(Sharecast News) - SME finance platform Funding Circle has announced the former boss of sector peer Liberis as its new chief executive, replacing Lisa Jacobs, who announced plans to step down in September.

The company said on Wednesday that Rob Straathof, currently CEO of German technology subscription business Grover, would join in the first half of 2027, subject to regulatory approval. Jacobs will stay on board until September 2027 at the latest to ensure a smooth handover.

Straathof previously spent a decade as chief executive of Liberis, which specialises in revenue-based finance and merchant cash advances.

According to Funding Circle, Straathof oversaw Liberis's transformation from a UK small business lender into a global embedded finance platform, which provided more than $4bn in funding to over 100,000 small businesses.

"Rob brings a deep understanding of small businesses, strong credit expertise and a proven track record of leading fintech businesses, in particular his decade scaling Liberis into a multi-product platform," said Funding Circle's chair Ken Stannard.

Funding Circle shares were up 1% at 204.5p by 1333 GMT.

See latest RNS on Sharecast