LendingCrowd records post-Brexit boost

LendingCrowd records post-Brexit boost

LendingCrowd, an alternative finance provider for SMEs in Scotland, has recorded a steep increase in deal activity during July, creating a strong start to Q3.

In response to lower interest rate forecasts, the company is also experiencing greater investor interest in its platform both in Scotland and across the UK. 

CEO Stuart Lunn said: “Deal activity reached record levels during July, with a definite post-Brexit effect in the corporate dealmaking market following on from June’s EU referendum.  What is also noteworthy, on the back of widely predicted interest rate cuts, is that more investors are signing up to invest on the platform.” 

LendingCrowd has also made an appointment in response to its recent success, with Michael Allan joining as director of operations, joining from IT analytics specialist Sumerian where he was most recently COO. 

Stuart Lunn said: “Michael’s appointment is great news for the business as we enter our next phase of growth, bringing experience of building an excellent team, product development and scaling the business over many successful years at Sumerian.”

Since launching in 2014, LendingCrowd has facilitated loans totalling over £6m and has over 2,000 investors signed up to its platform.  Deals range in size from £20,000 to over £1m.

In 2015, LendingCrowd helped Diet Chef complete one of the biggest ever peer-to-business deals seen in the UK in a £1.5m debt finance transaction.

 

 

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