Benzinga | Jan 11, 2022 03:37PM EST

MX Technologies Names Interim CEO Ahead Of Potential Sale, IPO

Fintech MX Technologies has named Shane Evans as interim CEO as the company looks to prepare for an IPO or sale.

What Happened: MX helps institutions like Ally Financial Inc (NYSE:ALLY), Banco Bilbao Vizcaya Argentaria SA (NYSE:BBVA), and the National Bank of Canada (OTC:NTIOF), among smaller fintechs, create unique digital banking solutions, as well as provide customer-centric client services and marketing.

Evans, who succeeds founder Ryan Caldwell, is looking to position MX so that it best innovates and protects end consumers.

Caldwell will transition to executive chair and advise the executive team and board of directors.

"As President, Shane has worked extensively with the board and executive team to increase revenue, scale the business, and position MX as the leading financial data platform for organizations everywhere," said Ryan Caldwell, founder of MX. "I am confident that Shane is the right person to lead MX through this next phase of growth and category leadership."

Why It Matters: Evans, who was promoted to the company's president in 2021 after joining in 2019 as chief revenue officer, has helped establish MX as a market leader, scale sales and go-to-market teams, and more than double revenue.

"I am grateful for the opportunity to help lead MX through our next phase of growth, as we accelerate the business and help organizations unlock the power of financial data," Evans said.

"The MX Founders - Ryan Caldwell and Brandon Dewitt - have built an incredible culture and team, despite unprecedented health challenges for themselves and their families. We are grateful for Ryan Caldwell's continued strategic leadership moving forward as Executive Chair and stand committed to honoring their vision and legacy as we continue to build MX."