U.S. Markets open in 7 hrs 2 mins

Marketlend Appoints Brad Pattelli as Non-Executive Director

SYDNEY--(BUSINESS WIRE)--

Marketlend, Australia’s leading peer-to-peer trade credit platform, today announced that it has appointed Brad Pattelli as a non-executive member of its board of directors. Pattelli brings decades of experience as an investor in a broad range of businesses, multiple prior public and private board roles, and significant expertise in the P2P arena as the former President of LC Advisors, a subsidiary of LendingClub, the award-winning online platform.

Leo Tyndall, CEO of Marketlend said, “Marketlend is delighted to have someone of Pattelli’s caliber join our board of directors with other notable directors being Jon Barlow. It’s a real affirmation of the Company’s achievements to date and our future prospects to have him make a significant and integral investment in our nearly complete equity funding round.”

Prior to joining LendingClub, Pattelli was a partner at Angelo, Gordon & Co., a $26 billion New York registered investment advisor specializing in alternative investments. As the co-portfolio manager of the leveraged loan group, Pattelli managed CDO portfolios and multiple non-investment grade portfolios while leading significant growth in assets under management and delivering solid returns to clients. Pattelli, a Chartered Financial Analyst, holds a Bachelor's of Science in Electrical and Computer Engineering from the University of Notre Dame and received an MBA from Columbia Business School, where he was most notably trained by Jim Rogers, Chairman of Rogers Holdings.

Pattelli commented, “The Marketlend team has really delivered an innovative financing solution for the small to medium sized business market and at the same time has creatively structured unique products that deliver benefits to both borrowers and investors. I look forward to working with this talented team to help make Marketlend the go-to provider of receivables and supply chain financing, as well as a credible choice in alternative, insured fixed income investing.”

Founded in 2014, Marketlend provides investors with a unique opportunity to invest in supply chain or debtor lending facilities secured by short-term receivables, primarily from small to medium sized Australian businesses. An A+ rated global insurance company protects Marketlend investors against insolvency of the borrower and its debtors, enabling uninterrupted principal repayment on the majority of Marketlend’s lending facilities, providing investors with significant credit enhancement whilst enabling borrowers to receive better interest rates. Marketlend has recently secured a mandate from an undisclosed institutional investor to invest on its platform.

Leo Tyndall, CEO and Founder of Marketlend, said; “We are very excited by the appointments, as well as the extensive knowledge, investment and skills of our team that make Marketlend a scalable marketplace lending operation to the Australian businesses. Our model is based on providing three key strengths: an innovative technology solution for the financing of company receivables and payables locally and offshore; accompanying the investments with risk protection enhancements consisting of insurance and first loss protection; and securitizing the loans on inception to meet the needs of investors including institutional investors.”

About Marketlend

The first of its kind in Australia, and possibly globally, Marketlend is an online marketplace that facilitates prompt, secured lending by using securitization from inception in a secure environment for trade credit receivables. Focusing on marketplace lending in Australia (also known as peer-to-peer lending), Marketlend enables a direct link between businesses and investors. As a stable online platform, Marketlend provides the peace of mind that comes with loss protection on each loan and insurance in most circumstances with the benefit of a quick, effortless process. Marketlend stands apart from its competitors by securitizing from inception each loan, and delivering an investment that is accompanied by individualized loan risk protection enhancements. The use of insurance, and securitization from inception enables Marketlend to be able to offer its investments to the full spectrum of investors from retail to significant institutional investors in a format that is well accepted by all.

View source version on businesswire.com: http://www.businesswire.com/news/home/20170223006690/en/