Digital Marketing Company for Small Business

Fintech Startup Next Insurance Hires Former Airbnb Executive as CFO

Fintech Startup Next Insurance Hires Former Airbnb Executive as CFO
Written by publishing team

Next Insurance Inc. , a startup that offers insurance to small business owners, has previously appointed Airbnb company

CEO as the next CFO.

The Palo Alto, California-based company said Teodora Juniva took over as chief financial officer last month after nearly two years as Vice President of Finance with Airbnb, where she oversaw funding for the company’s hosting, guest experiences and marketing departments. Prior to joining Airbnb, which went public in December 2020, she worked for 15 years in various senior positions at digital payments company PayPal. company ,

Including the position of CFO for Venmo and Braintree businesses.

Teodora Juniva has joined fintech company Next Insurance as Chief Financial Officer.


Photo:

Next Insurance Company

Next Insurance has raised $881 million from investors since its founding in 2016, including the most recent $250 million round in March that valued the company at $4 billion. CEO Jay Goldstein said the company had no immediate plans to pursue a public listing but said it might do so at a later date.

She said one of Ms. Juniva’s priorities in her new job is to assess the company’s accounting operations and to find ways to support its growth in the coming years. Next Insurance plans to expand by offering insurance policies tailored to new industries and by offering insurance through partnerships with program platforms whose clients include small businesses. For example, it currently offers insurance through Toast company ,

Restaurant software provider.

Next Insurance is one of several insurance startups aiming to digitize the industry by selling insurance directly to customers online. Large insurers that serve commercial clients often operate through agents and have not made their products accessible online throughout history, said Kimberly Harris-Ferrante, vice president and analyst at research and consulting firm Gartner. company

She said this business model suits large corporate clients, but small businesses often find it difficult to navigate.

She said startups like Next Insurance are catering to small business customers by offering digital products tailored to specific sectors, such as restaurants. “They recognized that small business owners look, feel and act as consumers,” said Ms. Harris-Ferrante.

It said the company, which has yet to turn a profit, made $650 million in gross written premiums in 2021, up from $200 million in 2020.

The company said Next Insurance has about 300,000 customers in all 50 US states and Washington, DC, more than double the number it had at the end of 2020. Last year it acquired digital insurer AP Intego for an undisclosed amount.

Ms. Juniva succeeded Michelle Cheung, who had been Next Insurance’s chief financial officer for nearly four years. Ms. Cheung now serves as the company’s CEO, leading its legal, human resources and operations divisions.

At Ms. Juniva, Next Insurance hired a CEO who worked in the financial function at companies that transitioned from fast-growing start-ups to established publics, said Michael Brown, general partner at venture capital firm Battery Ventures. The company was one of several investors, including Founders Circle Capital and FinTLV Ventures, that participated in Next Insurance’s funding round in March 2021.

write to Kristin Broughton at Kristin.Broughton@wsj.com

Copyright © 2022 Dow Jones & Company, Inc. all rights are save. 87990cbe856818d5eddac44c7b1cdeb8

.

About the author

publishing team