#145: Sean Salas, Co-Founder and CEO of Camino Financial, a FinTech Platform Pioneering Access to Affordable Credit to Underbanked Latinx Businesses, on Re-Living the American Dream, Raising $125M+ in Debt and Equity, and Building a Team of 50+

Aug 17, 2020

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Sean Salas is the CEO and Co-Founder of Camino Financial, a FinTech platform pioneering access to affordable credit to underbanked Latinx businesses. He is often featured as a commentator discussing FinTech and Latino entrepreneurship, including appearances on Univision, CNN, and Discovery Channel. Sean also sits on the board of two non-profit organizations, the US-Mexico Foundation and the Harvard Business School Latino Alumni Association (HBSLAA).

Sean co-founded Camino Financial with his twin brother, Kenny Salas. The twin brothers were raised by an entrepreneurial mother, who built and lost her business. While completing their MBAs at Harvard Business School, the twins co-founded Camino Financial under the notion of never leaving a small business owner behind. As CEO of Camino Financial, Sean has built a team of over 50 employees distributed globally and raised over $125 million in debt and equity.

Previously, Sean worked in private equity and investment banking. Throughout his experience, Sean oversaw four portfolio companies with combined revenue of over $250 million, invested close to $50 million in direct equity investments, and structured $1.2 billion in debt financings. Sean has a BA from UC Berkeley and an MBA from Harvard Business School.

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Some of the Topics Covered by Sean Salas in this Episode

Being the son of an immigrant entrepreneur
Moving back to Mexico from L.A. and growing up in Mazatlán
Re-living the "American dream" and starting his financial career during the 2008 financial crisis
Why Sean chose investment banking
Getting his MBA at Harvard and the connections and resources it provided him with
How Sean got his twin brother Kenny on board to start Camino Financial together
Getting traction while still at Harvard and taking a year to get their first 10 loans
Camino Financial's first loan
Funding the first loans and the challenge of getting access to capital at scale to grow the business
The catch 22 of lending
Going from a $1M to $100M facility
Creating a digital-only brand and becoming the largest digital lender in the space
Customer acquisition and the creative ways Sean worked to build trust within the community
How COVID has affected the community they serve and how Camino Financial has supported their members
The typical loan and borrower at Camino Financial
The factors Sean considered while building out a team of 50+ and the role Camino Financial's culture has played
How Sean recharges away from work
Sean's book recommendations

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