Small business lending platform Funding Circle has named former Auto Trader chief financial officer (CFO) Sean Glithero its new CFO. He begins work in October.
Mr. Glithero joined Auto Trader in 2006, working his way up through group and divisional roles before becoming CFO in September of 2012. He said October cannot come soon enough.
“Over the last seven years, Funding Circle has cemented its place as the leading platform for small business loans globally. Similar to Auto Trader, their business model is digital and data-led and they have a collaborative culture for delivering the best results for their employees, customers and investors. I am looking forward to joining the team and supporting the business as it continues to build on its market-leading position.”
Cofounder and CEO Samir Desai looks forward to Mr. Glithero’s contributions.
“Our ambition is to build a better financial world by revolutionizing the financial system and securing a better deal for everyone. Sean’s experience will be invaluable as we continue on the journey to creating a category-defining global company, helping thousands of small businesses access finance and create jobs, while providing investors with attractive, stable returns on their investments.”
Mr. Glithero is joining Funding Circle at an opportune time. Over the first half of 2017, global lending increased 80 per cent to approximately £800 million. Highlights included an £82 million equity capital raise led by Accel, a £40 million lending commitment from British Business Bank, a £142 million C share placement by the Funding Circle SME Income Fund, and FCA authorization in the United Kingdom.