The newly launched unsecured online lending platform is now gearing up to start deploying capital and making loans.
The firm, co-founded by Nava are Joe Dlutowski, Richard Lee and Abhai Rajguru is now working towards an initial launch date.
Joe Dlutowski said: “I am delighted to share this news and look forward now to announcing our launch.”
The firm announced its intention to launch a new marketplace lending platform branded ‘Nava’ - aimed at the near-prime consumer credit market - back in November 2016.
Its co-founders say there have identified an opportunity based on the ongoing dominance of traditional high street banks – despite the imposition of unfavourable capital requirements post the 2008 crash – and the relatively limited inroads to date made by alternative lenders, in particular peer to peer lenders.