FinTech Startup Raids Shopify to Hire First Legal Chief


Finco Services Inc., a digital banking startup known as Current, hired Jodi Golinsky to be its general counsel after achieving unicorn status earlier this year.

Golinsky has spent the last three years at Shopify Inc., where she led a team of 12 employees who handled legal, compliance and strategy work for several of the e-commerce company’s product lines of business and all financial solutions and services, according to her LinkedIn profile.

Prior to Shopify, Golinsky was General Counsel and Chief Compliance Officer at the start-up of FS Card Inc. for four years. Previously, she spent a year as Deputy General Counsel in the United States for Wonga Group Ltd., a now defunct UK payday lender.

Current has tripled its valuation this year after its latest funding round surpassed the $ 131 million raised by the company in November 2020. Stuart Sopp, a former currency trader at Morgan Stanley, founded the financial technology firm based in New York in 2015, and he serves as CEO.

Current backers include venture capital firm Andreessen Horowitz, music director Scooter Braun’s venture capital firm, TQ Ventures LLC, and investment giants Avenir Corp. and Tiger Global Management LLC. Current was valued at $ 2.2 billion in April following a $ 220 million fundraiser, according to CNBC.

In 2019, Sopp accused Facebook Inc. of ripping Current’s logo for its blockchain division Calibra, according to Bloomberg News. Facebook renamed its Calibra unit in Novi last year to look less like the Libra Association, a company-backed digital currency project. Libra later changed their name to Diem.

Current, which started out as a debit card company, announced earlier this year that it was looking to expand its business into other areas of the fintech space.

Golinsky, who has two decades of financial services expertise, confirmed via email that she joined Current this month as the senior legal officer. She referred an investigation into her role to Current spokeswoman Erin Bruehl, who said law firm Goodwin Procter “continues to provide valuable legal services” to the company.

Golinsky began his legal career as a partner at Davis Polk & Wardwell. She then spent over half a dozen years working for Mastercard Inc., where Golinsky was vice president of regulatory and public policy advice, before becoming chief advisor of prepaid services at American Express Co.

At Shopify, which recently overhauled its in-house legal department, Golinsky worked out of New York and the Canadian company headquarters in Ottawa as a director and associate general counsel for financial solutions.

She helped Shopify build and grow its compliance and anti-money laundering team while taking on the company’s legal direction for accounts and cards, payouts, loans, payments and taxes. .

Shopify partner WeCommerce Holdings Ltd. announced on Thursday the addition of general counsel Susan Min, former global head of the risk and policy unit of Goldman Sachs Group Inc. The Victoria, Colombia-based company -British, went public last year and serves as a serial acquirer of apps serving Shopify’s retail platform.


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