FinanceApp, a private label vendor finance platform, announced the addition of Dan Michalek as the company’s new chief executive officer. As the founder of PayNet, Michalek brings decades of finance and business lending experience to the table.

Michalek is a seasoned technology leader and a serial entrepreneur, having started multiple companies with over 25 years’ experience in the greater equipment leasing and data marketplaces. His startup acumen comes from the ability to recognize patterns, solve problems and create innovative business opportunities. Most recently, Michalek served as founder and CEO of OpenMarkets, a rapidly growing technology company that is reinventing the healthcare equipment marketplace with an emphasis on data, collaboration and simplicity.

Prior to this, Michalek was CEO and founder of PayNet, a highly successful data analytics company which has transformed the equipment leasing and banking industry through better data and decisioning. The company amassed the richest and largest database of commercial loans and leases, encompassing more than 14 million current and historic contracts worth over $645 billion. Today, PayNet is considered to be the leading provider of credit ratings on small businesses, enabling lenders to achieve optimal risk management, growth and operational efficiencies.

Prior to PayNet, Michalek founded Connor Capital which set up captive finance divisions for equipment manufacturers and distributors.

Commenting on the appointment, FinanceApp Founder Chad Hutchison said: “We spent a great deal of time fielding candidates for this position, but Dan was by far the most qualified. He has a proven track record of strong leadership and an in-depth knowledge of the equipment financing market. Additionally, given his background and achievements, we felt he would be able to quickly assimilate and hit the ground running, something that’s absolutely essential in such a fast-paced, competitive field.”

“I am really excited to come onboard,” said Michalek. “I truly believe in what FinanceApp is doing to revolutionize and transform the industry and I am committed to leading that charge through ongoing innovation, creativity and positive change.”

As CEO of FinanceApp, Michalek will lead the strategic growth vision for the company with overall responsibility for all facets of the business. Dan assumes this new position immediately.

FinanceApp is a cloud based sales and lending platform that enables businesses of any size to offer, track and service monthly payment options for their customers. Their cutting-edge, automated technology helps companies attract more business and convert more deals by offering creative and affordable financing options.