Financing military veteran-owned small businesses lender StreetShares announced on Wednesday it has appointed Mohan A. Rao as Chief Product and Technology Officer. According to the online lender, Rao is the former Chief Technology Officer of Hobsons, Inc., and brings more than 25 years of experience with building software products, R&D, and management consulting to the StreetShares team.
Rao notably stated he is looking forward to building and leveraging thoughtful and intuitive technology solutions to drive positive impact to the veteran entrepreneurial community, and enhancing StreetShares’ ability to provide fast, affordable, financing solutions to veterans. He added:
“I am truly thrilled to be joining StreetShares because of its fantastic leadership team and the mission-orientation of helping small businesses run by veterans and their families. This fintech space is ripe for disruption through the next generation of innovative products built on the StreetShares platform.”
The appointment of Rao comes just a few months after StreetShares secured $23 million during its Series B funding round, which was led by Rotunda Capital Partners, LLC, with participating from existing investors, including veteran-focused venture firm, Stony Lonesome Group. The company provides small business financing through small business loans, its Patriot Express Lines of Credit and government contractor financing.