THINCATS has hired a former banking executive as its new chief development officer, to grow the peer-to-peer platform’s loan book and increase its network of sponsors across the UK.
Damon Walford (pictured) started his career at HSBC, before moving on to invoice finance roles at RBS. He then spent four years as managing director of invoice finance at challenger bank Aldermore.
He will be working alongside ThinCats’ chief executive John Mould to help grow the existing business and capitalise on new opportunities, with a particular focus on originating loans and attracting more sponsors, the lender said.
ThinCats reached a new milestone earlier this month and has now lent out more than £200m to small businesses. Its sponsors act as a first point of contact for potential borrowers. They are financial services professionals who assess the business proposals, vet loan applications and send a detailed, objective report for investors to see at the start of the auction, in return for a fee.
Walford said: “After many years working within more traditional lending environments, it’s hugely exciting to be part of this fast-developing sector.
“I want ThinCats to be the first port of call for SMEs in search of finance and I hope my experience can help sustain its position as Europe’s largest secured peer-to-peer platform.”
Kevin Caley, chairman and founder of ThinCats, said: “Damon is a fantastic appointment and brings a vast amount of expertise to the role.
“His experience consulting and working within high-street lenders and challenger banks will be hugely valuable in driving ThinCats forward and enriching our offering for lenders and borrowers.”