CrowdProperty hires head of business development for London

CrowdProperty has hired a new head of business development for London and the South East.

Simon Michael joins the peer-to-peer property lending platform from London Credit where he was operations manager. Before that he spent more than six years as business development manager at Alternative Bridging Corporation.

Michael joined CrowdProperty in June. It follows the hire of Steve Smith, who joined the company in February as head of intermediaries.

Read more: CrowdProperty names new head of intermediaries

“We are extremely pleased to have welcomed yet another exceptionally experienced professional to our team. It’s great to see Simon has already hit-the-ground running, and we are looking forward to seeing the impact he has across London and the surrounding areas with developers and brokers over the coming weeks and months,” said Damon Walford, chief commercial officer.

Founded in 2014, CrowdProperty has funded the development of 3,584 homes across the UK since inception, worth £844m in total. More recently, the firm provided a development loan for the construction of 10 new units in an existing apartment block around Raynes Park in London.

Read more: CrowdProperty debuts instant Decisions in Principle

Read more: Filling the gaps: Development finance special report

At the start of January, CrowdProperty reported its most profitable year to date in its latest annual results. The firm posted operating profit of £1.184m for the year ended 31 March 2023, up from £377,000 the previous year.