Lithic Caps Monumental Year of 10x Growth with Appointment of New Chief Financial Officer

Former Bread and AMEX Executive Steven Goran Joins as Lithic Prepares for Robust Growth in 2022

NEW YORK, March 18, 2022 /PRNewswire/ -- Lithic, the fastest and easiest card issuing platform, today announced that it has named Steven Goran as Chief Financial Officer. Steven's appointment follows on the heels of a year that saw the company rebrand as Lithic, launch a highly anticipated, developer-first offering, and raise over $100 million in new capital. As CFO, Steven will have financial oversight of Lithic, including the accounting, controllership, reporting, financial planning & analysis, treasury, and tax functions.

"2021 was a monumental year for Lithic: we won the hearts of customers with our fast and flexible platform, added world-class investors, and laid the foundation for expected aggressive growth in 2022 and beyond," said Bo Jiang, CEO and co-founder of Lithic. "We have a huge opportunity in front of us and we're building a company for the long term. Steven is a phenomenal addition to our executive team."

Lithic grew out of Privacy.com, a platform for businesses and consumers to create single use, virtual cards for secure payments that launched in 2014. In the course of building Privacy.com, the team identified numerous needs that the third-party issuing platform they were using couldn't support. They built a set of issuing primitives, and then learned that other companies, especially developers, needed the same types of tools.

In 2021, the technology was ready and the product/market fit was clear. The company rebranded as Lithic, with Privacy.com operating as a subsidiary, and raised series B and C rounds totaling more than $100 million from top investors such as Bessemer Venture Partners, Index Ventures, and Stripes Group. Over the course of 2021, Lithic grew its monthly processing volume by 10x, won over 100 customers, and formed strategic partnerships with other fintech innovators like Canopy, Dwolla, Peach, and Sila.

Steven comes to Lithic with over 20 years of financial services and fintech experience. Most recently, Steven served as CFO at Bread, where he was instrumental in negotiating transformative partnerships with leading financial institutions including RBC and Fiserv, and ultimately the company's $500M+ sale to Alliance Data. Prior to Bread, Steven was SVP of Finance at Intersection, a media and technology company co-owned by Google's Sidewalk Labs. Prior to Intersection, Steven held numerous senior finance positions during his 14-year tenure at American Express, as well as investment banking roles at both CIBC and Bear Stearns.  

Steven joins an executive team of experienced builders and operators hired in 2021.

• Clarissa Horowitz, Head of Marketing, built and led marketing at Treasury Prime, BitGo, and MobileIron.
• Matt Janiga, General Counsel and Compliance Officer, previously part of the teams launching and scaling products at Square, Stripe and BlueVine.
• Charlie Kroll, Chief Revenue Officer, founded Andera (acquired by Bottomline Technologies) and co-founded Ellevest.
• Carleigh Lake, Head of Partnerships, was General Manager at MoneyLion and Director of Product at SoFi.
• Kamil Sindi, Head of Engineering, was Chief Technology Officer at RapidSoS and JW Player.
• Pritee Tembhekar, Head of Product, was a product lead at Plaid and Coinbase.
• Hebba Youssef, Head of People, led teams at Axios and MicroStrategy.

About Lithic
Founded by Bo Jiang, Jason Kruse, and David Nichols as Privacy.com in 2014, Lithic builds infrastructure that makes it simple to issue debit and credit cards. Designed for developers, Lithic's simple, powerful primitives deliver the speed, flexibility, compliance, and economics that companies need to build unique card products and create differentiated customer experiences.
Lithic is backed by Stripes, Bessemer Venture Partners, Index Ventures, Tusk Venture Partners, Rainfall Ventures, Teamworthy Ventures and Walkabout Ventures. For more information, visit www.lithic.com.

Media Contact:
Clarissa Horowitz
[email protected]

SOURCE Lithic