Blue Ash-based Coterie, an insurance startup that uses tech to provide instant coverage for small businesses, is adding to its C-suite for the fifth time in four months, this time with the hire of the company’s first chief financial officer.
Coterie announced Thursday the hire of Marc Frenkel, most recently chief operating officer at FinLync, a global fintech with offices in New York, Los Angeles and Singapore.
As CFO, he’ll lead Coterie’s finance organization including controllership, financial planning and analysis, accounting, tax and internal audit as well as Coterie’s people operations and security functions.
The hire comes as Coterie continues to scale operations and grow its leadership team.
Since November, the startup has added five C-suite positions, including a chief growth officer, chief operations officer, chief data officer, chief technology officer and chief insurance officer.
Frenkel will report directly to Coterie CEO David McFarland.
“Coterie has grown to the stage where we need an experienced financial leader who understands the complexities of startups and insurance,” McFarland said in a release. “We’re excited to add Marc’s skillset to the team to elevate how we strategically incorporate finance as we improve the commercial insurance space.”
Frenkel, who will remain based in the greater New York City area, has more than 16 years of experience managing financial operations and executing capital market transactions for various companies.
Besides FinLync, he served as VP of finance at New York-based insurer AmTrust Financial. Frenkel began his career as an investment banker at Rothschild.
He holds a bachelor of science in economics from the Wharton School at the University of Pennsylvania.
Coterie, founded in 2018 by McFarland, Tim Metzner and Kevin Mackey, uses tech and data to deliver simpler insurance solutions – including owners' policies, general liability insurance and professional liability insurance – to small businesses, contractors and gig workers.
Agents can quote and issue policies faster via Coterie's portal, and its API integrates into existing platforms like Intuit Quickbooks and Thryv.
The company had a red-hot 2021, raising two rounds of capital, including a $50 million Series B, pushing its funding total to $73.12 million. Those raises helped buoy Coterie to No. 9 on the Courier's list of best-funded startups.
The company currently employs 135.
