Press release

David Flacks Appointed Chair of Harmoney Board, Trade Me’s Stuart McLean Joins as Director

Parnell, Auckland, 10 June 2016

Peer-to-peer lending marketplace Harmoney has appointed current director David Flacks as its Chair, and Stuart McLean will join the board as a director.

 

Mr Flacks was initially appointed an independent director of the Harmoney board in May 2014. He is a former top corporate lawyer with more than 30 years of commercial, governance, and strategic experience. Mr Flacks was a partner of Bell Gully from 1987 to 2014, except for four years in the 1990s as general counsel and company secretary of Carter Holt Harvey.

 

He currently chairs the NZX Markets Disciplinary Tribunal, is a director of Vero Insurance New Zealand, and is a member of the Takeovers Panel. He graduated from St John’s College, Cambridge University.

 

Trade Me’s new director on the Harmoney board, replacing Jonathon Klouwens, is head of marketplace for Trade Me, Stuart McLean. He has extensive experience in the commercialisation of technology, having served as chief revenue officer at accounting software firm Xero before joining Trade Me in early 2015. Previously, he was head of enterprise for Google Australia and New Zealand, and he has held numerous executive positions at Oracle. He has a degree in computer studies and microsystems from Abertay University.

 

Harmoney founder and joint CEO Neil Roberts said: “We’re privileged to have benefited from the wisdom and expertise of David and Jonathan, and we’re grateful for Jonathan’s service since Trade Me invested in Harmoney in January 2015. David’s governance skills and commitment to the growth and success of New Zealand companies are unrivalled, and we are pleased that he has accepted the role of Chair. Stuart is a valuable addition to the board and his professional background gives him an intimate understanding of how the Harmoney marketplace works and how we can best position the business to seize opportunities.”

 

In just 18 months of operation, Harmoney has:

  • raised $30 million in working capital and invested substantially in the platform infrastructure and improvements;
  • assessed more than $2 billion in loan applications;
  • facilitated $250 million in lending;
  • paid $20 million in interest to Lenders;
  • processed more than 7,500,000 transactions.

 

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About Harmoney

The Harmoney team are committed to providing a better way to lend and borrow cutting out the need for traditional banks and finance companies.

Harmoney gained strong acclaim among their borrower community having been awarded a 5-star customer satisfaction rating 4,000 times and counting.

Previous winners of Innovator of the Year, and Deloitte Rising Star awards, Harmoney were also thrilled to be a finalist at the 2017 High Tech awards.

Harmoney was granted the first New Zealand Peer to Peer lending license by the Financial Markets Authority and was the first Kiwi peer to peer lender.

Company highlights:

  • Operating in Australia and New Zealand
  • NZ$500 million transacted by lenders and borrowers on the platform
  • 85 new jobs created
  • 150,000 accounts created to date across borrowers and lenders
  • Heartland Bank and Trade Me cornerstone shareholders