A Cheshire-based peer-to-peer lending company hopes to unlock growth and create jobs after embarking on a multi-million pound fundraising drive.
JustUs, a new firm from the mind of financial services entrepreneur Lee Birkett, is seeking to raise £5.35m, including £1m through crowdfunding platform Crowdcube.
The bulk of the cash will be ploughed into advertising to boost public awareness, with JustUs expecting to create as many as 130 jobs over the next three years.
The former global principal in fintech at Google, Thomas Adalbert, has invested in JustUs and joined the Alderley Edge-based firm in the role of chief marketing officer.
Sir John Hegarty, a founding partner of global communications and advertising firm Saatchi & Saatchi, has also invested in JustUs and leads the platform’s brand team. Over the coming months, he will head up efforts to create a multi-million pound advertising campaign for the company.
JustUs founder Lee Birkett, who has 26 years of experience in financial services, said: "JustUs is for everyone, it’s an exciting evolution for the sector, which I believe can only become more relevant as consumers see that despite the worst financial crisis in a generation, banks and bankers’ behaviour hasn’t really changed.
"I believe we are completely disrupting the status quo with a range of accessible products for borrowers from a comprehensive range of backgrounds and credit history.”
He added: "JustUs is democratic, by the people, for the people. Savers are uninspired by their humdrum returns. We can give them access to the higher returns by bringing them together with a broad mix of consumer, guarantor and secured loans.”
Thomas Teichman, who founded investment firm Spark Ventures, commented: "Secured lending backed by property is a much more secure place for investors combined with a much better return than cash.
"I’m using it myself to raise my yields on a part of my assets. JustUs has a very deep experience base in this area.”
JustUs’ chief marketing officer, Thomas Adalbert, said he believes the new platform will take people back to the roots of money lending.
He explained: "Going back to the very beginning of the lending marketplace, people would come together and help others out by lending money to them. I think we lost our way and the whole banking fraternity just got too greedy.
"This, on the other hand is going back to the roots, allowing you to help out other people through lending money.”
Thomas added: "The alternative finance sector is evolving and growing and that is why I have given up my job with Google to invest my time and my money into JustUs.”
Manchester law firm Field Fisher, led by partner Matt Fleetwood, provided the JustUs team with legal advice.
Read more at bdaily.co.uk