Funding Circle, the UK’s biggest peer-to-peer lender, appointed Sean Glithero as the company’s chief financial officer.
The news follows a record start to the year for the company, with roughly £800 million lent globally in the first half of 2017.
Glithero comes from Auto Trader, the UK’s largest digital automotive marketplace, where he has been CFO since 2012.
Funding Circle, which targets small businesses, has lent over £3 billion globally since its inception in 2010, to 32,000 business across the UK, US and Europe. In May it was granted full authorisation by regulator the Financial Conduct Authority.
“Over the last seven years, Funding Circle has cemented its place as the leading platform for small business loans globally,” said Glithero. “Similar to Auto Trader, their business model is digital and data-led and they have a collaborative culture for deivering the best results for their employees, customers and investors,” he said.
In January Chancellor Philip Hammond praised Funding Circle as “a real success story,” after the lender secured £82 million in funding from investors Accel and £40 million from the state-owned British Business Bank.
“Our ambition is to build a better financial world by revolutionising the financial system and securing a better deal for everyone,” said Samir Desai, CEO and co-founder of Funding Cirlce. “Sean’s experience will be invaluable as we continue on the journey to creating a category-defining global company, helping thousands of small businesses access finance and create jobs, while providing investors with attractive stable returns on their investments,” he said.