The House Crowd has appointed former FundingSecure director Carl Davies as chief operating officer.
Davies (pictured) joined The House Crowd on 2 January and has been tasked with improving processes and systems at the peer-to-peer property development lender, with chief executive and founder Frazer Fearnhead moving into a more strategic role.
While it is a full-time position, Davies is based in The House Crowd’s Manchester office three days a week.
“We have big plans for the platform,” he told Peer2Peer Finance News. “It’s about putting an institutional-grade credit policy in place.
“I also want to get a handle on any legacy issues in the loanbook. It’s about acting decisively and proving the model – it’s not only about recovery but also for curation, monitoring and underwriting processes.”
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Davies said that the team is “working very heavily” on securing institutional funding lines at the moment, as it looks to grow the business.
The House Crowd’s regional expertise in the property market will be appealing for institutional investors, he said.
“We’re in the scale-up stage, putting in more processes and systems,” he said. “I’m really excited about the next three years for The House Crowd.”
Davies has more than 35 years of extensive and varied industry and international experience. He started his career in sales and marketing roles at consumer goods giant Procter & Gamble and went on to run a management consultancy for 15 years in London and Chicago.
His first foray into the P2P sector was at P2P pawnbroker FundingSecure, which went into administration in October 2019. Davies was brought on to the board in October 2018 along with another experienced entrepreneur, Raj Kumar.