Be Employee Number 3-6 at Loanio; They’re Hiring
If you counted Loanio out after issuing only $14k in P2P loans last fall, you’ll be surprised at this recent second wind. On Tuesday, they filed an S-1 with the SEC, and over the last few months, have been posting job listings for a Chief Operations Officer (COO), Chief Technical Officer (CTO), Chief Marketing Officer (CMO), and VP Finance.
The CTO role describes an engineering team that might be offshore. Not a huge stretch for a startup, especially one as cash-strapped as Loanio, but a tough decision for any young company. Other than that, none of the job listings is particularly revealing, especially in comparison with their S-1 (which has a ton of detail), but it looks like Loanio is trying to put in place a management team of six before they head out for venture capital. Along with founder and CEO Michael Solomon, they’ve already got a CFO, so the next hire would be employee number 3.
As described in their S-1, Loanio has been self-funded by Solomon (and possibly other angel investors) from the beginning, incurring over a quarter million dollars in expenses. As a result, all of the job listings state that Loanio is building its management team in anticipation of raising VC funding, and are looking for candidates who “understand and would be able to delay full salary for 4+ months, if necessary”. That’s a tall order in a recession like this one, but if you’re out of a job, it might just be worth your while.
Loanio is headquartered in Nanuet, New York, a small town about 20 minutes north of New York City. You can enjoy a historical and pictorial tour of the town online.
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