How MoneyLion’s first CRO plans to ignite a revenue boost
- MoneyLion hired its first Chief Revenue Officer. What factors influenced MoneyLion's decision to recruit a Chief Revenue Officer for the first time?
- What will be Jon Kaplan’s primary focus areas as the new CRO of MoneyLion?
What key areas will Jon Kaplan target to increase sales and revenue?
The sting of rising interest rates is being felt by even the most high-flying fintech players, with funding becoming scarcer and valuations lowering than before. Despite a general rise in venture funding, fintech investment dropped 16% quarter-over-quarter to $7.3 billion in Q1’24, though deal activity increased.
Founders and CEOs are exploring various strategies to sustain and increase revenues, prompting them to invest in top-tier talent. In a firm’s hierarchy, the Chief Financial Officer [CFO] and Chief Revenue Officer [CRO] are pivotal C-suite roles in dealing with financial metrics. While a CFO is a staple in any organization, not all fintechs employ a CRO. Research shows, however, that companies with a CRO-like role experience 1.8 times greater revenue growth than those without.
Recently, there has been a wave of CRO hires and replacements, as founders seek professionals who can drive sales in tough economic times, too. Although the CRO role, positioned at the intersection of sales and marketing, is not novel, the expectations and strategies for this position are evolving in response to changing markets and consumer preferences.
Among the latest fintechs to appoint a Chief Revenue Officer is MoneyLion.
MoneyLion’s first Chief Revenue Officer
Last month, MoneyLion appointed Jon Kaplan as its first Chief Revenue Officer.
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