Interestingly, Martinez is returning to PayPal in a new global role after his two year stint at Funding Circle. Vipul Chhabra is stepping in to fill the role as interim managing director. Chhabra is Funding Circle’s Global Head of Data and Analytics and has been working in financial services for two decades spanning roles at Capital One and Citigroup.
Martinez provided the following statement as part of the news:
I’m extremely proud of my work with Funding Circle US over the past two years. Our goal has always been to support American small businesses—the backbone of the economy—and I can truly say that Funding Circle US is at the forefront of aiding small businesses, even in a historic crisis. While my time with Funding Circle US is coming to a close, I’m confident that the company and it’s leadership will continue to innovate and deliver for small business owners.
Interim managing director Vipul Chhabra had this to say:
Having launched our Paycheck Protection Program lending, this is a historic period for Funding Circle. I’m committed to our mission of supporting and funding American small businesses, which is as important today as it’s ever been.
Funding Circle is among the fintech lending leaders serving small businesses in the US. The company recently was approved by the SBA to issue loans under the Paycheck Protection Program. We continue to follow the work Funding Circle is doing closely and wish Martinez the best of luck in his new role at PayPal.