Klover, a Chicago fintech startup that's creating a new way for consumers to access loans, has hired an executive away from Pinterest as it builds out its C-Suite.
Klover said Monday that it has hired Meredith Guerriero as its chief operating officer. Guerriero has spent the last four years at Pinterest, where she was VP of sales and partnerships. Before that, Guerriero spent two years as a director at Facebook and a decade at Google.
Founded in 2019 and led by Brian Mandelbaum, Klover offers interest-free loans in exchange for data on your spending history. Instead of the traditional interest required by a loan provider, the startup asks for access to your bank transactions and serves you ads from brands based on how you spend. It works with brands like Wayfair, DoorDash and GoodRx, serving users ads based on their financial habits.
The company, which was one of Chicago Inno's 22 Startups to Watch in 2022, says its plan is to become a full-service bank, offering traditional online baking services along with tech tools like the ability to get your tax return early in monthly installments.
Since it launched, Klover has grown to 3 million users.
Earlier this year, the startup raised a $60 million Series A round from Mercato Partners Traverse Fund, along with Chicago-based funds Lightbank, Starting Line and Motivate Ventures.
