Ying Tan Has Acquired a Significant Stake in Knowledge Bank
Dynamo founder and former CEO Ying Tan has acquired a significant stake in Knowledge Bank and become non-executive chairman of the criteria search system.
Established by Nicola Firth, Knowledge Bank is a disruptor in the mortgage industry and was the world’s first criteria search system at the time of its launch in September 2017. The system collected up-to-date criteria from lenders across several areas, including residential mortgages, buy-to-let, equity release, second charges, bridging, commercial loans and self-build. Knowledge Ban now holds over 125,000 pieces of criteria from over 250 lenders.
In his new position, Ying will be responsible for leading the Knowledge Bank board, formulating strategy and furthering its vision. He will also be pushing for additional funding to accelerate Knowledge Bank’s growth. Penny Desborough, Ying’s trusted colleague, will also join the board as a non-executive director.
Craig Kelly, a Commercial Solicitor at BTMK Solicitors, advised on the acquisition.
Lawyer Monthly had the pleasure to speak with Craig Kelly at BTMK Solicitors to give us some further insight into this transaction:
Can you tell us any more about BTMK’s role in this acquisition?
As the lead solicitor on this matter, I produced the documents needed for the transaction. I ensured the correct terms were negotiated for our client and that they received the best deal possible. As there was a deadline to complete this deal, I made myself easily accessible to the client.
What expertise did you bring to the transaction?
At BTMK we deal with share transfers and company purchases on a regular basis, so we understand the needs of both the buyer and the seller. Our commercial department has forward-thinking, commercially minded solicitors who know that taking a commercial view on aspects of the deal is key. This allows transactions to proceed without the need for unnecessary back and forth between parties.
I brought my knowledge and expertise in intellectual property law to this transaction and was able to advise my client appropriately on copyright issues.
Did you encounter any challenges while working on the transaction? If so, how did you overcome them?
I was given just one month to complete the share transfer for this transaction. The solicitor acting for Knowledge Bank was helpful, which enabled us to reach the conclusion of the matter within the specified timeframe. Both clients were satisfied with our efforts in bringing this matter to a swift conclusion.
What impact do you expect this acquisition to have on Knowledge Bank and the wider mortgage industry?
Ying Tan’s knowledge and experience will be very positive for Knowledge Bank and the wider mortgage industry; Knowledge Bank will only thrive with such valuable input from one of the leaders in this field.
How does your work on this transaction fit the profile of your firm?
As a commercial solicitor, I deal with transactions similar to the Knowledge Bank transaction on a regular basis. BTMK’s commercial department is headed by Director Lee Emptage, who is well-known in the industry for working on such deals. Lee’s vast experience was instrumental in assisting me in getting this deal across the line.
Do you expect to advise on similar deals in the near future?
Yes, this is the type of work that BTMK’s commercial department frequently carries out, and I am currently working on several company takeovers and share purchases for well-established clients.