Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search


Peer to Peer Lending Platform Harmoney Announces Full Board

Press Release

Peer to Peer Lending Platform Harmoney Announces Full Board of Directors

Auckland, 01 August 2014 - Peer to peer lending platform Harmoney today announced the appointment of its full board of directors. This follows the announcement in May of former GPG Chairman Rob Campbell as Harmoney Chairman.

Appointments to the Harmoney board are Bell Gully Partner David Flacks who is also on the Board of Vero Insurance New Zealand, technology entrepreneur and current Chief Executive of Localist, Christina Domecq, and Tracey Jones, CFO/COO of Tappenden Holdings Limited, one of New Zealand’s largest private investment portfolios.

In announcing the board appointments, Harmoney Founder, Director and Chief Executive Neil Roberts says the company has been fortunate to attract such diversity of experience and expertise to its board.

“The new board appointments bring together three disciplines that are essential to the success of any peer to peer lending platform.

“Funds management to ensure investor returns, the passion for delivering best practice technology and strong legal compliance especially in this newly enabled industry that will be closely monitored by the Financial Markets Authority. All are key areas that will define and shape Harmoney’s performance.”

Peer to peer lending has been extremely successful overseas and is growing at over 200% per annum. In the UK the Government has lent more than NZD200 million via peer to peer lending platforms whilst approving the investment class for pension plans and tax free savings. In the USA, Lending Club, the leading platform, is due to float in an IPO estimated at $5 billion with Google as a cornerstone early investor.

Harmoney is the first lender in New Zealand to be granted a peer-to-peer license by the sector’s regulator, the Financial Markets Authority.*

Harmoney is currently fine tuning systems and operating policies and expects begin trading very soon.


Notes to Editors
More detailed director profiles follow.

*Peer to peer lending was enabled by the Financial Markets Conduct Act that came into effect on 1 April 2014.


Harmoney operates New Zealand’s first licensed Peer to Peer Lending platform bringing together people that want to lend and prime creditworthy borrowers that want to borrow, a marketplace that has existed for generations but until now has been closed to retail investors.

Harmoney’s founders and management team have a proven track record starting a business in 2001 that processed $3b in personal loan applications over a 5 year period before a successful sale to a US based conglomerate. The team has delivered shareholder value in excess of $1b over 12 years.

New Zealand is one of the first countries in the world to overhaul securities law and to allow for peer top peer lending platforms which can act as a challenge to traditional banking.

The service providers are regulated, licensed and policed by the Financial Markets Authority (FMA). Peer to Peer Lending Platforms operate with benchmark operational costs far lower than any main street bank the savings from which are passed on to lenders that invest using the platform.

The investor/lender takes the same risks that the bank takes and enjoys the retail return.
Harmoney is currently the only FMA Licensed Peer to Peer Platform in New Zealand

Harmoney’s key advisers are AML Solutions, Simpson Grierson, Deloitte Partners and Dun & Bradstreet.

Please visit

© Scoop Media

Business Headlines | Sci-Tech Headlines


Science Investment Plan: Universities Welcome Statement

Universities New Zealand has welcomed the National Statement of Science Investment released by the Government today... this is a critical document as it sets out the Government’s ten-year strategic direction that will guide future investment in New Zealand’s science system. More>>


Scouring: Cavalier Merger Would Extract 'Monopoly Rents' - Godfrey Hirst

A merger of Cavalier Wool Holdings and New Zealand Wool Services International's two wool scouring operations would create a monopoly, says carpet maker Godfrey Hirst. The Commerce Commission on Friday released its second draft determination on the merger, maintaining its view that the public benefits would outweigh the loss of competition. More>>


Scoop Review Of Books: She Means Business

As Foreman says in her conclusion, this is a business book. It opens with a brief biographical section followed by a collection of interesting tips for entrepreneurs... More>>


Hourly Wage Gap Grows: Gender Pay Gap Still Fixed At Fourteen Percent

“The totally unchanged pay gap is a slap in the face for women, families and the economy,” says Coalition spokesperson, Angela McLeod. Even worse, Māori and Pacific women face an outrageous pay gap of 28% and 33% when compared with the pay packets of Pākehā men. More>>


Housing: English On Housing Affordability And The Economy

"Long lead times in the planning process tend to drive prices higher in the upswing of the housing cycle. And those lead times increase the risk that eight years later, when additional supply arrives, the demand shock that spurred the additional supply has reversed. The resulting excess supply could produce a price crash..." More>>


Sweet Health: Sugary Drinks Banned From Hospitals And Health Boards

All hospitals and DHBs are expected to kick sugary drinks out of their premises. University of Auckland researcher, Dr Gerhard Sundborn who also heads public health advocacy group “FIZZ”, says he welcomes the initiative. More>>


NASA: Evidence Of Liquid Water On Today's Mars

Using an imaging spectrometer on MRO, researchers detected signatures of hydrated minerals on slopes where mysterious streaks are seen on the Red Planet. These darkish streaks appear to ebb and flow over time. More>>


Get More From Scoop

Search Scoop  
Powered by Vodafone
NZ independent news