Lending Works hires technology chief to boost leadership team

Oliver Smith
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Michael Raasch, former technology chief at Ecoinomy, will join the nine-month-old startup
ONLINE peer-to-peer lender Lending Works will today announce the hiring of Michael Raasch, its first head of technology, who spent 15 years managing software development for global banks including Goldman Sachs, Commerzbank and UBS.

Lending Works is one of the rising stars of the peer-to-peer lending sector having lent out £500,000 in September.

The firm is on track to lend over £750,000 in October.

“In the last few months, we have seen Lending Works transform as a business, from a start-up finding its feet to a genuine competitor to our largest peers,” said Lending Works chief executive and founder Nick Harding.

“Michael will be a key member of our expanding team, helping us to consistently deliver the best technology that underpins our services, as well as attract some of London’s best technology talent to our growing developer team.”