Growth Street, an online lender focusing on SME loans, has announced that founder Greg Carter has assumed the CEO position at the platform replacing James Sherwin-Smith. Carter has been Growth Street’s Chief Risk Officer since its launch. Carter founded Growth Street while working at Arts Alliance, the venture capital investors in Graze, Shazam and Lovefilm, before appointing James as CEO to launch the company in 2015.
The P2P Lender currently allows investors to earn up to 6.5% beginning at just £10. Investor risk is mitigated with a loan loss provision. Growth Street offers several products for SMEs including working capital of up to £500,000.
Carter released a statement on his taking over leadership of Growth Street;
“I would like to thank James for all the hard work he put in over the last two years in growing Growth Street. We would not be where we are now without his diligent and expert leadership. The whole Growth Street family is incredibly excited for the year ahead and I look forward to building on James’ fantastic work.”
The online lender said that 2016 was a stellar year for the platform, which saw it reach a number of important milestones, including originating over £54 million in loans while registering more than 500 investors since November. Growth Street is an Appointed Representative of Resolution Compliance Limited, which is authorized and regulated by the FCA.
“It has been a pleasure building the Growth Street business over the past eighteen months. I wish Greg and the team the best of luck for the future and will watch Growth Street’s developments with interest,” commented Sherwin-Smith.