Crowdlending specialist ArchOver has appointed a regional director in the Midlands.
Experienced finance broker Julian Straker moved to the Midlands in 1990 when he was appointed to the Birmingham branch of NatWest, sourcing new business for its invoice financing operation.
Five years later, he set up his own commercial finance brokerage company, specialising in invoice discounting, later joining accountancy firm Begbies Traynor.
ArchOver's crowdlending platform uses money from its individual investors and lends directly to borrowers.
It aims to return up to eight per cent interest and minimise the investment risk by ensuring that each borrower is funded by numerous investors, which each risk a comparatively small amount.
Mr Straker said: "Since I first moved here, I have considered the Midlands as my home patch and I have developed a lot of strong contacts with the region's professional service community.
"Over the last few years, the invoice discounting market has changed remarkably and continues to do so in such areas as the sheer volume of providers, the opaqueness of the way they write new business, their motivation, the quality of business written, hidden charges and their relationship with customers."
ArchOver chief executive Angus Dent added: "Julian's in-depth knowledge of the Midlands business community will be a hugely valuable addition to our representation in an important area for us, with its manufacturing and service strength, particularly among its SMEs."
