The peer-to-peer lender says McDonnell has worked in a “variety of business development and financial services roles” and comes with “strong experience in the technical aspects of development and commercial funding”. He will be based in Cheshire.

It adds that its new relationship manager has previously grown his own start-up business to over 35 staff and has “valuable customer relationship management skills”.

The firm says it has boosted its presence in Wales this year and its recent lending includes a £1.7m loan to housing developer New Generation Developments to help build the Old Mill project in Kidwelly, West Wales, which will provide family homes in the coastal town by autumn 2022.

Assetz Capital regional director for UK North Andrew Fraser says: “John’s top-class CV boasts high quality experience in development funding, and as we target record levels of lending with our improved development finance, his appointment comes at the perfect time.”

The business, founded in 2013, has almost 41,000 lenders, who include banks, institutions, businesses and retail investors. It has lent almost £1.5bn since it was launched.