River SaaS Capital has snagged a new chief investment officer from startup lender JumpStart, a new executive that will manage loan portfolios.
Wendy Jarchow joined Cleveland-based River SaaS, also a startup financier, the firm announced Thursday (30 June). Alongside overseeing loans, Jarchow will be a liaison between investors, the statement said.
Before joining River SaaS, Jarchow served as a venture capital partner at JumpStart, also based in Cleveland, where she helped startups draw up funding strategies and secure the necessary capital. Before her tenure at JumpStart, she worked at the Case Reserve Western University's School of Medicine and at Chrysalis Ventures.
A representative for River SaaS was not available for comment.
River SaaS is a new kid on the block in venture capital debt financing. River Capital Finance announced in April it would be launching a company to provide capital to software-as-a-service (SaaS) businesses.
“”I reached out to some of my peers with extensive technology and finance experience, developed a business model, and created the business,” River SaaS president Matt Kennedy said in the statement announcing the firm's launch.
River SaaS sells its services as a way for young companies to obtain money for growth or finance other business operations. Current investments include a loan to Banyan Technologies, a company offering cloud computing services targeted at freight movers.