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Team leaves Deloitte to help lead innovation in business banking

Aspiring challenger bank, Beyond Funding, a new start-up based in Manchester’s business district Spinningfields, has just appointed two directors from Deloitte.

Aspiring challenger bank, Beyond Funding, a new start-up based in Manchester’s business district Spinningfields, has just appointed two directors from Deloitte.
 
The bank writes that Ravi Sharma, an ACA qualified accountant with Corporate Finance, Restructuring and Commercial Refinance background, will become Beyonds Corporate Finance Director and oversee the company’s go-to-market strategy as well as deliver strategic support services to its SME client base.
 
Meanwhile, Vic Herd, an Advisory Board member of the Chartered Institute of Credit Management and former national lead for Deloittes Receivable Management team, joins the Board as Value Director, delivering cash management, recruitment, system and infrastructure support for client businesses free of charge.
 
The firm says that this marks the start of Beyond’s ‘full service’ model that looks to deploy an array of support services to its clients to compliment the working capital and asset finance lending products the business provides.
 
Beyond Funding was founded by Cheshire based accountant, Max Ward (formerly of GE, Barclays and Aldermore) and has received a multi-million pound investment from entrepreneur, Shaun Morley, Managing Director of Rossendale-headquartered LSC Footwear and financial services providers LSC Finance and LSC Capital.
 
The remaining members of the investment board are Adam Turner and Phil Travis. The firm writes that it is this unique customer proposition, team and investor footprint that is hoped to start a movement to redefine the way banks work with their business customers.
 
Max Ward comments: “We are incredibly excited to have Ravi and Vic join the day one team. Not only do these roles not exist in our traditional competitors, we are unique in building a bank around people that come from outside banking. We believe that in order to deliver something different, you need a different structure, different people and a company wide culture to want to deliver. At Beyond Funding lending may pay our bills but it’s the impact our support services can have that we are passionate about. We think business owners up and down the country have suffered from a lack of support for decades now – our model aims to enable those keen to grow or turnaround their business”.
 
The Board of Beyond is comprised of seven people. In addition to those above, Sarah Barker joins having previously been Head of Risk Advisory at Aldermore, Andrew Townsend joins having established a career building and leading mortgage businesses, Nick Slack joins with 15 years ABL experience, most recently leading the Intensive Care Team at Aldermore and Matt McDermott joins having previously contributed to the prolific growth in both Aldermores and Metro Banks Asset Finance operation.
 
The incorporation has been assisted by the tax and regulatory teams at Deloitte, notably Arran Simpson and Pete Birch. Kieran Toal of Shoosmiths acted on behalf of investor and Graham Hall and Clare Grey of Knights assisted management. Entrepreneurial Spark – the worlds largest free business accelerator – has been a key sponsor providing enablement, networking support and premises.
 

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