Linked Finance, Ireland’s leading P2P (Peer-to-Peer) lending platform, has appointed Michael Cawley, former Deputy Chief Executive of Ryanair, as its new Chairman.
The company has grown rapidly in recent years and that growth shows no signs of slowing. In the first half of 2017, Linked Finance has seen lending to Irish SMEs increase by 243% on the same period last year.
Commenting on his appointment Michael Cawley said:
“Linked Finance is one of Ireland’s most exciting fintech companies and I am delighted to be able to support them as they embark on their next phase of growth. I enjoy working with companies that are innovating and disrupting old models. Linked Finance is doing just that; providing hard-working, local entrepreneurs with a fast, fair and innovative way to access much-needed finance.”
Niall Dorrian, CEO of Linked Finance said:
“I’m very pleased that Michael has joined Linked Finance as Chairman and I look forward to working with him. Linked Finance is at a really exciting juncture. We’ve done all of the groundwork; developed the technology, built a popular platform and assembled a top team. Now we’re ready to focus on our next phase of growth.”
Michael Cawley takes over as Chairman from Kingsley Aikins, one of the company’s original investors, who will continue to sit on the board as a Non-Executive Director. Michael is currently a Director of Ryanair, Kingspan, and Paddy Power; he is also the Chairman of Hostelworld and Failte Ireland.
Earlier this month Linked Finance celebrated making its 1000th loan since its launch in 2013, raising €100,000 for accounting software specialists Big Red Cloud. Other companies Linked Finance has connected with members of the public, institutions and other investors willing to lend them funds include: Viking Splash Tours, Lolly & Cooks, Murphy’s Ice Cream, Iconic Offices and the Irish Fairy Door Company
So far, €33 million has been lent via Linked Finance’s online platform, with well over €2.5 million in interest earned by lenders.
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