‘Superwoman’ City boss Nicola Horlick set to launch crowdfunding site
Hedge fund heavyweight set to enter fast-growing alternative loans market with Money&Co
Nicola Horlick, one of the UK’s best-known hedge fund managers, today announced she is set to launch a new crowdfunding loans site early next year.
Set to launch in April 2014, Money&Co will connect investors to businesses looking for a loan based on search criteria such as geographic location or industry, with finance then provided at a rate agreed by both parties.
The service will be targeted at start-ups and early stage ventures which have been unable to access traditional bank loans and funding.
The company says that new features are set to be announced before launch which will set Money&Co’s offering apart from similar companies within the sector.
The lending platform will be the latest to enter the fast-growing alternative finance sector which has proliferated in response to a steady decline in bank lending since 2009.
According to innovation charity Nesta, the sector has the potential to account for around £12.3bn of loans within a decade.
The business will be headed up by CEO Horlick, who is one of Britain’s best-known City investors and businesswomen with more than 30 years’ experience in financial services – having held top positions at a number of high-profile fund managers.
The co-founder of Bramdean Asset Management recently raised £150,000 in less than 24 hours for film finance business Glentham Capital through crowdfunding website Seedrs, affirming her view of the sector’s potential.
Nicola Horlick said: “Crowdfunding is growing very quickly and this provides a great opportunity to offer both businesses and investors something they aren’t getting right now: accessible finance and good interest rates.
“As we head out of these challenging economic conditions, Money&Co will be well-placed to support business growth and reward individuals looking for a better return on their money. Money&Co will bring together good businesses that need to borrow to expand, with people who want to save at a more attractive rate than the banks offer.”