Fundbox, the leading embedded working capital platform for small businesses, announces Ram Muthaiyan as new Chief Risk & Product Officer.
Muthaiyan is joining Fundbox from Zip US, where he served as Chief Risk Officer & General Manager. While at Zip US, Muthaiyan enhanced risk assessment capabilities and developed industry-leading product features, driving the business to profitable growth. Prior to Zip, Ram was Managing Director at JPMorgan Chase, where he spent 17 years leading and managing a variety of functions, including consumer and small business lending, payments, marketing analytics, and strategic initiatives.
Fundbox has connected with over 500,000 small businesses, both directly and through embedded relationships with platform partners. Fundbox combines robust APIs, industry-leading machine learning models, and cycle-tested credit underwriting capabilities to create a seamless experience for its partners and the small businesses they serve. “The number of US small businesses grew 3X faster than the US consumer population in the last decade,” said Prashant Fuloria, Fundbox CEO. “The pandemic catalyzed a 50% increase in the rate of formation of small businesses with payroll. Meanwhile bank funding for SMBs has fallen 15% year-over-year. Small businesses need capital more than ever before.”
Fuloria continued, “We are focused on serving small businesses through embedded experiences in the digital tools they already use today. Ram’s leadership and expertise will help us deliver on that goal. He is a builder who understands the intersection of product experiences and risk management. We are excited to welcome Ram to the team.”
“Despite the digital evolution in recent years, small businesses still struggle with accessing capital in a fragmented lending market,” said Muthaiyan. “Joining Fundbox presents an unparalleled opportunity to merge my passion of delivering seamless credit and payment experiences with a forward-thinking team dedicated to empowering small business owners. I’m thrilled to be a part of a company that combines cutting-edge technology with rigorous risk management, setting the stage for transformative growth.”
Muthaiyan joins a vibrant team of Fundbox employees across San Francisco, Dallas, New York, Tel Aviv, and Tbilisi.
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