Mission Lane appoints former board member Brandon Black as new CEO
Credit finance tech vendor, Mission Lane, has announced the appointment of new CEO Brandon Black, replacing previous boss Shane Holdaway.
New Mission Lane CEO Brandon Black (Image: LinkedIn)
Black, who has been on the fintech’s board since 2019, started his career at Capital One, where he led its customer service, collections, credit and fraud units. Moreover, he also held the COO and CEO positions at Encore Capital Group.
Speaking on the company, Black says: “By attracting world-class talent and deploying innovative technology, we’ve been able to provide financial solutions for Americans that traditional institutions typically leave behind.”
Outgoing CEO Holdaway claims that during his five-year tenure, the company has “succeeded in building one of the rarest entities in all of fintech” a profitable platform which “excels at customer service, and possesses the capacity for significant growth”.
The fintech has issued that Holdaway will guide the firm’s transition as special advisor to Black, and will remain a shareholder in the business. Additionally, he will be evaluating investment opportunities in his new position of operating partner at Mission Lane’s largest shareholder, Invus Opportunities.
Headquartered in Atlanta, US, the credit provisions company claims to have served over three million customers and built a portfolio of over $2 billion, over the last five years.
In addition to the announcement of its new CEO, the fintech concurrently declared that it has secured additional funding, with the amount undisclosed, from Invus Opportunities and QED Investors.
The news follows Mission Lane’s acquisition of San Francisco-based finance platform, Honeydue, to launch a new debit card product in 2021.
