CHICAGO, April 19, 2017 /PRNewswire/ -- Bento for Business, a leading provider of employee expense management solutions for small businesses, announced the appointment of Lou Friedmann to the role of Chief Revenue Officer. Friedmann will oversee all customer acquisition and activation objectives at the high-growth firm.
Friedmann brings a proven track record of building online brands with successful acquisition programs and channel partnerships to Bento's fast-growing business model.
A highly regarded growth marketer, Friedmann has held senior leadership positions at a number of Chicago's fastest growing companies over the past 20 years. He comes to Bento from Insureon, the leading online agency for small business insurance, where he served as Senior Vice President of Marketing and Strategic Partnerships. Friedmann's leadership at Insureon helped the company achieve over 1,700% revenue growth over five years, while building its customer base to more than 175,000 small businesses—ranking Insureon in the Inc. 5000 list of America's fastest-growing private companies and raising $31 million in new funding led by Accretive and Oak HC/FT.
Prior to Insureon, Friedmann led marketing for seven years at optionsXpress, from founding to IPO and later acquired by Charles Schwab. Under his leadership, the firm boasted faster and more cost-effective client acquisitions than any other online brokerage, earning a place on the Inc. 5000 list, ranked as one of Barron's top 5 brokers for 10 years. Before optionsXpress, he helped build ClientBase into the premier CRM for the travel industry, later acquired by Sabre.
"We are thrilled to welcome Lou to the Bento family," said Farhan Ahmad, Founder & CEO of Bento for Business. "Lou is one of those rare individuals who has successfully built multiple brands from inception to phenomenal levels of success. Lou shares my passion for small business and is the ideal choice to drive our strategic growth initiatives as we expand the availability of expense management solutions to the underserved small business community across America."
Friedmann said, "Timing is everything, and now is an incredible moment to be joining Bento. The payments industry is an exciting area of fintech innovation and Bento has built an incredible platform and reputation. The potential for growth is extraordinary at Bento, and I look forward to the challenge."
About Bento for Business Bento for Business provides financial management solutions that fit small businesses, combining the security of a bank with the ease and convenience of a modern payments technology company. The first product on the Bento platform, the Bento Prepaid Commercial Mastercard®, provides small business owners with easy expense controls and better cost management features than more expensive and cumbersome enterprise budget management solutions. The company's founders have their roots in large financial services firms such as Barclays, JPMorgan Chase, Blackhawk Network, and Discover Card. Based in San Francisco and Chicago, Bento is backed by leading venture capitalists and industry veterans.