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Shane Evans, the interim CEO of the fintech MX.
Courtesy of MX/PR Newswire
MX, a fintech start-up that is expected to go public or sell, named an interim CEO on Tuesday.
Shane Evans succeeds MX co-founder Ryan Caldwell, who will become executive chairman of the start-up, a statement said. Caldwell will continue to advise MX’s executive team and board on go-to-market, product development, and long-term business growth.
Evans joined MX in 2019 as its first chief revenue officer and was promoted to president in 2021. He also spent five years at
Qualtrics
,
which was sold to
SAP
(ticker: SAP) for $8 billion in 2019 and then spun off last year in an IPO.
“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 in the statement.
Founded in 2010, MX is a technology platform that helps banks and fintechs connect and act on consumer and small-business financial data. Fintechs and banks pay to use MX’s technology to connect to consumer banking data. MX, of Lehi, Utah, employs more than 700 people.
In August, Barron’s reported that MX had hired
Goldman Sachs
to handle interest from potential suitors, including payments and large technology providers like
Fiserv
(FISV). Special purpose acquisition companies, or SPACs, had made offers to buy the start-up as well. MX could sell for more than $5 billion, according to the report.
Late last year, MX lost one of its co-founders. Brandon Dewitt, who also served as chief technology officer, died in November from salivary cancer. He was 38. Some believed that Dewitt’s passing could put a damper on any sales or IPO discussions.
The fintech, however, is still considering all options, including an IPO or a sale, according to a person familiar with the situation. “Any of those things can happen, and nothing is imminent,” the person said.
Write to Luisa Beltran at luisa.beltran@dowjones.com
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