Funding Xchange hires former Lloyds banker Paul Gordon as group non-executive chair
Funding Xchange (FXE), a UK-based business loan and funding marketplace, has hired Lloyds Banking Group’s Paul Gordon as group non-executive chair to help “capitalise on the drive of banks to transform commercial lending through the adoption of assisted decisioning technology that facilitates faster, more effective credit assessment”.
New FXE group non-executive chair, Paul Gordon (Image: LinkedIn)
Gordon succeeds Simon Featherstone, who has held the role for the past five years and is credited with guiding the group through its Barclays-led Series B funding round in April and the subsequent scaling of its Software-as-a-Service (SaaS) technology unit, FXE Technologies.
In a statement, FXE says its new non-executive chair will “steer the Group to the next stages of growth” and “enhance access to suitable lending solutions while reducing cost-to-serve”.
Founded in 2014, FXE offers SMEs a funding marketplace with access to 70 different lenders, while also incorporating digital eligibility and affordability assessment tools.
Gordon joins the group following a 40-year career with Lloyds Banking Group, where through his most recent position as managing director of relationship management, business and commercial banking, he is said to have “seen first-hand the opportunities and challenges of adoption of digital technology in commercial lending”.
