The peer-to-peer lending platform will begin sponsoring the world-famous sailing regatta – which will now be called Lendy Cowes Week – from 29th July 2017.

Lendy’s involvement as title sponsor is set to bring a new outlook to the regatta, which has been running since 1826.

This will provide benefits and enhancements to competitors and visitors.

“Having a partner with such a close understanding of our regatta, will allow CWL [Cowes Week Ltd] to press ahead with plans to further improve the experience for both competitors and spectators,” said Phil Hagen, regatta director at CWL (pictured above, right).

“We will now be able to implement plans that will improve the competitor on-water communication and support the race management team.

“This is a very positive time for Cowes Week.”

Liam Brooke, co-founder and director of Lendy, said it was extremely proud to be sponsoring the world-famous sporting event.

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“As part of an initial three-year partnership, Lendy … will help strengthen the regatta’s already powerful reputation globally, and we will bring to this iconic event some of the passion, energy and entrepreneurialism that we infuse in everything that we do.”

Paul Riddell, head of marketing and communications for Lendy (pictured above, centre), added: “Having started life in 2012 financing quality marine craft and being based on the south coast, a strategic alignment with Cowes Week felt like the perfect brand fit.

“Lendy Cowes Week is set to be a tremendous success and we are very much looking forward to enhancing the experience of both the crews and spectators who will descend upon the Isle of Wight this summer.”

Kate Johnson, commercial and marketing director of CWL (pictured above, left), hoped Lendy’s sponsorship could deliver a real return and significant brand-building benefits to the lender as well as being a hugely positive step for the regatta.

“The company has a real love of, and enthusiasm for, the event.

“We’re really looking forward to working together with the Lendy team over the next three years to develop Cowes Week further, for the benefit of everyone involved in this great regatta.”

Lendy Cowes Week 2017 will take place on the Isle of Wight from 29th July to 5th August.