2019 was another great year for the fintech market overalls but not all companies saw success in 2019; AltFi takes...
Marketplace lender Growth Street has hired two new executives to support its expansion plans; April Nardulli will join the firm as general counsel bringing experience from RateSetter; Chris Weller will be joining as commercial director to support commercial loan business development; launched in November 2016 the firm has originated over GBP54 million ($67.44 million) from business borrowers; the new appointments follow the recent hiring of James Sherwin-Smith as the firm's new chief executive officer. Source
P2P lending platform, Growth Street, has received registration as an appointed representative by the Financial Conduct Authority and will partner with Resolution Compliance; the new registration and partnership allow it to expand its product offerings to individual investors; the expansion of investors helps the company to offer loans to even more small and medium enterprises; the company primarily lends to businesses through its GrowthLine business overdraft product. Source
Growth Street has originated over $67.44 million since its launch in November 2016 with a new CEO and two new executive hires; the firm has now reported 600 new investors on the platform in the five months since its launch; Growth Street provides financing for UK SMEs; the short term financing options appear to be a factor attracting investors; the platform matches borrowers and lenders for 30 days and also allows investors to withdraw funds with notice of 30 days. Source
Growth Street has appointed Greg Carter to CEO; Carter is a founder of the firm and has been the firm's chief risk officer since its launch; Carter will replace James Sherwin-Smith who has been CEO since the firm launched in 2015; Growth Street is a UK lender focused on SME business lending; it markets returns of up to 6.5% and provides a range of business lending products including working capital loans of up to 500,000 British pounds ($623,763); in 2016 it reported loan originations of approximately 54 million British pounds ($67.37 million). Source