Former Airbnb finance executive Teodora Gouneva joins NEXT as CFO as company launches new mobile app and triples gross written premium run rate
NEXT Insurance, the leading digital insurtech company transforming small business insurance, announced the appointment of IPO veteran Teodora Gouneva as the company’s Chief Financial Officer, following another year of significant growth, innovation and business momentum. She steps into the role previously held by Michelle Cheung, who will now serve as NEXT’s first Chief Corporate Officer and will lead the company’s legal, people and operations functions. As CFO, Gouneva will drive the company’s financial operations and continue to scale its performance and management processes to further equip the company for sustainable growth. Gouneva joins NEXT after another year of milestones: the company tripled its gross written premium last year – reaching a $650 million run rate – and kicks off 2022 with the launch of a new mobile app.
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“I’m very excited to join the dedicated team at NEXT who truly cares about helping unlock the potential of entrepreneurs and small businesses everywhere, and I’m looking forward to building on the company’s achievements in 2022 and beyond,” Gouneva said. “I am passionate about how technology and innovation can improve and advance age-old industries that people rely on everyday. NEXT’s mission to transform small business insurance for the good of their customers aligns incredibly well with my interests and expertise,” Gouneva said.
Gouneva brings over 20 years of experience working in finance at major investment banks and hypergrowth technology companies, including PayPal and Airbnb where she supported their successful IPOs. She also has extensive acumen in M&A, equity and debt financing, international expansion and new product launches. As the VP of Finance at Airbnb, she built the business finance function and created performance and financial management processes needed to enable growth as a public company. Prior to Airbnb, she spent over 15 years at PayPal in various finance leadership roles, including CFO of acquired companies Venmo and Braintree.
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NEXT continues to innovate, launching a mobile app that provides customers with on-the-go access to their policies. Now available on the App Store and Google Play, NEXT’s mobile app allows customers to easily access and share certificates of insurance (COIs), manage their coverage and payments, file claims, and more. With more than half of NEXT’s direct customers accessing their online accounts from mobile devices, the new app will rise to the needs of today’s small business customers and make solving insurance needs even easier.
This news comes on the heels of yet another successful year for NEXT. In 2021, the company secured a $250 million funding round at a $4 billion valuation, received an “A- Excellent” rating from AM Best, launched a successful rebrand and more than doubled its headcount. Additionally, the company solidified a robust multi-channel acquisition model and today is one of the largest direct digital insurance providers for small businesses seeking out general liability insurance, workers comp, professional liability and more.
“We are thrilled to have Teodora join NEXT and her appointment marks a significant step in our journey towards scaling our business and becoming the number one insurance provider in the U.S. for small businesses,” said Guy Goldstein, CEO and co-founder of NEXT. “2021 was another incredible year at NEXT, and I could not be more proud of our team for making such significant and bold strides to support our mission to help entrepreneurs thrive. In 2022 we are determined to continue providing affordable, customized and accessible insurance coverage for our customers.”
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