Finstar Financial Group has named Mark Ruddock CEO of FinstarLabs, its corporate alt-fi venture group.
Mr. Ruddock has more than 15 years of leadership in venture-backed startups including enterprise software, mobile apps and online financial services. He comes from credit provider Wonga where he oversaw consumer lending operations in Canada, Spain, Poland and South Africa and guided investments in Scandinavian and German companies.
He earlier was CEO of Viigo, a Canadian mobile startup which became a popular Blackberry app by the time it was acquired by RIM in 2010.
“Mark has the gravitas, expertise, and sense of entrepreneurial spirit and adventure that will prove invaluable as we embark on a major investment program to fund the most exciting fintech startups internationally,” Finstar CEO Nicholas Jordan said.
Mr. Ruddock acknowledges his latest move comes at an exciting time for the industry.
“A unique intersection of cost-effective, cloud-based technologies, anytime, anywhere and always-connected handheld computing, and powerful advances in data science and artificial intelligence, are creating new opportunities to serve those historically underserved by financial institutions.”