Fintech startup Trade Ledger — which describes itself as the world’s first corporate open banking lending platform — has announced the opening of its European operation, headquartered in London, along with additional hires.
Lisa Callaghan will move from the role of accountant to Chief Financial Officer at Trade Ledger’s Sydney office, after representing technology start-ups from inception through to early fundraising as a partner at Interactive Accounting.
The UK operations will be headed up by a new Chief Innovation Officer with the company tapping some talent from Equifax UK.
The expansion is designed to boost Trade Ledger’s international traction and product market fit, and should allow it to take advantage of open banking, and prepare it for further accelerated global growth, according to a statement.
It comes after Trade Ledger’s Open Innovation Banking Award from Barclays Bank last month, and its participation in the Australia-UK Chamber of Commerce-sponsored fintech trade mission this week.
Callaghan’s promotion, and other appointments will bring “… an incredible depth of knowledge and experience to our business at a crucial time in our global development, and in the evolution of financial services as a whole,” said a company spokesperson.
“Lisa’s extensive and hands-on experience with hundreds of growth-stage company operations makes her a natural fit to manage both our financial direction and our general operations,” according to the spokesperson.
“These appointments will strongly support the next part of our ‘Born Global’ strategy — entry into the exciting and fast-moving European market” said the spokesperson, who also said the move would help the company take advantage of opportunities created by impending regulatory changes driving bank transformation into tech-driven business models.
These include rules such as General Data Protection Regulation, Open Banking, and the Revised Payment Service Directive (PSD2).
“It’s a perfect storm of opportunities for a corporate banking credit platform like us,” said the spokesperson.
Callaghan said “After 15 years in public practice, I’ve witnessed time and again the limited borrowing options available to businesses, especially those that are not capital intensive. Trade Ledger is the first company solving this complex issue on a global scale.”