Crowd2Fund strengthens board to support next phase of growth
Crowd2Fund has bolstered its board to introduce “a more robust governance structure” and support its next stage of growth.
The peer-to-peer business lending platform has named significant shareholders Mahmood Yusuf and Asoz Rashid as non-executive directors, alongside Hussain Qaragholi, the former managing director of Deutsche Bank.
Crowd2Fund said it is set to announce another non-executive director and a chairperson soon. It is also expected that one of the non-executive directors will become an executive director in due course.
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Rashid is currently chief executive of iQ, one of Iraq’s largest technology companies, and was previously a diplomatic delegate to the World Trade Organisation.
Qaragholi is a finance professional with 20 years of experience in corporate finance and investment banking. He is a senior adviser to the International Finance Corporation on renewable energy infrastructure, manufacturing and fintech.
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“Hussain’s finance experience and connectivity with investors and key decision makers will help guide the platform and embrace the international opportunities made available as we deploy the state-of-the-art fintech capability,” Crowd2Fund said in a blog post on its website.
Yusuf is a chartered accountant and has business experience in construction, energy, manufacturing, infrastructure and real estate. Yusuf, who is a director for a major shareholder, was instrumental in the initial review and subsequent investment in Crowd2Fund.
“His accounting expertise as well as real-world business experience will bring a seasoned and multi-faceted view to the Crowd2Fund board,” Crowd2Fund said.
The P2P business lender said that the remit of the board is to ensure the company’s prosperity by collectively directing its affairs, while satisfying the interests of its stakeholders.
“I am totally delighted to have reached this important milestone,” said Chris Hancock, founder and chief executive.
“The appointment of this amazing senior talent at board level puts the platform on the right footing for the next phase of its growth, while embracing the challenge to mobilise private capital en masse to help drive economic growth.
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“Our proven investment methodology can help power economic growth while operating in a high inflation environment successfully, alongside the more traditional financial sector.”
Crowd2Fund has funded more than £45m of loans to over 600 businesses since launching in 2014. Investors have received average annual returns of more than six per cent, which can be held in an Innovative Finance ISA.