Fintech Lender LendUp Hires Tesla Head Of Financial Services As CFO

What Happened

LendUp, a fintech loan provider that provides small-dollar loans and credit cards to consumers with subprime credit, has hired former Tesla Inc TSLA head of financial services Bill Donnelly as chief financial officer.

Why It’s Important

Donnelly’s team helped craft Tesla’s digital direct-to-consumer model, and can bring that experience to a fintech startup

Statement From Donnelly

“I find that many of the reasons that I joined Tesla are the same reasons that I am joining LendUp. LendUp is committed to making the world a better place by providing credit to those who find it most difficult to obtain. This is similar to Tesla’s mission of trying to make the world a better place by hastening it’s transition to sustainable energy.”