# Hamed Abbasi

> Hamed Abbasi is the Toronto-based co-founder and former CEO of Plooto. Born in Iran, he moved to Canada at 14, worked in banking, and co-founded casual gaming company Vast Studios before building Plooto with Serguei Kloubkov in 2015. His Plooto tenure included a shift away from Bitcoin, a subscription model introduced in 2019, and a US$20 million Series B announced in 2022. He departed as CEO in March 2024.

- **Role:** Entrepreneur; fintech founder; former chief executive
- **Organizations:** Plooto (co-founder; former CEO), Vast Studios (co-founder; former CEO), Bank of Montreal (former employee), Gemma Communications (former employee)
- **Education:** IADT
- **Known for:** Co-founded and led Vast Studios, acquired in July 2014., Co-founded Plooto in 2015 and led its early product and business-model changes., Led Plooto during its 2021 Series A and 2022 Series B financings.

## Career timeline

- **Age 14** — Moved from Iran to Canada; described arriving without English.
- **2003-2005** — Transition Director at Gemma Communications, according to the 2018 Ivey profile.
- **2006-2008** — Financial Service Coordinator at BMO, according to the 2018 Ivey profile; interview accounts describe broader personal and commercial banking experience.
- **2008-2014** — Co-founder and CEO of Vast Studios, according to the 2018 Ivey profile.
- **2014** — Vast Studios acquired by ISIS Lab Corporation on July 22; buyer later renamed Imperus Technologies.
- **2015** — Co-founded Plooto with Serguei Kloubkov; original product used Bitcoin/blockchain.
- **2016** — Pivoted Plooto to existing banking payment infrastructure.
- **2019** — Introduced a monthly software subscription; reported 82% customer retention during the transition.
- **2021** — Plooto announced C$8 million Series A financing.
- **2022** — Plooto announced US$20 million (C$27 million) Series B financing.
- **2024** — Departed Plooto as CEO in March; Kloubkov and Wajdi Ghoussoub became interim co-CEOs.
- **2025** — Acquitted by Ontario Court of Justice on April 29 of the sexual assault charge arising from November 2023.

## Achievements

- Co-founded and led Vast Studios, acquired in July 2014.
- Co-founded Plooto in 2015 and led its early product and business-model changes.
- Led Plooto during its 2021 Series A and 2022 Series B financings.
- Plooto reported over 10,000 customers in its 2023 year-end review.
- Plooto received 2023 Deloitte Technology Fast 50 Canada and Technology Fast 500 North America recognition during his tenure.

## Latest updates

- **2025-04** — Ontario Court of Justice acquitted Abbasi on April 29 of the sexual assault charge arising from November 2023. Reporting at that time confirmed he had no operational involvement with Plooto.
- **2024-03** — Plooto announced his departure on March 4 and appointed Serguei Kloubkov and Wajdi Ghoussoub interim co-CEOs.

## Links

- LinkedIn: https://www.linkedin.com/in/hamedabbasi/
- Twitter/X: https://twitter.com/Hamedenroute

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Profile page: https://yespress.io/hamed-abbasi
Published by YesPress — https://yespress.io
Last updated: 2026-10-12