Propel Finance, a UK asset finance lender, announced the appointment of Mike Quinn as Director of Technology Finance – effective immediately.
Mike will oversee Propel’s relationships with its technology equipment distributors and vendors to support their channel growth and finance propositions. Mike will also lead Propel’s technology innovation into the wider B2B finance ecosystem, which is expected to see significant growth over the coming years as businesses follow the consumer trends in wanting to access lending solutions at their convenience, through point-of-sale digital finance.
According to a statement by the company, Propel has achieved a remarkable growth of over 300 per cent in the past three years; and was recently ranked as the fastest-growing asset finance company in the UK for the second year-running by Asset Finance UK 50. Central to this rapid growth and ability to scale has been Propeller, Propel’s proprietary digital technology platform which integrates with partners to enable small and medium-sized businesses to access finance for equipment purchases of all shapes and sizes, quickly and conveniently.
Propel is also putting the finishing touches to its PropelPay proposition – a groundbreaking integrated Fintech solution that will provide OEMs, marketplaces, distributors, vendors and merchants an innovative, fully digital asset finance payment option for SMEs at webshop checkout. Mike will lead Propel’s vendor team, he will develop the firm’s partnerships and reach within the B2B technology finance ecosystem that is set for material growth, and aims to transform SME access to finance at point-of-sale for business-critical equipment through ‘embedded finance’ solutions.
Prior to joining Propel, Mike most recently held the role of Head of Technology Solutions Business Unit at BNP Paribas Leasing Solutions where he was previously Head of Credit and Risk Director. He has also held senior positions at VIP Apps Consulting and GE Capital.
Mark Catton, CEO of Propel Finance, said, “Mike enjoys an outstanding reputation across the technology finance industry; and I’m delighted he’s chosen to join us. Of our team of almost 200 ‘propellers’, more than 40 are dedicated to technology, data and digital innovation. I look forward to Mike bringing his leadership and experience towards developing our many existing and new partnerships with OEMs, distributors, vendors and other platforms; and ensuring Propel is an important part of the finance ecosystem and B2B embedded finance solutions.”
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“This appointment reinforces Propel’s standing in tech-driven SME asset finance solutions, following on from our landmark partnerships struck with Barclays Business Banking, Azets and Samsung Capital. Propel’s unique human-digital approach continues to boost investment and growth amid challenging economic conditions.”
Mike Quinn, Director of Technology Finance at Propel Finance, said, “I’ve long admired Propel’s distinctive approach to asset finance. I can’t wait to use my knowledge and experience within the tech finance sector to grow the company’s vendor business and ensure it continues to capitalise on its success.”