Richard Whitehouse brings over 18 years of experience in invoice finance, asset-based lending and trade finance, having previously served as a regional sales director at Aldermore Bank.

The new recruit will be responsible for leading the company’s sales strategy and working with businesses to ensure they have fast access to Platform Black’s online funding solutions.

Richard said: “The fintech market is exploding and this opportunity to join a business in the sector, with such strong lending principles and access to large funding pools, was impossible to ignore.”

Richard’s appointment follows the news that Platform Black will be rebranded as Sancus Finance Limited at the end of this year, following further investment from its owner Sancus BMS Group.

“Platform Black’s track record and investment from our parent, Sancus BMS Group, will allow the business to continue innovating rapidly,” Richard explained.

Last year, Platform Black celebrated a turnover of £44m, which it attributes to delivering fast finance solutions as well as diligent risk management.

The firm has also had a record year with zero defaults in the past 18 months.

Caroline Langron, managing director at Platform Black, added: “Our online business finance marketplace allows us to connect clients looking for flexible and competitive finance, with funders who want to support business growth.

“Our clients find it fast and easy to use, which makes our offering a compelling one for companies looking at innovative ways to finance their growth.”