LendUp names former Tesla VP CFO

LendUp today announced that Bill Donnelly, former VP of Global Financial Services for Tesla, has joined as its first CFO.

The company further strengthened its leadership team with the addition of a general manager for its loans business and a chief data scientist.

Mr. Donnelly is a 30-year consumer credit veteran with extensive experience in credit cards and loans products.

Bill Donnelly, CFO, LendUp

He spent the last four years with Tesla as VP of global financial services, responsible for providing financing solutions for Tesla’s customers across 29 countries and also served as president of Tesla’s captive finance company, Tesla Finance LLC, which offered an industry-leading leasing program innovative for its consumer-friendly agreement and for being the first end-to-end electronic lease with the ability to execute contracts on a vehicle’s touchscreen.

“We couldn’t be more excited to have an executive of Bill’s calibre join our quickly expanding team,” said Sasha Orloff, co-founder and CEO of LendUp.

Sasha Orloff

“Tesla is one of the most innovative companies in the world, and completely disrupted the sleepy auto industry. Bill’s experience leading complex global financing programs, and building first-of-their-kind, mobile-first platforms, will be invaluable to us as we continue to build out our product ecosystem and be on the forefront of serving more Americans in need of better financial services options.”

Mr. Donnelly previously spent a decade with BMW. As CFO and then president of its industrial bank, he led BMW’s credit card program and was awarded a patent for a new credit card product. His background also includes more than 15 years with the credit card, instalment loan, and automotive finance divisions of JPMorgan Chase. He was also President and CEO of retail card issuer First Electronic Bank, where he led the bank’s turnaround and achieved record profits.

“I have long admired LendUp for the important work the company is doing to expand credit access and help people improve their financial health,” Mr. Donnelly said.

“At Tesla, I witnessed how a strong sense of mission combined with a talented, passionate team can lead to incredible success and to overcoming seemingly insurmountable challenges. I have found that same sense of mission among LendUp’s amazingly talented and passionate team. I look forward to leading our finance organization and serving as a strategic partner to the entire team as we continue building innovative and mobile-first financial services products. Together, I can’t wait to achieve extraordinary success — for our customers and for our investors.”

Anu Shultes has joined as general manager of the company’s loans business, which recently surpassed $1.25 billion in originations. Shultes has 25 years of experience in financial services across lending and credit card products, primarily focused on underserved consumers and has managed multi-billion-dollar loan portfolios and built $1B businesses from product launch to widespread adoption. Shultes most recently served as Chief Operating Officer of mobile-first global gifting platform Swych, and before that served in senior leadership roles at Blackhawk Network, AccountNow, National City Bank, and Providian Financial.

Dr. Leonard Roseman has joined LendUp as the chief data scientist, to lead a growing team using machine learning to improve financial inclusion through expanded credit access and lowering the cost of credit to borrowers. Dr. Roseman has 30 years of experience in modelling credit risk, pricing, and model risk capital.

He has worked with a variety of companies as a statistician, technical consultant, and strategy consultant focused on experimental design, predictive modelling, and strategic analysis. Roseman most recently served as Head of Group Decision Sciences at the Commonwealth Bank of Australia, and before that served as Deputy Chief Model Risk Officer at Capital One.

LendUp is also announcing a number of significant growth and social impact milestones. The company has now saved its borrowers $150 million in fees and interest through the use of its credit card and loan products. These savings have helped close the gap caused by poor credit, which costs Americans roughly $250,000 more over the course of their lifetimes. Additionally, consumers have taken LendUp’s free online financial education courses more than 1.7 million times. Finally, the company launched one of the most innovative credit cards out of beta at the beginning of 2017.

Free newsletter signup
Never miss another Bankless Times news story as we send you hand-picked articles every morning
We hate spam. Your email address will not be sold or shared with anyone else. You will only receive our daily newsletter. You can unsubscribe at any time.

Leave A Comment

You must be logged in to post a comment.