Marine financing fintech Salt granted FCA approval and names new CRO
Marine financing start-up Salt has been granted regulatory approval from the UK’s Financial Conduct Authority (FCA) and has appointed Rob Cottingham as its new chief risk officer (CRO).
Salt granted regulatory approval by the FCA
Founded in 2021, Salt is developing a financing platform which seeks to provide the marine industry with “fast credit decisions” alongside real-time updates for customers and boat retailers. The regulatory approval from the FCA will enable the fintech to provide consumer lending services, ahead of the launch of its app this summer.
In preparation for this, the start-up has bolstered its leadership team by appointing Cottingham as its new CRO, whose “vast experience in risk management and compliance, coupled with his passion and skills in innovation, automation and AI, will greatly accelerate Salt in its ambition to bring convenient, fast, 21st-century finance to the leisure marine sector”, according to CEO Joe Dalton.
Cottingham’s industry experience to date includes tenures as credit director of point-of-sale (POS) finance provider Duologi, as well as head of credit and risk for Europe at Elavon.
Furthermore, the fintech utilised the announcements of its FCA approval and CRO appointment to pitch for potential investors, seeking additional support for its ongoing seed funding round, which is slated to close at the end of May.
Salt states that those interested in “helping to shape the boat finance revolution should contact Joe Dalton directly”.
