Dan Macklin, co-founder of the personal finance startup SoFi, has decided to step down from his role of VP. But, he will be supporting the company by staying on the advisory role. He served as Vice President of Community and Member Success at SoFi. His last working day at the company will be 6th June.
The company was founded in 2011 by four Stanford students Mike Cagney, Dan Macklin, James Finnigan, and Ian Brady. The company provides an online personal finance platform that provides student loan refinancing, mortgages and personal loans. The vision of starting the company was that they could provide more affordable options for those taking on debt to fund their education.
The company takes a radical approach to lending and wealth management. The main of the company is to help their customers get ahead and find success and they provide from unprecedented products and tools to faster service and open conversations. The company helps their customers who are looking to buy a home, save money on student loans, ascend in their careers, or invest in the future. The company works to empower their members to accomplish the goals they set and achieve financial greatness as a result.
Commenting on the stepping down, Macklin said:
First of all, I would say it’s been a very difficult decision… To step away from SoFi — it’s a hard decision. I feel comfortable making that decision now given the shape we’re in. The company is in really great shape, so for me, it feels like the right time to make the switch
Macklin’s departure means Mike Cagney, SoFi’s CEO, is the last remaining founder of the company still working there.
In an email response to Venture Dreams, Cagney said:
I’m immensely grateful for everything Dan has contributed to SoFi since we founded the company together at Stanford, and he’ll continue to have a hand in helping us succeed in the future — including as a permanent ringer on the company soccer team
The company claims to have been working with more than 700 employers to help their employees with all aspects of their financial health but especially dealing with student debt. Along with that, at present, the company says to have more than 300K members and has underwritten more than $20 billion in loans. It’s also raised nearly $2 billion in outside funding and has about 1,000 employees.
Macklin was charged with managing the community and customer success at the company, which sees its member meetups and community events as a key differentiator against more traditional financial services businesses. Prior to that, he served as the company’s first VP of Business Development.
Macklin, while leaving the company, did not mention moving to another company, unlike former SoFi president and CFO Nino Fanlo, who left the FinTech earlier this month to move to a role at San Diego biotech Human Longevity Inc.