US fintech Happy Money hires former Bank of America exec Matt Potere as new CEO
Former Bank of America executive Matt Potere has been named as the new CEO of California-based fintech Happy Money.
Happy Money names Matt Potere as new CEO
Backed by investors including TruStage Ventures and CMFG Ventures, LLC, Happy Money is a provider of unsecured lending that connects consumers with credit sourced from financial institutions.
The firm offers personal loans through its credit union and community-focused lending partners in the US to help members pay off credit card debt.
Since its inception in 2009, the platform claims to have originated over $6 billion in loans through this partnership model to the benefit of more than 300,000 credit union members.
Taking the reins from Joe Heck, who departed the company in July, Potere says he aims to “drive the next chapter of growth” for the fintech.
He assumes the position following a nine-year tenure at renewable energy loan provider Sunlight Financial, where he had served as CEO before pivoting into an advisory position in January this year.
Prior to this, Potere held a variety of leadership roles at Bank of America for over 17 years, sporting a particular focus on the bank’s $90 billion home equity portfolio and auto products.
Brian Kaas, president and managing director of TruStage Ventures and Happy Money board member, describes the new CEO as “a seasoned leader with deep experience in end-to-end digital lending” who he expects to deliver “considerable benefit to our credit union lending partners”.
TruStage Ventures has maintained a relationship with the fintech since 2017, and most recently led its closing of a “strategic transaction” in January this year.
