Funding Circle recruits new board member

German economist and policymaker, Jörg Asmussen, joined the board of the SME peer-to-peer lender as Non-Executive Director, after holding several high profile positions in the public sector.

Most recently, Jörg was State Secretary for the German Ministry of Labour and Social Affairs, and before that he served as an Executive Board Member of the ECB from 2012 to 2013.

Prior to that he was State Secretary at the German Ministry of Finance for four years.

Samir Desai, CEO and co-founder of Funding Circle, said the appointment would help achieve the company’s vision to go global with small business financing.

“The last 12 months have seen a number of successes for our business, including growth into continental Europe,” commented Samir.

“I am delighted Jörg is joining our team to share with us his experience and expertise and join us on this exciting journey.”

Jörg added that he was pleased to have joined a company that operated at the forefront of innovation in the financial services industry.

“I am impressed by the high professionalism of the management team of Funding Circle and the soundness of the company’s operations throughout the whole value chain,” Jörg said.

Matthias Knecht, co-founder and Managing Director of Funding Circle Continental Europe, said: “Jörg is one of Germany’s most respected economists and has spent a lifetime shaping government and central banking.

“As we accelerate our growth across Europe, his experience in European regulation and unique insights into the challenges faced by small businesses will be an invaluable asset.”

In January, Funding Circle passed the £1bn lending milestone since launching in 2010, and said it was on track to lend a further £1bn this year.