LENDY co-founder Liam Brooke has stepped down from a separate company he set up last year to provide wage advances.
Companies House documents show Brooke set up a firm called Copious Capital in July 2018 with Lendy chief operating officer Robert Kelly.
But records now show Brooke stepped down as a director at the beginning of July, a month after Lendy’s collapse.
Copious Capital’s launch product is Pay Me Today, described as an “antidote to payday lending,” which lets companies approve and arrange salary advances for staff who need access to money before payday.
Pay Me Today was based at the same offices as Lendy in Portsmouth until February 2019 when the firm relocated to Southampton.
The Pay Me Today website previously displayed Lendy as a client but this reference has disappeared.
Kelly – whose role at Lendy had been shrouded in mystery – had already stepped down as a director of Copious Capital at the end of April.
Both Brooke and Kelly also stepped down as directors of Pay Me Today at the beginning of July, Companies House documents show.
Pamela Guillamón, previously Lendy’s operations manager, is now the only director of Copious Capital and is listed as having significant control of the business.