Growth Street commercial director joins NatWest

Growth Street’s commercial director Julie Ashmore has joined NatWest to head up its digital overdraft alternative Rapid Cash.

Ashmore worked at the peer-to-peer business lender from June 2018 until January 2020, according to her LinkedIn page.

During her time there she led an intensive review of sales process and structure, implemented significant changes and then assumed responsibility for the wider commercial function, her LinkedIn profile said.

She also played a key role in driving loanbook growth of more than 200 per cent in just 12 months.

Growth Street announced a restructure and layoffs at the end of last year which also included the departure of its founder and chief executive Greg Carter.

Prior to her tenure at Growth Street, Ashmore was head of small- and medium-sized enterprise (SME) lending at HSBC. She has over 30 years’ experience working within the SME banking and finance market. She also has her own consultancy and coaching business.

NatWest launched Rapid Cash to the SME market in 2019, as an overdraft alternative to help growing businesses manage cash flow. It provides businesses with an instant limit of up to £500,000 based on real time integration with accounting software.

Read more: More than 1,000 SMEs apply for finance during the Christmas holidays

“I have watched with interest over recent years as the banking and fintech worlds have come together to transform the SME lending market, by developing innovative alternatives through accessible and intuitive digital channels,” Ashmore said.

“I’m thrilled to be joining NatWest to lead the team at such an exciting time, and I am looking forward to working with our people and customers to make Rapid Cash the leading proposition of its kind for UK businesses.”