• Press Release
  • 4 Min Read

Upstream Appoints George Serfiotis As Chief Financial Officer

New CFO brings 14 years of results-focused international experience to leadership team as company expands and engages new markets

London, February 3rd, 2021 – Leading mobile technology company, Upstream announces George Serfiotis as its new Chief Financial Officer. Based in Athens, Greece, Serfiotis will be responsible for driving Upstream’s revenue growth supporting acceleration into new markets as the company expands to new verticals and engages new customers. The technology company, specializing in providing customer engagement and acquisitions solutions in the new digital environment in emerging markets, is set to double its revenue and team in the course of the next three years.

Serfiotis’ appointment is part of a planned move following the departure of current CFO, Panos Martinis, who is leaving the company after 13 successful years. Serfiotis already has five years’ experience at Upstream and has been working as Deputy CFO in preparation for the transition. During his five years as the company’s Head of Financial Planning and Analysis, Serfiotis led an international team spanning four countries, demonstrating financial leadership and being instrumental in the group’s planning, financing milestones and investor relations.

Before joining Upstream, Serfiotis worked as a consulting manager at PwC, where he successfully governed a portfolio of high-level clients throughout the telecoms, mass retail and financial sectors. He is a Chartered Accountant (FCA) and holds a first degree in Economics, from the University of La Verne, LA, as well as a Master’s in Research Methodologies from the University of Surrey, Guildford, in the UK.

Upstream CEO, Dimitris Maniatis, said: “George brings a wealth of international commercial, financial and strategic experience to his new role, and I’m confident he’ll continue to drive business growth during a time of critical change and opportunity.  As enterprises across sectors come under increasing pressure to unlock digital revenues and, in cases, compete with digitally native players, Upstream will continue to offer best in class customer-centered, data-driven technology solutions that increase customer engagement and growth, capitalizing on the upwards demand for connectivity in emerging markets. George’s experience and financial leadership will be integral to our plans for growth.”

Martinis, a well-respected member of the leadership team, oversaw several key developments during his tenure as CFO, including the orchestration of Upstream’s financing from the European Investment Bank (EIB) in 2017 and the earlier entry of the Actis Fund as strategic investor.  Throughout his tenure, he was one of the key Executive Team members driving the growth of the company from 40 employees in 2007 to 330 employees today, the trading activity in more than 30 new countries and the recruitment and onboarding of several of Upstream’s best employees.  Martinis will remain an Advisor to the CEO throughout 2021.

“Panos Martinis is a rare breed of professional who not only steered Upstream’s financial performance for the past 13 years, but also strived to ensure the smooth transition of his duties”, added Maniatis, regarding the departing CFO. “We will be sad to see him go, but at the same time happy for him as he moves on to new challenging things. I want to thank him for his years of service and dedication and, on behalf of the whole of Upstream, wish him every success in his future business and personal endeavors”. 

Departing Panos Martinis, said:  “It is a sad-happy moment for me to be leaving Upstream; sad, because I will miss working with a great team   to build a unique global company, resilient in the face of numerous challenges and always able to grow stronger and more focused in a rapidly evolving environment; happy, because I leave behind a great successor CFO and an executive team that is well equipped and ready to take the company forward.”


For more information please contact:
Upstream Corporate Communications
Ε: corp.comms@upstreamsystems.com

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