Online peer-to-peer lender Funding Circle has expanded its asset finance intermediary development team with the appointment of Aristos Aristou as credit underwriter and Thomas Shave joining as business development executive.
Aristou has joined the company from ING, where he was a senior risk manager, having previously spent four years at Abbey National Business Finance.
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He said: "ING was a mainstay in the asset finance market and their exit means there is approximately £1 billion of funding for businesses that needs to be found. I am excited by the potential of Funding Circle to help fill this gap. I have been hugely impressed by the maturity of their credit assessment systems and policies, and the hungriness of the team".
Shave joined Funding Circle from Northern Trust, where he in business development, and he will now be responsible for building relationships with UK intermediaries.
He said: "The growth of Funding Circle over the last two years has been very impressive and it’s clear that the intermediary market now views peer-to-peer lending as a mainstream way for their clients to borrow."
In a statement, Funding Circle attributed the appointments to an "explosion" in demand for funding following the departure of ING, reporting that since Christmas it had received a 400% increase in asset finance enquiries and a 30% rise in intermediary registrations.
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