Credit Sesame taps Silicon Valley entrepreneur and venture partner to lead corporate development

Ian Foley joins expanding executive team as the company prepares for exponential growth

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Nov 19, 2020, 09:00 ET

SAN FRANCISCO, Nov. 19, 2020 /PRNewswire/ -- Credit Sesame today announced the addition of Ian Foley to its leadership team as the company's first head of corporate development. Foley brings more than 20 years of experience in building and selling fintech startups and managing complex strategic partnerships. In this role, Foley will support Credit Sesame's rapid expansion by identifying strategic partners with customer scale that complement the evolving needs of consumers and selectively acquiring firms that can help expedite the company's speed to market.

"Credit Sesame is one of few fintechs with massive scale and a profitable business model," said Foley. "Our holistic platform is well-positioned to be the category leader in the financial wellness market, and I'm looking forward to spearheading strategic partnerships and opportunities to help accelerate that growth."

Credit Sesame is on a rapid growth trajectory, with more than 15 million members and 400,000 digital bank accounts opened. The company recently acquired Canadian neobank STACK, which marked the beginning of its international expansion. The integration of STACK's banking capabilities has also expedited the release of new digital banking features aimed at helping customers manage their entire financial picture. Insights into customers' credit and cashflow will also help better match them with credit and loan products from Credit Sesame's large base of financial partners.

"Credit Sesame is on an aggressive path to become the category leader in financial wellness," said Adrian Nazari, CEO and founder, Credit Sesame. "Ian brings valuable experience in identifying the right partners to help us expedite that growth while prioritizing the needs of our customers."

Foley is a seasoned entrepreneur, venture capitalist, and investment banker leading mid-market transactions. He served as CEO and founder of acuteIQ, a fintech startup sold to a private equity firm and awarded by SAP as the "Most Innovative" solution in Enterprise Software and AI. He also led the sales and business development teams at three other technology startups with successful exits, including YuMe, which went public in 2013. Additionally, Foley is a venture investor in eight companies, four of which have been acquired.

Credit Sesame has been operationally profitable since 2016, and the company has a proven track record: 61 percent of Credit Sesame members have seen their credit score improve within the first six months of using the platform — 50 percent have seen their credit score improve by more than ten points in their first six months, and 20 percent have seen their credit score improve more than 50 points in their first six months.

To learn more about Credit Sesame, visit creditsesame.com.

About Credit Sesame

Credit Sesame's mission is to help consumers work toward financial stability and ultimately create better opportunities for themselves and their families. Strong credit health is inextricably linked to financial health and stability, and with the launch of Sesame Cash, Credit Sesame will help consumers manage both. Credit Sesame has helped millions of consumers improve their credit scores, increase their approval odds, lower the cost of credit and save money. Credit Sesame is funded by leading venture capital firms and strategic investors, including Menlo Ventures, Inventus Capital, Globespan Capital, IA Capital Groups, NortonLifeLock, Capital One Ventures, Stanford University, and ATW Partners, among others. Credit Sesame currently operates in the U.S. and Canada. For more information on Credit Sesame, visit www.creditsesame.com and follow on Facebook, Twitter and LinkedIn.

SOURCE Credit Sesame