Capital One Acquires Lola.com Workforce and Software
Founder Paul English and CEO Mike Volpe join banking company >>
by: Harvey Chipkin
Capital One, the banking company, has acquired travel technology startup Lola.com’s workforce and software. Paul English, Lola co-founder; and Mike Volpe, CEO, will join the McLean, Va.-based company and help oversee technology operations at its office in Cambridge, Mass. English and Volpe had announced a suspension of Lola’s operations in September and promised “exciting things to come.” Many Lola employees will join Capital One at the Cambridge office. According to a statement on the Lola.com website, the company’s “talent and passion” for B2B payments will complement an existing team at Capital One focused on delivering innovative digital solutions in business. Konrad Schwarz, executive vice president of Capital One Commercial Bank, said in the statement that the Lola team’s customer-centric focus and its ability to rapidly build software at the speed required by an evolving market, combined with Capital One’s customers, brand and technology scale, “make us well positioned to transform the business payments industry.”
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