Branch, a Minneapolis-based fintech startup assisting hourly workers with financial wellness, recently expanded its executive team, hiring its first chief financial officer and general counsel.
Brian Whalen, Branch's new CFO, will oversee the company's finances, strategy and growth. Prior to joining Branch, Whalen was the co-founder and CFO of Blispay, which was acquired by Alliance Data Systems in 2019. He has also held the role of CFO at NetworkForGood and Global Credit for PayPal.
Smitha Mortis joins Branch from Klarna and will serve as the fintech company's general counsel. In this role, Mortis will lead Branch's legal and compliance strategies, providing guidance on a range of matters including regulation, corporate finance, partnerships and government affairs.
Both Whalen and Mortis will split their time between Branch's headquarters in Minneapolis and the D.C. metro area.
Founded in 2015, Branch helps hourly workers get ahead financially by allowing them to receive money, manage cash flow and spend earnings from their smartphone. The company has raised around $10.4 million to date in funding, according to Crunchbase. It was recently nominated for a Webby award.
Since the start of the COVID-19 outbreak, Branch has brought on over a dozen new team members and still has open positions. The entire company is currently working remotely.
Few companies have seen similar growth during the pandemic. When I Work, another Twin Cities tech company assisting hourly workers, said earlier this month that it cut 55 full-time employees, roughly 35% of its workforce.
Branch is also developing new partnerships to help hourly workers quickly access earned wages. Branch is working with Servant Systems to push same-day payments of tips, wages and mileage for Domino's employees so they can get paid after each shift.
"We continue to work with employers, many of whom are considered essential businesses, to provide faster payments to their employees," CEO Atif Siddiqi said in a statement.
