"We believe that our growth target for 2019 is realistic, yet the primary focus remains the quality of the loan book. "
The Fiduciam marketplace lending platform currently lends against security in the UK, Ireland, Spain, the Netherlands and France.
To cater for its 2019 lending growth, Fiduciam intends to hire 25 additional employees over the next few months including case managers, underwriters, business developers and loan servicers.
Fiduciam currently offers bridging and development loans and about half of its loan book provides working or expansion capital to SMEs.
The lender also plans to broaden its product range and is opening a new office in the UK.
Clint White, head of property lending at Fiduciam, said: “Fiduciam’s loan book is well positioned with its exposure being well diversified both geographically and across different sectors. 2019 promises to be a more challenging year for the lending industry in general, with widening credit spreads, falling real estate prices in certain parts of the UK and the Brexit risk, however we are confident our positioning will allow us to take advantage of this environment.
“We believe that our growth target for 2019 is realistic, yet the primary focus remains the quality of the loan book. Since we started lending three and a half years ago, we have never had to appoint a receiver, and therefore whilst we expand, we need to make sure our risk and quality culture is not watered down. This means we have to spend a lot of time looking for the best candidates and providing further training."
Johan Groothaert, CEO, added: “We are now making the transition from platform development to ramping up the production. It has taken us nearly three years to develop a very advanced technology and legal platform, and we have achieved this whilst keeping the business cash-flow positive, ensuring the sustainability of our growth model.
“This year we intend to roll out new industry-defining algorithmic technology, increasing our case management and underwriting efficiency. 2019 will also be the year we make a substantial investment in human resources, with the focus being on university graduates and people early in their careers, to provide them with a steep growth path in the years to come. Fiduciam is still in the early stages of its development and the vacuum left by the banks is huge; this is a long-term game.”
