Bloomberg Law
Free Newsletter Sign Up
Login
BROWSE
Bloomberg Law
Welcome
Login
Advanced Search Go
Free Newsletter Sign Up

FinTech Startup Current Raids Shopify to Hire First Legal Chief

Sept. 17, 2021, 7:40 PM

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

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

Before Shopify, Golinsky was general counsel and chief compliance officer at credit card startup FS Card Inc. for four years. Prior to that she spent a year as U.S. deputy general counsel for Wonga Group Ltd., a now-defunct U.K. payday lender.

Current tripled its valuation this year after its most recent financing round topped the $131 million that the company raised in November 2020. Stuart Sopp, a former currency trader at Morgan Stanley, founded the New York-based financial technology company in 2015, and he currently serves as its CEO.

Current’s financial backers include the venture capital firm Andreessen Horowitz, music executive 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 fundraising, according to CNBC.

In 2019, Sopp accused Facebook Inc. of ripping off Current’s logo for its Calibra blockchain division, according to Bloomberg News. Facebook rebranded its Calibra unit to Novi last year to sound less like the Libra Association, a digital currency project supported by the company. Libra subsequently changed its name to Diem.

Current, which began as a debit card business, announced earlier this year that it’s looking to expand its operations into other areas of the fintech space.

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

Golinsky started her legal career as an associate at Davis Polk & Wardwell. She went on to spend more than a half-dozen years working for Mastercard Inc., where Golinsky was a vice president of regulatory and public policy counsel, prior to becoming chief prepaid counsel at American Express Co.

At Shopify, which has recently reshuffled its in-house legal leadership, Golinsky worked from New York and the Canadian company’s headquarters in Ottawa as a director and associate general counsel for financial solutions.

She helped Shopify build and scale its compliance and anti-money laundering team while assuming legal leadership at the company for accounts and cards, installments, lending, payments, and tax.

A Shopify partner, WeCommerce Holdings Ltd., announced Thursday its addition of general counsel Susan Min, a former global head of the risk and policy unit at the Goldman Sachs Group Inc. The Victoria, B.C.-based company went public last year and serves as a serial acquirer of applications servicing Shopify’s retail platform.

To contact the reporter on this story: Brian Baxter in New York at bbaxter@bloomberglaw.com

To contact the editor responsible for this story: Chris Opfer at copfer@bloomberglaw.com;
John Hughes in Washington at jhughes@bloombergindustry.com