Financial sector veteran Scott Rhode has been selected as the chief operating officer by Frisco-based Meritize, a provider of merit-based education financing solutions.
In his new role, Rhode plans to concentrate on growing Meritize’s finance and credit operations as it scales its model focused on financing skills-based education.
Meritize’s approach to education finance is based on an individual’s potential to succeed—not just on a credit score or similar measures, according to a statement.
“Despite growing interest in the potential of short-term, skills-based training among students, employers, and policy makers, financial access too often remains a barrier for learners who stand to benefit most,” Mertize CEO and founder Chris Keaveney said in a statement. “As we continue to scale this model and identify new markets where we can serve learners and employers, Scott’s deep expertise in finance, credit, and operations will enable us to extend our impact.”
Rhode brings more than 20 years of experience in various roles focused on operations, compliance, consumer credit, and risk management.
Most recently, Rhode was the founder and principal consultant at Lendwise Consulting, advising major banks and other financial institutions in recognizing and solving challenges related to operations, product, compliance, and risk.
He spent more than 14 years at Dell Financial Services, the division of Dell that provides consumer and small business loans to help finance technology products and services, according to a statement.
“From a career spent in consumer finance and credit, I know that, too often our industry has been forced to rely on binary measures of achievement and creditworthiness that can create artificial barriers for consumers. Meritize’s unique funding model considers more than just a credit score so that we can unlock access to educational and economic opportunity.” Rhode said in a statement.
Meritize hired its first CTO earlier this year
Last September, Kent Raymer was appointed as Meritize’s first chief technology officer to lead the development of the company’s tech platform by bridging the gap between job seekers, training providers, and employers, according to a statement.
This month, Meritize was ranked No. 3 among the 100 Fastest Growing Companies in Dallas for 2019 by Growjo, a Colorado-based research organization. Meritize has shown 36 percent employee growth and recently closed a $13.2 million Series A funding round and raised a total of $23.4 million in funding.
Meritize’s proprietary approach to education finance uses an individual’s academic, military, and work achievements to enhance their credit evaluation and improve financing options.
Meritize has expanded its skill-based hiring and finance platform to serve more than 6,000 students and trainees participating in over 1,200 in-demand training programs, according to a statement.
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