Lithic Caps Year of 10x Growth with Appointment of New CFO
Lithic hires former Bread and AMEX Executive Steven Goran to help Lithic Prepare for Massive Growth in 2022.
Today we announced Steven Goran as Lithic's Chief Financial Officer. He will have financial oversight of Lithic, including the accounting, controllership, reporting, financial planning & analysis, treasury, and tax functions.
“2021 was a monumental year for Lithic: we won the hearts of customers with our fast and flexible platform, added world-class investors, and laid the foundation for expected aggressive growth in 2022 and beyond. We have a huge opportunity in front of us and we’re building a company for the long term. Steven is a phenomenal addition to our executive team.”
— Bo Jiang, CEO and co-founder of Lithic
Lithic grew out of Privacy.com, a platform for businesses and consumers to create single use, virtual cards for secure payments that launched in 2014. In the course of building Privacy.com, our team has identified numerous needs that the third-party issuing platform they were using couldn't support. We built a set of issuing primitives, and then learned that other companies, especially developers, needed the same types of tools.
In 2021, our technology was ready and the product/market fit was clear. We then rebranded as Lithic, with Privacy.com operating as a subsidiary, and raised series B and C rounds totaling more than $100 million from top investors such as Bessemer Venture Partners, Index Ventures, and Stripes Group. Over the course of 2021, our monthly processing volume grew by 10x, we won over 100 customers, and we formed strategic partnerships with other fintech innovators like Canopy, Dwolla, Peach, and Sila.
Read about us on TechCrunch: Privacy.com Rebrands to Lithic, Raises $43M for Virtual Payment Cards
Steven comes to Lithic with over 20 years of financial services and fintech experience:
- Most recently, Steven served as CFO at Bread, where he was instrumental in negotiating transformative partnerships with leading financial institutions including RBC and Fiserv, and ultimately the company’s $500M+ sale to Alliance Data.
- Prior to Bread, Steven was SVP of Finance at Intersection, a media and technology company co-owned by Google’s Sidewalk Labs.
- Prior to Intersection, Steven held numerous senior finance positions during his 14-year tenure at American Express, as well as investment banking roles at both CIBC and Bear Stearns.
Steven is the newest addition to the executive team of experienced builders and operators we hired in 2021:
- Clarissa Horowitz, Head of Marketing, built and led marketing at Treasury Prime, BitGo, and MobileIron.
- Matt Janiga, General Counsel and Compliance Officer, previously part of the teams launching and scaling products at Square, Stripe and BlueVine.
- Charlie Kroll, Chief Revenue Officer, founded Andera (acquired by Bottomline Technologies) and co-founded Ellevest.
- Carleigh Lake, Head of Partnerships, was General Manager at MoneyLion and Director of Product at SoFi.
- Kamil Sindi, Head of Engineering, was Chief Technology Officer at RapidSoS and JW Player.
- Pritee Tembhekar, Head of Product, was a product lead at Plaid and Coinbase.
- Hebba Youssef, Head of People, led teams at Axios and MicroStrategy.
About Lithic
Founded by Bo Jiang, Jason Kruse, and David Nichols as Privacy.com in 2014, Lithic builds infrastructure that makes it simple to issue debit and credit cards. Designed for developers, Lithic’s simple, powerful primitives deliver the speed, flexibility, compliance, and economics that companies need to build unique card products and create differentiated customer experiences.
Lithic is backed by Stripes, Bessemer Venture Partners, Index Ventures, Tusk Venture Partners, Rainfall Ventures, Teamworthy Ventures and Walkabout Ventures. For more information, visit www.lithic.com.
