Investec Asset Finance Group has announce the appointment of Paul Cunningham as head of Quantum Funding.

He joins Quantum following three years leading the invoice finance team for London and the South East at Bibby Financial Services.

Prior to Bibby, Cunningham held a number of senior positions within specialist finance, with more than 18 years’ experience in asset based lending, invoice finance, receivables and portfolio funding.

Quantum provides a range of asset finance to UK SMEs and corporates and is a wholly-owned subsidiary of Investec.

Investec says his appointment highlights its “continued commitment” to grow the Quantum business and support the evolving demands of the SME sector, by expanding its lending through the broker intermediary channel.

Since the business was founded in February 2015, Quantum has grown and now has 130 brokers, lending £25m to more than 2,500 SMEs.

Andy Hart, head of Investec Asset Finance Group, said: “We are very pleased to have Paul on board. He is a great cultural fit for our business and his skills and experience in asset finance will help support our growth ambitions and strategy.

“We are investing in new technology. This, coupled with Quantum’s foundation of expertise and support of our brokers, will enable us to continue to expand while offering the market-leading service which differentiates us.”

Cunningham added: “I am delighted to join Quantum as the business moves into a new stage of growth. I am excited to be working alongside the existing team, who have done a brilliant job in growing Quantum into a successful and profitable platform for Investec. I am confident that with the continued support of our brokers, we will strengthen our lending to the SME market.”