Crowd2Fund hires new MD, updates credit policy
Crowd2Fund has appointed board member Hussain Qaragholi as managing director, as the peer-to-peer lending platform updates its risk mitigation policy.
Qaragholi joined the Crowd2Fund board in June 2022, but he will now take on the role of managing director, in addition to his boardroom responsibilities.
“Broadening our executive team has also been high on the agenda,” said a Crowd2Fund spokesperson, in a blog on the company’s website.
“Introducing a new senior executive into the team with a highly complementary skill set to the existing team means we’ve got plenty of firepower to resolve issues and also embrace new opportunities.”
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Qaragholi’s appointment comes as the platform seeks to implement some new risk mitigation strategies to keep investor returns safe amid ongoing economic uncertainty.
Crowd2Fund will now carry out monthly revisions of its credit policy, rather than quarterly.
“A core focus is around adjusting the interest rate offered to investors so that it accurately reflects the risk they are taking,” the platform said.
“We are always reviewing the business assessment process and introducing new checks, relevant to changing conditions. Recently, we introduced a check for assessing the impact of inflation on businesses and currency risk.”
The platform also said that it has “big plans” for the recently-launched Small Business Exchange. These include the international expansion of the exchange, and the ability to offer equity trading in small businesses.
“Since opening the Small Business Exchange, we’ve seen very high demand on the buyer’s side purchasing investments from investors normally within a few hours,” Crowd2Fund said.
“We’re looking to loosen the criteria of investments being listed to meet the high liquidity availability from investors.”
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