Marketplace Apps Annual Report 2025

Behind this Report

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Zack Chudry Associate

Ismael Wrixen Executive Chairman

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Ismael Wrixen is the Executive Chairman of FE International and the CEO of ThriveCart. He is a member of the Forbes Finance Council and a NACVA 40 Under 40 Award winner. Before FE, Wrixen was in large-cap M&A investment banking, where he executed several high-profile public deals, namely in the technology sector.

Zack Chudry has successfully executed 40 transactions across FE International’s verticals. He was previously in private client services at Ernst & Young.

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Devang Chandak, CA Associate

Thomas Smale Chief Executive Officer

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Thomas Smale dedicates his career to helping founders get acquired on their terms. He built FE into the leading advisor for lower middle market technology businesses. FE's team has completed over 1,500 transactions with a combined value of over $50 billion. Thomas offers invaluable technical, diligence, and negotiation advice to early-stage and seasoned business owners alike.

Devang Chandak has 5 years of experience in valuation and modeling. He provides data-driven valuations and supports the M&A team. He has previously worked with Deloitte and Kroll (Duff and Phelps).

Randal Stephenson Head of Investment Banking

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Randal Stephenson has over 25 years of experience in both M&A advisory and debt and equity capital raising. He has closed over 300 transactions valued at $44 billion across 22 countries. Before FE, he held senior investment banking positions at Merrill Lynch, Jefferies, CIT Group, and Duff & Phelps.

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