Former e-cig investor David Newns joins eMoneyUnion

Lee Birkett, founder and chief executive officer, said: "It is a match made in heaven. It is great to meet somebody who is on the top of their game technologically.”

Newns previously worked for British American Tobacco, who helped popularise electronic cigarettes.

eMoneyUnion’s equity crowdfunding process is said to be going better than anticipated, as the group is on track to sail past its £300,000 target.

Newns said: "Crowdfunding is developing in to being the most disruptive technology in the financial sector and eMoneyUnion is positioned perfectly to take advantage of this global revolution.

“I am looking forward to working with Lee and his team to build eMoneyUnion into the market leader in social lending."