Investec Asset Finance has appointed Paul Cunningham head of Quantum Funding, Investec’s subsidiary responsible for providing asset finance to small and medium-sized enterprises (SMEs) and corporates.

Cunningham joins Investec from Bibby Financial Services, where he led the invoice finance team for London and the South East.

He has more than 18 years’ experience in asset based lending, invoice finance, receivables and portfolio funding, having held a number of senior positions within asset finance.

Investec hopes this appointment will help grow Quantum and support SMEs through expanding lending through the broker intermediary channel.

Quantum was founded in February 2015, and has grown to have 130 brokers, and lend £25m to more than 2,500 SMEs.

Andy Hart, head of Investec Asset Finance Group, said: “We are very pleased to have Paul on board. He is a great cultural fit for our business and his skills and experience in asset finance will help support our growth ambitions and strategy.”

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Cunningham said: “I am delighted to join Quantum as the business moves into a new stage of growth. I am excited to be working alongside the existing team, who have done a brilliant job in growing Quantum into a successful and profitable platform for Investec.

“I am confident that with the continued support of our brokers, we will strengthen our lending to the SME market.”