Jeff Fonda is joining financial tech solutions company Nymbus as its new Chief Financial Officer.
Fonda brings a deep well of experience to the position, having expertise in fintech, SaaS, and executive-level leadership.
His experience includes VP of Finance at Mortgage Cadence, a cloud-based digital lending platform. He also spent many years in leadership positions for financial planning and analysis across several companies.
Prior to Nymbus, Fonda served as CFO of DotCom Therapy, a telehealth therapy company.
“Jeff’s proven track record in financial leadership at high-growth companies aligns perfectly with our mission. His expertise will be instrumental as we expand our partnerships with banks and credit unions, providing them with accessible solutions to move beyond the constraints of traditional banking systems,” said Jeffery Kendall, Chairman and CEO of Nymbus.
Nymbus markets itself as an alternative to legacy business models for banks that allow them to launch a full-service digital bank. It is undergoing new growth and changes in the wake of its $70 million series D funding round last year.
The funding is meant to be used to scale Nymbus’ various products and services, especially its core transaction processing engine and platform for commercial banking.
The company was founded in 2015 as tech-savvy Millennials and Zoomers began looking for online alternatives to traditional banks. Approximately 30% of Americans ages 25-34 now use online banks, making it an exciting sector for new investors and existing institutions willing to change with the times.
Fonda said he is excited to be joining Nymbus at this critical moment.
“Nymbus’ unique approach to reshaping the financial sector resonates deeply with my experience. The opportunity to assist banks and credit unions in transitioning to a more modern framework is exciting and significant,” he added.