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Peer2Peer Finance News | September 18, 2019

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Blend Network expands lending team

Blend Network expands lending team
Marc Shoffman

Blend Network has boosted its lending team with two new appointments.

The peer-to-peer property lending platform has named Daniel Netzer as lending manager and Morgan Sparrow as lending associate.

This follows the appointment of Paul Watson as head of origination in January.

Netzer brings a 10-year track record of working for various firms across residential and commercial property sales and asset management, including experience in distressed assets, fund management of residential income portfolios, new acquisitions, and development management.

The platform said he also brings experience of the property market outside of London, where Blend Network is focusing its activities.

Sparrow previously worked for property recruitment consultant firm GKR and holds a BSc in Real Estate Management from Oxford Brookes University, with internships at JLL and CBRE.

Read more: Blend Network secures £10m of seed funding

“Despite ongoing economic uncertainty, we continue to see incredible demand from very experienced property developers who are looking to build more affordable homes in high-growth pockets across the country,” Yann Murciano, chief executive at Blend Network, said.

“Yet unfortunately most high-street banks have been retrenching from development finance, leaving those small- and medium-sized property developers underserviced.

“We are delighted to welcome Daniel and Morgan to our growing lending team. They both have a breadth and depth of experience across real estate sectors as well as extensive sales and business development expertise, which will significantly help us scale our deal pipeline.

“Their appointment will help us accelerate the acquisition of new borrowers as well as enhance our origination capabilities to service existing customers on the platform.”

Read more: Blend Network launches with vow to be the “Goldman Sachs of P2P”