Australasia’s peer-to-peer lending marketplace Harmoney recently announced it has appointed David Stevens as its new CEO. Harmoney reported that Stevens steps into the CEO role in early 2020. The lender’s founder and current CEO Neil Roberts will step away to focus on strategy and product as the platform continues to innovate and lead across both markets. Brad Hagstrom, who has served as joint CEO alongside Roberts for several years, will focus on supporting the growth of the platform in his new role of COO.
“Mr. Stevens enters the business in a high-growth phase; it recently moved into profitability and continues to innovate in and disrupt the traditional financial services industry in Australasia. A highly experienced CEO and CFO, he most recently led a start-up, MiFund, a leading provider of medical payment options for patients in Australia. He was also instrumental in securing a 35 percent equity stake in MiFund by the Bank of Queensland.”
Speaking about his appointment, Stevens stated:
“The senior leadership has done a fantastic job driving Harmoney to this point, it is now a mature business and I can be useful as we take the business to the next level. The performance of Harmoney to date has been miles ahead of the Australian competition – what Neil and his team have developed is world-class. One impressive feature which sets Harmoney apart is the risk-based model of loan pricing, which works very effectively in providing affordable loans for multiple types of customers through an efficient, real-time platform which is also highly efficient in converting customers to the business by way of its straight through processing without the need to increase spend.”
Roberts went on to comment:
“I worked with David at FlexiGroup and have always admired his ability to home-in on market opportunity. There are few people in Australasia who can match him for consumer finance and capital markets experience, which is invaluable as we move into the next phase of growth for Harmoney. David recognizes that there is a tremendous opportunity to equal and surpass the New Zealand growth rate in Australia relative to the size of the market, and he is the right person to lead this given his intimate knowledge of both countries’ financial services sectors.”
Harmoney added it has achieved more than $1.2 billion in loan volume through its platform ($100 million in the Australian market). The lender claims it is leading a financial empowerment push focusing on Kiwis’ credit scores and better customer outcomes.