Nift names first-ever chief revenue officer

American technology company Nift, which connects commerce platforms to advertisers and brands to new customers, has named Saket Mehta as its first chief revenue officer (CRO), overseeing sales, business development and partnerships with enterprises and brands.

Mehta, a fintech industry veteran, most recently served as vice president of global advertising partnerships and revenue at Block, the parent company of Cash App Afterpay and Square. In his new role with Nift, he will report directly to Nift founder and chief executive Elery Pfeffer.

His appointment follows Nift’s recent partnership with Klarna and builds on its earlier launch with Cash App Afterpay, which highlights an industry shift as consumer fintech companies increasingly look to partner with brands and retailers to create more on-site ad inventory that is native to their customer experience.

Commenting on the appointment, Pfeffer said in a statement: “We’re extremely pleased to welcome Saket Mehta as our first CRO. His track record of scaling global advertising partnerships and revenue across fintech, logistics and adtech companies - and his experience helping grow organisations from startup to successful acquisition to IPO - make him the ideal leader to drive our next stage of revenue growth and build our commerce partner and DTC brand networks.”

Nift’s AI-powered technology helps fintech and other consumer-facing platforms monetise their commerce media network inventory while offering a more personalised experience that boosts consumer sentiment, engagement and loyalty. Its two-sided ad marketplace enables commerce platforms across finance, fitness, retail, travel and other verticals to unlock passive revenue while giving direct-to-consumer brands an efficient way to acquire new customers. Its technology is integrated into each partner’s customer experience, offering exclusive ‘thank you’ gifts deliverable at nearly 20 touchpoints across the customer journey.

The Nift platform offers a cost-effective customer acquisition model that it states delivers better ROI than traditional banner ads, with conversion rates of up to 10 percent, versus 1–3 percent for traditional digital ads on even the most popular search and social media platforms. Nift’s model drives new demand for DTC brands’ products and services as well as repeat purchases.

Each month, Nift delivers more than 50 million thank-yous for its partners in the US, the UK and Canada. Among consumers who receive a Nift, 88 percent rate their gift positively, the company’s data show, and 72 percent say they like the gifting company more for giving them a thank-you gift. In addition, 70 percent of those who redeemed a Nift say they will use the brand again.

Mehta added: “Commerce media can’t follow the same playbook as retail media because consumer-facing platforms in verticals like fintech, travel and healthcare aren’t simply reordering the digital shopping aisle - they’re crossing over categories and connecting with consumers in new contexts.

“I’m thrilled to join Nift at this key point in our industry’s evolution because its AI platform lets CMNs drive passive revenue and create incremental ad inventory that feels completely native to their brand without disrupting the customer experience.”