People on the Move: John Donovan, Bizfi
Small business lending fintech provider Bizfi has appointed John Donovan as the company’s CEO. A 30-year veteran in the payments and alternative finance industry, Donovan worked for nearly two decades at Mastercard, where he was integral to conceiving and developing new products, launching a global card program and growing the company’s global electronic payments offerings. As one of the founding employees of Lending Club, Donovan helped create the direct-to-consumer fintech industry. During his tenure at Lending Club, he held leadership roles including chief operating officer, board member and executive vice president of corporate development.
Since its creation in 2005, Bizfi has provided more than $1.9 billion in capital to more than 33,000 small business owners. Over the past year, the company’s originations have grown by 35 percent and are on track to approach nearly $600 million in funding this year, according the Bizfi.