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Harmoney announces advisory board

Fuseworks Media
Fuseworks Media

New Zealand’s first peer to peer (P2P) lending platform Harmoney today announced the composition of its advisory board, a group of seasoned early stage P2P investors, P2P senior executives and consultants and tech entrepreneurs whose experience will guide the company as it prepares to launch in the New Zealand market and eventually, beyond.

Harmoney Chairman Rob Campbell says the company is fortunate to have the involvement of some of the biggest names in the global peer to peer sector, who will also be investing in the company.

"Harmoney will benefit enormously from the collective wisdom and experience of our advisory board members. All recognise the potential inherent in the Harmoney model and believe that the New Zealand market, with its highly profitable, predominantly foreign owned banks, is ripe for a disruptive lending and investment platform, like Harmoney, where investors earn more and borrowers pay less.

"We are delighted to welcome to the Harmoney advisory board Brian Barefoot, Etienne Boillot, Charles Moldow and James Punnett. All have impressive track records, and many have been associated in some way with highly successful and fast growing peer to peer lenders in the US and Europe. Others have experience in starting and building new businesses, and all know how to evaluate a new business opportunity and the work that is required to create value.

"All advisory board members have also chosen to become investors in the company. Proof that peer to peer lending in New Zealand is likely to replicate the impressive performance of similar operations in the United States and Europe."

Peer to peer lending has been extremely successful overseas, changing the way that people borrow and invest, and in the process, is experiencing huge growth. The UK Government has lent more than NZD200 million via P2P lending platforms while approving the investment class for pension plans and tax free savings. In the USA, Lending Club, the leading platform, is due to float in an IPO estimated at $5 billion with Google as a cornerstone early investor.

Harmoney is the first lender in New Zealand to be granted a peer-to-peer license by the sector’s regulator, the Financial Markets Authority.

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