Income appoints new CEO

European peer-to-peer lending platform Income has appointed a new chief executive, taking over from founder Kimmo Rytkönen.

The company’s chief operating officer Lavrenti Tsudakov has been promoted into the top job, after two years with the firm.

Rytkönen will remain with the company in an “active founder position”, which will focus on new partnerships, regulatory license applications, and the next funding round of the company.

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“We are confident that Lavrenti and Kimmo are the best team to lead Income and the team into its next phase of growth,” said a spokesperson for Income Company.

“We are excited to see what the future holds for the company, and we appreciate your support as we continue to grow and innovate.”

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The spokesperson added that during his time with the Estonia-based company, Tsudakov “has proven himself to be a highly effective individual with a strong track record of execution”.

“His support has played a key role in the company’s rapid growth, and he is well-positioned to lead Income into its next phase of growth,” added the spokesperson.

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