Former Xero boss joins non-bank lender

Former managing director of Xero Chris Ridd has been appointed to the board of the data-driven lending platform as the company positions itself for significant growth.

Having worked at Xero Australia for five years, Mr Ridd brings to the role his extensive understanding of small business lending.

“I saw a marked shift in the way SMEs use online data to streamline business process and drive growth,” Mr Ridd said.

“There is an opportunity to help support the continued success of small businesses. Lending based on the strength of accounting data is a unique point of differentiation in the market, and one that is the way of the future for finance-as-a-service,” he said.

Moula CEO and co-founder Aris Allegos commented that Mr Ridd’s appointment will be significantly beneficial in assisting Moula to deliver its unique lending solution to Australian SMEs.

“Having somebody of Chris’ calibre on the board, with his track record of building exceptional businesses, is a tremendous boon to Moula,” Mr Allegos said.

Mr Ridd joins the board of five executives, including Moula co-founders Aris Allegos and Andrew Watt, managing director of Liberty Financial Sherman Ma and tech entrepreneur Nathan Cher.

[Related: New lender to ramp up broker distribution]