Pawngo, The Nation's First Online Pawn Shop Appoints New CEO

Jim McHose Will Lead 2.0 Version of Pawning

Oct 31, 2013, 11:00 ET from Pawngo

DENVER, Oct. 31, 2013 /PRNewswire/ -- Launched in 2011, Pawngo, the leading online pawn lender in the United States, announced today Jim McHose has been appointed Chief Executive Officer. Venture-backed by Daylight Partners, Access Venture Partners and Lightbank (the $100 million dollar fund that was started by the founders of Groupon), Pawngo has loaned over $10 million since inception. The appointment of Mr. McHose, former Chief Financial Officer, signals a renewed focus on technology.

After a 10 year stint at KPMG, Jim started a new venture by becoming VP, Finance/Treasure at FrontierVision Partners L.P. After a few years, Jim left FrontierVision Partners L.P. and started work at Inflow as Executive Vice President / Chief Financial Officer, where he stayed for five years.  In 2006, Jim brought his skills to Jumping Jack Cash as Chief Financial Officer, where he orchestrated the Sale of its Colorado and Utah operations to publicly traded pawn shop operator EZCorp.  Thereafter, he co-founded Pawngo along with Todd Hills, the company's former CEO and now Chairman.

The Board of Directors unanimously agreed that McHose's unparalleled track record in Finance, technology, and product execution makes him the right leader for Pawngo at this time of enormous opportunity. Mr. McHose will assume direct responsibility for growth of the company and expansion of their services into various markets.

"I am thrilled that the board of directors is giving me the opportunity to lead this innovative platform with such a unique business model," stated Jim McHose, Pawngo's new CEO. "With my 20+ years of comprehensive finance, administration and executive experience, I believe my assets will be beneficial in helping Pawngo achieve our mission of becoming the de-facto online pawn lender and a go-to innovative source for non-credit based loans. While being with Pawngo from the start, and seeing this industry rapidly evolve, I know there is much more for us to achieve and my plan is to continue pushing pawning mainstream."

Pawngo is the first full-service online pawn shop in the US and allows individuals immediate access to the cash they need for life's countless unexpected moments without leaving the comfort of their homes.  As evidence of the market for this unique lending model, the company to-date has funded over $10 million in 48 states. Pawngo is venture-backed by Daylight Partners, Access Venture Partners and Lightbank, the $100 million fund started by the founders of Groupon.