Ex-Simple co-founder preps developer app for launch
An open access financial network with a “stable cryptocurrency at its core”
Shamir Karkal, the former CFO and co-founder of Simple, is building a new start-up to help developers get fintech apps to market.
Called Sila, the new company plans to provide an open access financial network with a “stable cryptocurrency at its core”.
Karkal is currently looking for backend engineers to develop the systems, and be part of a larger team to create APIs.
As he is still looking for staff and these are clearly early days, then there are not many more details to share.
However, along with working at online banking services provider Simple, Karkal has some handy fintech experience.
He is currently “entrepreneur in residence” for US investment firm Omidyar Network.
In addition, he was head of open APIs for BBVA for two years. (BBVA acquired Simple in 2014 for $117 million.)
Karkal doesn’t just create firms he also invests in them. Some of these include TransferWise; RealtyMogul, a real estate crowdfunding platform; EarnUp, a loan payment automation provider; and WinWin, a New York-based savings app.
By the way, Josh Reich was the other co-founder of Simple. He left the company to become a farmer and spend more time with his family. He was the last of the Simple co-founders to leave following the BBVA takeover.
