A former director and stakeholder in defunct peer-to-peer lending platform FundingSecure has stepped down as a director of CrowdLords after three-and-a-half years.
Businessman Raj Kumar was appointed as a director of CrowdLords on 2 April 2019 and resigned on 1 November 2022, based on paperwork filed with Corporations Home.
Kumar joined P2P pawnbroker FundingSecure in October 2018 and acquired a 75 per cent stake within the enterprise. FundingSecure’s founders stated on the time that the cash can be used to help the platform’s development plans, however it collapsed into administration in October 2019.
FundingSecure stated on the time of Kumar’s appointment that he has greater than 25 years of expertise in working and constructing worth in a wide range of firms, together with property improvement, journey, trade, training and the meals sector.
In January this 12 months, CrowdLords revealed that it was in discussions a couple of merger, though no announcement has been made since then.
The property funding platform was working as an appointed consultant of ShareIn, however opted to stop regulated exercise in 2020 as a result of ban on the advertising and marketing of speculative illiquid securities.
Chief government and co-founder Richard Bush advised Peer2Peer Finance Information in January that the agency had “a optimistic 12 months”, and is targeted on managing its current investments by to completion and arranging investments for high-net-worth and complex traders solely.
CrowdLords has been contacted for remark.
