Funding Circle has begun advertising for a head of new products covering small- and medium-sized enterprise lending.
The peer-to-peer business lender revealed in its 2020 annual report that it was looking at rolling out a range of new products such as a credit card for borrowers, new strategic partnerships, and an application programming interface (API) to embed its loan applications on other platforms.
The job advert said the role will be to lead the development of new lending products
Applicants need 15 to 20 years of experience in payments and or cards as well as knowledge of growing income statements and building business units.
The platform, which is currently closed to new retail investors while it focuses on the government’s emergency lending schemes, said in its 2020 financial results that it will “leverage our technology to launch new funding solutions in the UK to help small business owners solve more problems” over the next 12 months.
“This includes an API to help embed Funding Circle into partners’ websites and platforms, a payment finance product to help them manage their cashflow challenges and a new card for Funding Circle borrowers to enable them to better manage their business spending habits,” the platform said.