous growth”.
Brustkern says he will now focus on “expanding our work with government partners, funders and regulatory agencies to dramatically increase the efficiency of fund flows to communities”.
A serial entrepreneur, Brustkern brings over 20 years of financial services experience to the position. He previously co-founded Arcstone Partners, which was acquired by Frank, Rimerman and Co in 2017; NSR Invest, which merged with LendingRobot in 2017; and media company FIntech Nexus. Wrapping up a stint as interim COO of Griptape in February last year, Brustkern went on to create Banquo Labs the following month, which serves as a business consulting and operational support company for early-stage start-ups.
Source: https://www.fintechfutures.com/
