BY ALLISON PRANG
Blackbaud CEO Mike Gianoni has joined SnapCap’s advisory board, saying he will serve a “sounding board” for the small business financier’s directors and founder.
SnapCap is based in Charleston. It uses technology to streamline and accelerate the lending process for small businesses. Gianoni said a borrower could get a short-term loan in a couple days through SnapCap.
“Disruptive business models and disruptive technology can really make an inroad … in financial services,” he said Monday. “This is an interesting potentially extremely large and fast-growing opportunity for SnapCap and others to really disintermediate the banking system.”
He has previous experience in the financial services business. Before joining Daniel Island-based software maker Blackbaud early last year, Gianoni was a top executive at Fiserv Inc., which is a big supplier of mobile and online banking systems.
“We are very fortunate to welcome Mike as an adviser and leverage his experience, expertise and ideas on the intersection of technology and lending,” Hunter Stunzi, SnapCap co-founder and president, said in a written statement. “Mike will assist in guiding SnapCap’s strategic direction and help us better serve our customers, which is key to our ongoing growth and success.”
SnapCap’s board of directors includes Steven Swanson, who’s also an investor in the company. Swanson was a co-founder of Mount Pleasant-based Automated Trading Desk, which was sold to Citigroup.
Gianoni declined to say whether he’s an investor in SnapCap. His will advise the company in areas such as capital plans, corporate structure, finances, and mergers and acquisitions.
Reach Allison Prang at 937-5705 or follow her @AllisonPrang.