Back in 2009, with a law degree in hand along with a smattering of frontline consulting experience, Jennifer Loo swung open the door at LegalZoom—where in short order she was tasked with architecting the fast-growing company’s FP&A function from the ground up.
For Loo, the responsibilities that would quickly surface at LegalZoom did not necessarily fit any single qualification that she may have been fortunate enough to possess; instead, it was as though they all were demanding that her entire career path rise to meet her, bringing with it her education, distinct capabilities, and potential. Suddenly, her diverse background, bridging the analytical rigor of consulting with the strategic nuance of legal training, made her uniquely equipped for the challenges of shaping a nascent finance function in a fast-evolving company.
Meanwhile, Loo tells us, she benefited from a CFO mentor who demonstrated faith in her potential to spearhead such a critical undertaking. In her ascent, CFO Loo proved that when you’re ready to embrace your unique path, indeed, the road will usually rise to meet you. –Jack Sweeney jb
CFOTL: Tell us about Tala … what does this company do, and what are its offerings today?
Loo: Early in my career, I was fortunate enough to be exposed to a business that really believed in doing good while doing well—in solving problems bigger than just the top and bottom lines. I’ve worked in four companies and four industries during the past 15 years, and the only common thread that I would say that these companies had was the fact that they were solving big problems.
As self-serving as it may seem, I will say, hands down, that I have not seen one company more audacious about this than Tala. Internally, we say that we are building the financial platform for the global majority—or, in other words, the 4 billion or so people who are consistently overlooked and underserved by existing systems. These are not the poorest of the poor, who are often served by governments and NGOs. They are not the middle-class-plus, on whom existing or traditional financial institutions typically focus. They are really this giant middle segment, whose economic power totals $10 trillion.
This is our sector. We deliver critical financial services, things that are so fundamental to most of us that sometimes we take them for granted. Our cornerstone offering is really a credit product. We provide quick, instant access, underwritten via a mobile app using machine learning—and we’ve constantly been adding to this. We’ve really been building a financial platform that includes features like savings and transaction capabilities, which just help to make our customers’ day-to-day financial lives a little easier and a little better. We are currently functioning in Kenya, the Philippines, Mexico, and India, and we expect to go far beyond these. jb
“‘What got you here won’t get you there.‘ You should wake up every day looking ahead to where you want to be—either you personally, or your company, or both. It’s important to ensure that you are building the skills, networks, and perspectives necessary to climb that next mountain.” –Jennifer Loo, CFO, Tala