Meet Our Founders

Over 30 years of working capital innovation!

Tom Glassanos


Tom Glassanos is founder and President of the Bavelos Group. He is a payment industry veteran who has helped thousands of organizations improve cash and profitability by optimizing payables-related working capital. Tom is credited with key innovations such as “Dynamic Discounting” and “Buyer Initiated Payment (BIP)” cards and has been recognized by Supply & Demand Chain Executive Magazine as a “Pro to Know” three times.

Prior to Bavelos, Tom founded Xign Corporation where as Chief Executive Officer he built the world’s leading business settlement network, acquired by JPMorgan Chase. Before Xign, Tom pioneered Internet banking and helped over 300 U.S. banks deploy on-line bill payment. He also served in executive positions at PeopleSoft and Hewlett-Packard. Most recently he led an initiative in predictive analytics.

Tom holds an MBA from Harvard University and a Masters in Engineering and B.A. in Political Science, summa cum laude, from Tufts University.

Sunny McRae

Chief Technical Advisor

Sunny McRae is a product visionary and technology expert in payment systems and applications.  Over the past decade, Sunny’s innovations in AP automation and working capital have shaped the Industry and have been broadly adopted by leading finance operations globally. Most recently, as Senior VP Treasury Services at JPMorgan Chase, Sunny ran global operations of the JPMorgan Business Settlement Network where he drove success of working capital initiatives impacting over a trillion dollars in corporate spend.

Sunny is a founder of two successful venture capital funded companies. Solutions built under his leadership have been widely adopted by leading financial institutions, corporations, and the U.S. Federal Reserve.

Sunny holds a B.S. in Electrical Engineering from the California Polytechnic State University, San Luis Obispo. He is a holder of eight US patents and author of numerous technical papers.

Lars Rolf Jacabson

General Manager Europe

Lars is General Manager of Bavelos Group Europe. He is a seasoned financial solutions executive combining years of investment banking experience with in-depth expertise in working capital practices and funding.  Lars heads up Bavelos’ European practice where he works with enterprise clients to assess working capital opportunity and assemble high yield supplier financing solutions.

Prior to Bavelos, Lars was Vice President of Corporate Development for Tradeshift where he led the development and implementation of global early payment programs in Supply Chain Finance and Dynamic Discounting. In this role, he worked with bank and non-bank funders to package working capital solutions for leading global clients. He also orchestrated Tradeshift’s global product and partner strategy and managed financial planning and investor relations.

Lars holds a Masters in Finance and Accounting from Copenhagen Business School. He base of operations is Copenhagen, Denmark.