Monzo co-founder revealed as non-executive chair of property lender GBB

By Aisling Finn on Monday 8 June 2020

Alternative Lending

Rippon left Monzo in December to look after alpacas but never ruled out a return to banking.

Monzo co-founder revealed as non-executive chair of property lender GBB
Image source: Paul Rippon


Paul Rippon, one of the founders of Monzo who left the bank last year to raise alpacas, has been appointed as non-executive chair of Newcastle-based banking service GBB.

GBB has already raised over £10m from investors, some of which has been spent on trying to obtain its banking licence, which it hopes it will do so by the end of the year. 

Rippon, who has nearly 30 years experience in the industry, said following his exit from Monzo “around 200 opportunities” came his way but that he “ wanted something that would span business, banking and provide a way to help others from more humble beginnings like me.”

“Following meetings with the team, I saw and liked the business model which allows GBB to build new homes and businesses and deliver safe and fair savings in a modern and sustainable way.” 

“The combination of leading-edge technology and relationship managers on the ground to provide support to customers is what property developers are in desperate need of,” he added.

Steve Deutsch, CEO of GBB, said: “Paul’s expertise is second to none and comes at a critical time as we fundraise and move, upon receipt of our licence, to being fully operational.”

Once fully operational, the banking service will be able to provide loans of between £1m and £5m, with the majority of its lending supporting property builders, construction companies and SMEs in the North East. 

Rippon’s appointment is still subject to regulatory approval but it’s hoped he will be able to help GBB realise its full lending potential in the North East.

Sign up for our newsletters

Your daily 7am download of all things alternative finance and fintech.

Fintech and alternative finance headlines with an exclusive Editor's Note each week. Delivered Monday at midday.

AltFi's new weekly US newsletter breaking down the ins and outs of America's burgeoning fintech sector. Delivered Monday 9am EST/ 6am PST.

Companies in this Article:


More like this:

Exclusive: Tide scoops up Funding Options in its first acquisition

Editor's Pick

29 November 2022
Oliver Smith

Zilch poised to axe 10 per cent of workforce

28 November 2022
John Reynolds

UK Strikes Singapore fintech deal

28 November 2022
Daniel Lanyon