Student loan specialist Future Finance has appointed a new executive team with a view to expanding its operation into other European jurisdictions including Ireland.

Despite being headquartered in Dublin, the company, which provides funds to more than 7,000 university students in the UK and Germany, does not yet operate in the Republic.

However, it is understood to be in discussions with the Central Bank about getting a licence to operate here.

The company has recruited a team of five executives, led by consumer finance expert Alex King, to join the existing team and boost growth.

Mr King will replace co-founder Brian Norton as chief executive, with Mr Norton assuming the role of executive vice-chairman.

At the end of last year Future Finance’s total loan originations hit the £50 million mark following loan demand of over £500 million during the past two years in the UK alone.

The start-up, which now employs over 50 staff, is partnered with European Investment Fund and with more than 60 universities across Europe.

“Future Finance has experienced phenomenal success and has huge potential to continue to grow. I am excited to be joining such a great team and a fast-growing, consumer-friendly business that is focused on ensuring that deserving students get the education they need,” Mr King said.