ARCHOVER has opened a Birmingham office to support clients across the Midlands.
The peer-to-peer business lender said on Monday that it has appointed experienced corporate finance and investment banker David Newton to run the new office, which is part of the firm’s plans for nationwide expansion.
Newton began his career as a chartered accountant at Ernst & Young before undertaking a corporate finance and investment banking career in London, specialising in the provision of finance for small-and medium-sized enterprises (SMEs).
“Birmingham will soon be connected with 5G, will host the Commonwealth Games in 2022, and the city’s council has revealed that 2017 saw an 11 per cent increase in new business openings,” Newton said.
“It is a hotbed of innovation and among the top cities in the UK for job creation.
“Enabling local SMEs to access the funding they need to grow through ArchOver will boost an already thriving business landscape. I’m excited to be part of that process, and am delighted to be supported by such a strong ArchOver team in London.”
It comes as ArchOver – which has provided more than £80m of funding for UK businesses – recently launched an auto-lend product for investors.
“This is the first step on the road to national expansion for ArchOver,” Dent said.
“We have long supported Midlands SMEs that struggled to secure traditional finance, so opening our first regional office in Birmingham was a natural choice.
“The region’s many businesses in the manufacturing and supply chain sectors will also enable us to grow our strong portfolio of SMEs in these industries.”