New CTO at Funding Circle to Lead Innovation Agenda, Product Platform Expansion

Funding Circle (LSE: FCH), which claims to be the United Kingdom’s largest lending platform for small business borrowers, announced the appointment of Greig McEwan as Chief Technology Officer.

Greig joins Funding Circle’s Global Leadership Team, “reporting to CEO, Lisa Jacobs.”

Greig is “a customer-driven technology leader with more than twenty years experience working in fast-paced digital organizations.”

Most recently, Greig was CTO at sennder, which is reportedly one of Europe’s leading digital freight-forwarder platforms. He was previously CTO “at Paddy Power Betfair, responsible for its technology for both brands, operating in more than 100 countries.”

Lisa Jacobs, CEO at Funding Circle, says:

“I’m delighted to welcome Greig to the Funding Circle team. Technology and data is the crux of everything we do, and our next phase of growth is all about building scale and transforming the business into a multi-product platform to help more small businesses get the funding they need to win. Having worked in fast-paced, customer-focused organisations, Greig brings a wealth of experience that will help us continue to innovate at pace and deliver a superior customer experience.”

Greig McEwan, CTO at Funding Circle, added:

“I’m excited to develop Funding Circle’s technology, building on the excellent foundations that have already been laid and taking it to the next level. Becoming a multi-product platform that serves a direct and embedded audience will drive meaningful business growth and help more small businesses not only borrow, but pay and spend as well.”

As noted in the update shared with CI, Funding Circle claims it “provides a leading-edge customer experience, delivered through its technology, machine learning and data science, coupled with a human touch.”

In the UK, more than 70% of loan applications “receive an instant decision.” Small businesses can apply “for a loan in six minutes, receive a decision in nine seconds and money in their account in 24 hours.”

As mentioned in the announcement, Funding Circle claims it is “a lending platform for small business borrowers.”

Established in the UK in 2010, and now one of “the leading lending platform to SMEs, the Group also has a material and growing presence in the US. Globally, Funding Circle has provided £14.5bn in loans to c.130,000 businesses.”

For small business borrowers, Funding Circle “provides a customer experience, delivered through its technology, machine learning, and data science, coupled with a human touch.”

Its solutions continue “to help customers access the funding they need to succeed.” For lending investors, Funding Circle provides “access to an alternative asset class in an underserved market, and delivers robust and attractive returns.”

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