StepLadder, the UK’s first collaborative deposit peer to peer saving platform, has today announced two new senior hires to support their continued growth. Alex Corley Smith will be joining the start-up as head of partnerships and Osei Downes will be joining as head of growth.
For over 20-years, Alex has held a number of key investment banking positions at international firms, including managing director at BNP Paribas in London and New York , Merrill Lynch and UBS. Most recently, she was a strategic advisor and head of network at the angel investment fund, Adelpha Group. With this experience, Alex will be key in developing partnerships with large corporates for StepLadder’s first-time buyer support network.
Osei has extensive experience in the world of proptech and fintech start-ups, having co-founded Huuti, the UK’s first proptech personal finance assistant, designed to help people build their mortgage deposits and improve their financial circumstances. With his background in property and growing consumer numbers for start-ups, Osei will be playing a vital role in reaching more consumers to continue StepLadder’s growth.
Having launched earlier this year following a pilot in 2018, StepLadder is expecting to grow rapidly over the next 12 months. The platform groups members in ‘circles’ in which each individual contributes (through a peer-to-peer platform) an identical amount of money, ranging from £25 to £1,000 each month.
The contributions of each member of the circle in that particular month are allocated to one of the circle’s members by random draw, ensuring absolute impartiality. The process is repeated on a monthly basis, until all of the circle’s members have received their deposit money. All members will enter into a peer-to-peer loan agreement and borrow a percentage of funds, apart from last member to draw their funds.
Commenting on the appointments, Matthew Addison, founder and CEO of StepLadder said, “Following the success of the last 12 months, we are thrilled to expand our team with Alex and Osei. Their combined experience will allow us to create an even stronger offering for our members and reach the thousands of individuals who are struggling to get on the property ladder.”
On her appointment, Corley said, “StepLadder is offering first-time buyers an innovative product and access to high-quality financial tips; tips which many miss out because they may not know where to find them. Employers are keen to offer their teams smart in-house programmes that encourage both financial wellness and resilience.
“A Stepladder Employer circle could empower their employees to achieve their property dreams. I really look forward to growing StepLadder’s network of strategic partnerships to help them do just that.”
Downes commented on his appointment said, “I’ve always been passionate about helping first-time buyers reach their deposit goals, and I’m excited to do so on a larger scale at StepLadder. With house prices continuing to rise, more and more millennials are becoming discouraged, so it is fantastic to be part of a business helping to empower them.”
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