Mutu goes corporate with asset management tool, closes peer leasing app

CEO and founder Toby Skilton, right, has led the charge on the new direction with recently appointed COO Ben Redwood. (Image: Mutu)

Ben Moore

Thu, 21 Jul 2022

Christchurch startup Mutu is making a major pivot, ending its peer-to-peer (P2P) item lending platform next month to focus on a new asset management platform for businesses.Chief executive Toby Skilton started the company in 2019. He raised $200,000 in pre-seed funding and about another $200,000 in grants to help people make the most of their unused items, save money and reduce environmental impact versus buying new ones.At its peak, the P2P platform had 25,000 users across Aotearoa New Zealand, but it never quite saw the scale that Skilton was...

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