Marlette Funding, LLC, recently appointed Marshall Lux as an advisor to its board of directors and company. Marlette Funding is the parent company of Best Egg, which is a lending platform that offers unsecured personal loans.
What Lux Will Bring to Marlette
Jeffrey Meiler, chief executive officer of Marlette Funding, said Lux’s considerable experience in financial services and his expertise in the consumer market make him a good fit for the company.
“He also brings a valuable perspective to our board around new product innovation that can disrupt various markets,” Meiler added in a press release.
Lux brings 30 years of experience as a financial services practitioner and consultant. His career began at McKinsey & Company, working with financial service firms in numerous sectors. He also led McKinsey’s private equity practice. He served as Chase Bank’s chief risk officer, dealing with consumer products during the financial crisis. He was also a senior partner with Boston Consulting Group, helping build the firm’s private equity practice. He is currently a senior fellow at Harvard’s Kennedy School Mossavar-Rahmani Center for Business and Government.
“I am impressed with Best Egg’s focus on customer experience, API-centric technology stack and the year over year consistent, strong performance – the platform is clearly outpacing the industry at large,” Lux said in a press release. “I look forward to working with Marlette Funding’s executive team and board to maximize the company’s full potential.”
More About Marlette Funding and Best Egg
Lux’s appointment follows recent announcements by Best Egg and Marlette Funding. In January, Mark Elbaum was appointed by Marlette Funding as chief financial officer (CFO). In addition, Best Egg had recently ranked No. 5 on American Banker’s list of the Top 20 Best Fintechs to Work For. Meiler attributed the honor to the company’s incredible team and commitment to success.
Best Egg is a lending platform aimed at helping borrowers with good creditapply for and receive unsecured personal loans. Its mission is it present its loan terms in a manner that’s easy for consumers to understand, and it strives to offer competitive interest rates. Its personal loans come with fixed APRs and no prepayment penalties. Loans can be funded in as soon as a business day, according to its website.
Since launching in 2014, over 450,000 consumers have been funded with over $6.5 billion in Best Egg loans. Additionally, they’re coming off of one of their largest securitization transactions to date.
Author: Mike Brown
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