Assetz co-founder to launch new SME lending platform
Assetz Capital co-founder Andrew Holgate has revealed plans to launch a new lending platform under the Equitivo brand some time this year.
Holgate (pictured) said that Equitivo will focus on lending to small- and medium-sized enterprises (SMEs) and the short-term non-regulated real estate market.
He initially founded Equitivo as a fintech consultancy, which worked with the likes of Brismo and The House Crowd.
However, in a Linked In post, Holgate said that he has assembled a team and will be launching Equitivo as an SME lending platform during 2023.
“Crowded market, lots of incumbents! I hear you cry,” he said. “But that’s exactly what was said 10 years ago when I set up my first lending platform and proceeded to lend just under £1bn in five years.
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“Back then, we were also like every other lending platform in how we operated; reliant on a system with a legacy banking framework. Looking back, there wasn’t really that much innovation.
“How we will approach lending today is very different from then and it will be different from other lenders currently serving the SME, especially in terms of how we interact with borrowers.”
He added that the new platform will go “beyond lending” in order to speed up transaction processes and help borrowers improve their credit rating.
The House Crowd’s former chief operating officer Carl Davies has joined Equitivo as co-founder and chief operating officer. Simon Challinor is co-founder and chief technology officer, and Jeff Jones is co-founder and chair.
“More than 12 months of planning has gone into what we are doing, longer if you include the Covid years,” Holgate added.
“It will be a fintech built in the right way. We will be a financial services business enabled by great tech.”
Equitivo is currently finalising its pre-seed equity raise so that it can start the first phase of building the business.
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