MarketInvoice has appointed a former executive at Aldermore and Bibby to head up regional expansion from the company’s Birmingham offices.

Adrian Payne has joined as head of sales for the Midlands and the south-west from Ultimate Finance Group, where he was regional director.

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Between 2010 and 2015, he held business development roles in Aldermore, Bibby Financial Services and Barclays, always with a focus on the Midlands.

He will report directly to Gavin Sumner, vice president sales. His work will also involve enhancing MarketInvoice’s underwriting and risk policies.

MarketInvoice said Payne’s appointment reflected an increased interest in the peer-to-peer lenders’ products on part of companies in the Midlands and the south-west.

It said business volumes for the region totalled £67.4m (€76.6m) in 2017, and were already £74m for the year-to-date.

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Payne said: “MarketInvoice is growing at a phenomenal rate and I am thrilled to be joining the team at such an exciting time. Businesses in the Midlands and south-west are agile and forward-looking companies, and the MarketInvoice proposition will be a great fit.”

commented: “Adrian brings a depth of experience that will benefit our clients and team alike. His deep knowledge of a range of sectors and regions will help to grow the reach of MarketInvoice and support businesses across the UK.”