Shortly after leaving ETX Capital, the dealer’s former CEO, Arman Tahmassebi publicly introduced through LinkedIn that he’s venturing into one other department of the fintech trade. His new function is as COO of LendInvest.
The transition for Tahmassebi comes after he spent virtually twenty years within the retail brokerage trade in varied roles. His most up-to-date stint at ETX Capital as COO and CEO was preceded by a COO function at LCG and virtually fifteen years at IG Group in varied positions.
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Tahmassebi’s transfer comes amid rising regulatory strain over the sector which has triggered a number of London-based brokerage homes to reshape their government groups.
LendInvest IPO Prospects
Last 12 months, various funding fund platform LendInvest raised near £30 million in a pre-IPO funding spherical. The firm is bridging the hole between lenders and debtors with a selected concentrate on the property sector.
As a non-bank mortgage lender, LendInvest has lent over £1.5 billion and is offering an necessary supply of funding for buy-to-let SMEs. The firm’s platform additionally permits people, corporates and establishments to take a position into secured property loans within the UK.
Tahmassebi is becoming a member of the agency within the run-up to a potential IPO itemizing, which the corporate hinted in September final 12 months after its Series C funding spherical. The firm has been persistently worthwhile over the previous a number of years, making its enterprise proposition enticing.
Non-bank lending has been gaining floor because the daybreak of the trade within the aftermath of the GFC of 2008. A variety of corporations, particularly within the UK took on the chance to supply various financing to companies through a rising variety of lending platforms.
Late final 12 months, the CEO and confounder of LendInvest, Christian Faes stated that the corporate’s plans for an IPO are nonetheless a 12 months or two away. The firm seems to be in search of the Brexit clouds to dissipate earlier than taking its subsequent step.