P2P business lending platform ArchOver is expanding into the West Midlands by opening an office in Birmingham.
Head of the Birmingham office will be David Newton, who began his career as a chartered accountant at Ernst & Young before undertaking a corporate finance and investment banking career in London, specialising in the provision of finance for SMEs.
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Newton was the chief executive officer of American company Vane Minerals before moving back to the West Midlands. There he held roles including as the finance director of software business Refractiv and as a corporate finance director for Birmingham-based advisory firm Cattaneo.
Newton said: “Birmingham is a hotbed of innovation and among the top cities in the UK for job creation. Enabling local SMEs to access the funding they need to grow through ArchOver will boost an already thriving business landscape. I’m excited to be part of that process, and am delighted to be supported by such a strong ArchOver team in London.”
ArchOver chief executive officer Angus Dent said: “This is the first step on the road to national expansion for ArchOver . We have long supported Midlands SMEs that struggled to secure traditional finance, so opening our first regional office in Birmingham was a natural choice. The region’s many businesses in the manufacturing and supply chain sectors will also enable us to grow our strong portfolio of SMEs in these industries.”
Of Newton’s appointment, Dent said: “David has extensive experience working in banking, regulation and financing both for private limited companies and small to mid-cap companies. This means that companies looking to fund their ambitions will find David to be a tremendous asset and source of support, which will supplement their financing through ArchOver .”
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By GlobalDataArchOver is a member of financial services provider the Hampden group. Companies that borrow over the ArchOver platform are UK-based, have been trading for a minimum of two years, and are seeking a minimum loan of £250,000.
