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Peer2Peer Finance News | August 18, 2019

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British Pearl backer Lord Fink joins modular homes company board

British Pearl backer Lord Fink joins modular homes company board
Marc Shoffman

BRITISH Pearl financial backer Lord Stanley Fink has been named as chairman of modular homes business Project Etopia.

Lord Fink, who was previously chief executive and deputy chairman of investment giant the Man Group and a former Conservative Party treasurer, led a £7m fundraise to help launch peer-to-peer property lender British Pearl last year.

He said he will use his chairmanship of Project Etopia to help make modular homes – which are constructed off-site and delivered to buyers – part of the solutions to the housing crisis.

Read more: How to do your own due diligence on a P2P property investment

“I remain utterly convinced that off-site construction will prove to be a major part of the solution to the housing shortage in Britain,” Lord Fink, chairman of Project Etopia, said.

“Project Etopia’s challenge will be to keep pace with demand and forge a path as a world leader in modern construction methods.

“By taking up the position of chairman I’m going to do everything in my power to ensure this team and this company fulfils its unique potential.”

British Pearl lets investors put as little as £100 into a property development company as either a P2P loan or by taking some equity through crowdfunding.

It raised £2m via crowdfunding on Seedrs last year.