UK Leasing

Propel Finance appoints Paul Piggott as head of technology publisher

Propel Finance, the UK’s leading independent asset finance lender, has appointed Paul Piggott as Director of Supplier Sales.

He is taking office with immediate effect and will be responsible for accelerating the growth of Propel’s expanding supplier finance business, with a focus on the underserved technology market.

Paul has over three decades of experience in asset finance and equipment leasing, with a proven track record in identifying and developing highly profitable business sources across multiple industries.

He comes from Macquarie where he was responsible for sales and marketing in Europe; in this role, he initiated Macquarie’s entry into the UK flow sellers market and the UK brokerage market, helping to build the business from a small start-up in 2012 to a team providing capacity to renowned rental in 33 countries around the world and an organization that sells £ 400 million in annual leasing arrangements across Europe.

Paul has also held senior positions at Fujitsu Financial Services, Heller Financial Inc., GE Capital and ABN AMRO Lease Plan.

Propel’s business portfolio has grown by 35% over the past year and has more than 40,000 customers. The hiring of Paul reinforces the company’s aspirations to grow in the vendor finance industry.

Jon Maycock, Commercial Director at Propel said:

“Naming Paul as the head of our supplier fundraising business is a statement of intent. Paul is widely recognized as an innovator and disruptor in our market. This reflects the philosophy of Propel. Over the past few years, we have built a team that began to make significant inroads into the supplier market, which had not sufficiently served customers. We have forged partnerships which have enabled us to significantly increase our capacity to lend to SMEs across the UK.

“Our supplier financing offering is built on our ability to deliver a scalable product, backed by unmatched technology, at a speed that exceeds customer expectations. Paul is the ideal candidate to build on our success to date in the vendor finance market; and I look forward to working with him to continue to meet our growth goals.

Paul Piggott, new head of technology providers at Propel said:

“I am delighted to join the Propel team. Their approach, combined with the industry expertise and technology they have developed, has the potential to be a game-changer in the asset finance market.

“With a pragmatic approach to lending and an ability to make quick decisions, Propel is well positioned as an alternative lender to support management teams in what is still an underserved SME market. I am delighted to use my experience in supplier finance to help SMEs continue to thrive in a difficult business climate.

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